2010 Partner'S Instructions For Schedule K-1 (Form 1065-B) - Department Of The Treasury Page 8
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12Code B6. General partner’s
checked, report the loss following the
activities instead of being reported on line
rehabilitation credit from rental real
rules for Publicly traded partnerships.
16.
estate activities. Report the
3. If you were a real estate
Code D. Limited Partner’s 28%
rehabilitation credit on line 11m of Form
professional and you materially
Rate Gain or (Loss) From Passive
3468, Investment Credit. Unless you were
participated in the activity, report box 9
Activities
a real estate professional and materially
income or (loss) on Schedule E (Form
participated in the rental real estate
1040), line 28, column (h) or (j).
Limited partners only. The 28% rate
activity, the credit is a passive activity
4. If you have income from a passive
gain or (loss) is treated as being from a
credit, and you must also file Form 3800.
activity in box 9, Code B1, enter the
trade or business that is a single passive
income on Schedule E (Form 1040), line
Code B7. General partner’s alternative
activity. If a gain is reported, include it on
28, column (g). However, if the PTP box
minimum tax adjustment from rental
line 4 of the 28% Rate Gain Worksheet
is checked, report the income following
real estate activities. An AMT
on page D-8 of the Instructions for
the rules for Publicly traded partnerships.
adjustment must be reported on line 16 of
Schedule D (Form 1040).
Form 6251. However, if the AMT
If a loss is reported, report the loss
Code B2. General partner’s net capital
adjustment is from a passive activity, it
following the Instructions for Form 8582 to
gain or (loss) from rental real estate
must be taken into account on line 19 with
figure how much of the loss can be
activities (for the entire year). The net
other passive activities instead of being
included on line 4 of the 28% Rate Gain
capital gain or (loss) from a rental real
reported on line 16.
Worksheet on page D-8 of the
estate activity is a passive activity amount
Code C1. General partner’s taxable
Instructions for Schedule D (Form 1040).
unless you were a real estate
income or (loss) from other rental
However, if the PTP box is checked,
professional and you materially
activities. Income (loss) reported in box
report the loss following the rules for
participated in the activity. If the amount is
9, Code C1, is a passive activity amount
Publicly traded partnerships.
either (a) a loss that is not from a passive
for all general partners. Report a loss
activity or (b) a gain, report it on Schedule
Code E. Limited Partner’s 28%
following the Instructions for Form 8582.
D (Form 1040), line 12, column (f).
Rate Gain or (Loss) From Other
Report income on Schedule E (Form
1040), line 28, column (g). However, if the
Activities
If the amount is a loss from a passive
PTP box is checked, report the income
activity, report it following the Instructions
The 28% gain or (loss) from other
(loss) following the rules for Publicly
for Form 8582 to figure how much of the
activities is not subject to the passive
traded partnerships.
loss can be reported on Schedule D, line
activity limitations. Include it on line 4 of
12, column (f). However, if the PTP box is
Code C2. General partner’s net capital
the 28% Rate Gain Worksheet on page
checked, report the loss following the
gain or (loss) from other rental
D-8 of the Instructions for Schedule D
rules for Publicly traded partnerships.
activities. The net capital gain (loss)
(Form 1040).
from other rental activities is a passive
Code B3. General partner’s 28% rate
Code F. Guaranteed Payments
activity amount for all general partners.
gain or (loss) from rental real estate
Report the gain on Schedule D (Form
Generally, these amounts are not passive
activities. The 28% rate gain or (loss)
1040), line 12, column (f). Report a loss
income. Report them on Schedule E
from a rental real estate activity is a
following the Instructions for Form 8582 to
(Form 1040), line 28, column (j) (for
passive activity amount unless you were
figure how much of the loss can be
example, guaranteed payments for
a real estate professional and you
reported on Schedule D (Form 1040), line
personal services).
materially participated in the activity. If the
12, column (f). However, if the PTP box is
amount is either (a) a loss that is not from
Code G. Income From Discharge of
checked, report the loss following the
a passive activity or (b) a gain, include it
Indebtedness
rules for Publicly traded partnerships.
on line 4 of the 28% Rate Gain
The amount reported under Code G is
Code C3. General partner’s 28% rate
Worksheet on page D-8 of the
excluded from your gross income to the
gain or (loss) from other rental
Instructions for Schedule D (Form 1040).
