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 Page 8
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16Line 7. Total Other Credits
If there is a figure on Line 7, please submit a copy of the
PA-20S/PA-65 Schedule
OC. Submit
statement.
PART IV. DISTRIBUTIONS FROM PARTNERSHIP
Noncorporate shareholders and partners need the amounts from Parts IV through VII, other than
Line 10, to maintain their PA economic interest in the entity. Partners include Line 10 in net
classified income on their PA tax return.
Line 8. Distribution of Cash, Marketable Securities, and Property - not including
guaranteed payments
Enter the partner’s share of such distributions other than guaranteed payments. Nontaxable
distributions reduce the nonresident’s economic investment.
Line 9. Guaranteed Payments for Capital
Enter the partner’s share of such distributions.
PA PIT characterizes distributions that are guaranteed payments for capital as:
A withdrawal proportionately from the capital of all partners;
A gain from the disposition of the recipient’s partnership interest and a loss from the
disposition of the other partners’ partnership interests, to the extent derived from the
capital of the other partners;
A return of capital by the resident recipient to the extent derived from his/her own
capital. The distributions that the partnership makes that represent co-payments of
the partner’s own capital are not income for PA PIT purposes.
Line 10. All Other Guaranteed Payments for Services Rendered (PA Apportioned Amount
Only)
Enter the partner’s share of such payments taxable in PA. PA taxes nonresident guaranteed
payments based on PA apportioned calculations for ordinary income.
Treatment of HSA - Health Savings Accounts
Contributions by a partnership to a bona fide partner’s HSA are not contributions by an employer.
The contributions are treated as a distribution of money and are not included in the partner’s
gross income.
Contributions by a partnership to a nonresident partner’s HSA for services rendered are
apportioned and treated as guaranteed payments that are deductible by the partnership and
includible in the partner’s gross income.
In both situations, the partner can deduct the
contribution made to the partner’s HSA.
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111
2006 - PA-20S/PA-65
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