Form Ia 1120s - Iowa Income Tax Return For An S Corporation/schedule K-1 - Nonresident Shareholder Only/etc. - 2008 Page 4
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4Instructions if attached to the IA 1065
Instructions if attached to the IA 1120S
Column 1 - Enter the name and address of each shareholder.
Column 1 - Enter the name and address of each partner.
Column 2 - Enter the letter R if the shareholder is an Iowa
Column 2 - Enter the letter R if the partner is an Iowa resident
resident or the letter N if the shareholder is not an
or the letter N if the partner is not an Iowa resident.
Iowa resident.
Column 3 - Enter the correct Social Security Number or FEIN
Column 3 - Enter the correct Social Security Number or
of each partner.
Federal I.D. Number of each shareholder.
Column 4 - Enter the percentage figure under the partnership
Column 4 - Enter each shareholder’s percentage of ownership.
agreement representing each partner’s distributive
share of income, gain, loss, deduction or credit. In
Column 5 - Multiply line 9 of Schedule S by the shareholder’s
percent of ownership in the corporation and enter
the event the partnership agreement provides for a
the result here.
specific distribution of certain modifications which
Column 6 - Multiply line 10 of Schedule S by the shareholder’s
differs from that used to apportion income or loss
percent of ownership in the corporation and enter
generally, then attach an explanation.
Column 5 - Multiply line 8 of Part I by the partner’s percent
the result here.
Column 7 - For nonresidents multiply the figure in column 6
interest in column 4 and enter the result here.
by the corporation’s single factor business activity
Column 6 - Multiply line 9 of Part I by the partner’s percent
interest in column 4 and enter the result here. If line
ratio and enter here. For Iowa residents ente the
same figure that is in column 6 here. If the
9 includes any guaranteed payments to a partner,
corporation conducts its business wholly within
allocate the guaranteed payments directly to that
Iowa, enter the same figure in column 6 for all
partner and multiply only the balance of line 9 by
shareholders.
each partner’s percent interest.
Column 7 - For nonresident partners of partnerships doing
business within and without Iowa, multiply the
amount in column 6 by the Iowa single factor
business activity ratio and enter the result here. For
nonresident partners of partnerships doing business
wholly within Iowa and for Iowa resident partners
enter the same figure as is in column 6.
41-034b
(7/31/08)
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