extent provided in section 108 if the
activities. The 28% rate gain or (loss)
If the amount is a loss from a passive
discharge:
from other rental activities is a passive
•
activity, report it following the Instructions
Occurred in a title 11 case relating to
activity amount for all general partners. If
for Form 8582 to figure how much of the
bankruptcy,
the amount is a gain, include it on line 4
•
loss can be included on line 4 of the 28%
Occurred when you were insolvent,
of the 28% Rate Gain Worksheet on page
•
Rate Gain Worksheet on page D-8 of the
Involved qualified farm indebtedness,
D-8 of the Instructions for Schedule D
Instructions for Schedule D (Form 1040).
as defined in section 108(g), or
(Form 1040). Report a loss following the
•
However, if the PTP box is checked,
Involved qualified real property
Instructions for Form 8582 to figure how
report the loss following the rules for
business indebtedness, as defined in
much of the loss can be included on line 4
Publicly traded partnerships.
section 108(c)(3), unless the partner is a
of the 28% Rate Gain Worksheet on page
C corporation.
Code B4. General partner’s general
D-8 of the Instructions for Schedule D
credits from rental real estate
(Form 1040). However, if the PTP box is
This amount is applied, instead, to
activities. Report the general credits on
checked, report the loss following the
reduce certain tax attributes. File Form
line 1bb of Form 3800. Unless you were a
rules for Publicly traded partnerships.
982, Reduction of Tax Attributes Due to
real estate professional and materially
Discharge of Indebtedness (and Section
Code C4. General partner’s general
participated in the rental real estate
1082 Basis Adjustment), to explain why
credits from other rental activities.
activity, you must also include the general
any amount received from the discharge
Report the general credits on line 1bb of
credits on line 3 of Form 3800.
of indebtedness should be excluded and
Form 3800. Because general credits from
to report your reduction of tax attributes.
other rental activities are passive activity
Code B5. General partner’s
credits for all general partners, you must
low-income housing credit from rental
For a discharge of indebtedness not
also include the general credits on line 3
real estate activities. Report the
described above, you must include this
of Form 3800.
low-income housing credit on line 4 of
amount in income on line 21 of Form
Form 8586 for buildings placed in service
Code C5. General partner’s alternative
1040.
before 2008, and on line 11 of Form 8586
minimum tax adjustment from other
Code H. Tax-Exempt Interest
for buildings placed in service after 2007.
rental activities. An AMT adjustment
Income
Unless you were a real estate
must be reported on line 16 of Form
professional and materially participated in
6251. However, if the AMT adjustment is
Report on your income tax return, as an
the rental real estate activity, the
from a passive activity, it must be taken
item of information, your share of the
low-income housing credit is a passive
into account on line 19 with adjustments
tax-exempt interest received or accrued
activity credit.
and preferences from other passive
by the partnership during the year.
-8-
Instructions for Schedule K-1 (1065-B) (2010)
ADVERTISEMENT
0 votes
Related Articles
Related forms
Partner's Instructions For Schedule K-1 (form 1065-b) - Partner's Share Of Income (loss) From An Electing Large Partnership (for Partner's Use Only) - 2016
Financial
Partner's Instructions For Schedule K-1 (form 1065-b) - Partner's Share Of Income (loss) From An Electing Large Partnership (for Partner's Use Only) - 2001
Financial
Partner's Instructions For Schedule K-1 (form 1065-b) - Partner's Share Of Income (loss) From An Electing Large Partnership (for Partner's Use Only) - 2009
Financial
Partner's Instructions For Schedule K-1 (form 1065-b) - Partner's Share Of Income (loss) From An Electing Large Partnership (for Partner's Use Only) - 2007
Financial
Partner's Instructions For Schedule K-1 (form 1065-b) - Partner's Share Of Income (loss) From An Electing Large Partnership (for Partner's Use Only) - 2011
Financial
Partner's Instructions For Schedule K-1 (form 1065-b) - Partner's Share Of Income (loss) From An Electing Large Partnership (for Partner's Use Only) - 2004
Financial
Partner's Instructions For Schedule K-1 (form 1065-b) - Partner's Share Of Income (loss) From An Electing Large Partnership (for Partner's Use Only) - 2003
Financial
Partner's Instructions For Schedule K-1 (form 1065-b) Draft - Partner's Share Of Income (loss) From An Electing Large Partnership (for Partner's Use Only) - 2011
Financial
Related Categories
Parent category: Legal