Form Pa-20s/pa-65 Schedule Rk-1 And Nrk-1 - Resident And Nonresident Schedules Of Pa S Shareholder/partnership/beneficiary Pass Through Income, Loss And Credits - 2006

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PA Department of Revenue
Bureau of Individual Taxes
PO Box 280509
Harrisburg, PA 17128-0509
PA-20S/PA-65 Schedule RK-1 and NRK-1
Resident and Nonresident Schedules of PA S Shareholder/Partnership/Beneficiary
Pass Through Income, Loss and Credits
General Information
The PA-20S/PA-65 Schedules RK-1 and NRK-1 show each member’s share of the income,
losses, and credits from the PA S corporation or partnership. PA residents receive
PA-20S/PA-
65 Schedule RK-1.
Nonresidents of PA receive
PA-20S/PA-65 Schedule
NRK-1.
Part-Year Members
The requirements are different for PA S corporations and partnerships to issue either a PA-
20S/PA-65 Schedules RK-1 or NRK-1 to its members.
IMPORTANT:
Members that are estates, trusts, other PA S corporations, other
partnerships, and other pass through entities receive both PA-20S/PA-65 Schedules RK-1 and
NRK-1. The PA taxable income passes through to the final taxpayer. Therefore, the immediate
partners and shareholders must know the amount of total PA taxable income, in the event the
final owner is a PA resident. In the event that the final owner is not a resident of PA, they must
know the amount of PA Source taxable income.
PA S Corporations Only
The entity must submit a separate
PA-20S/PA-65 Schedule RK-1
for that period of the tax year
during which the shareholder was a resident and a separate
PA-20S/PA-65 Schedule NRK-1
for
that period of the tax year during which the shareholder was a nonresident.
1. PA-20S/PA-65 Schedule RK-1 - Determines the shareholder’s pro rata distributive share
of each item reported on the PA-20S/PA-65 Information Return as follows:
a. Determines the daily amount by dividing the income (loss) or credit by the number of
days in the PA S corporation’s tax year.
b. Determines the shareholder’s daily part by multiplying the daily amount from
“a”
by
the percentage of stock owned by the shareholder on each day of the residency
portion of the PA S corporations tax year.
c. Totals the shareholder’s daily part for the number of days for which the shareholder
was a resident. Multiply the shareholder’s daily amount from “b” by the number of
days the shareholder was a PA resident.
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104
2006 - PA-20S/PA-65

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