Instructions For Partnership Income Tax Return Arizona Form 165 1998 (Page 2 of 8) in pdf

Arizona Form 165

trustees, or assignees must sign the return.

where requested. The TIN for a paid tax return preparer is

either the individual's social security number or the federal

When someone other than a member or employee of the

employer identification number of the business. Paid tax

partnership prepares the return, that person must also sign

return preparers that fail to include their TIN may be subject

the return.

to a penalty.

Records

Other Information (Page 1)

The partnership should maintain books and records

Answer all questions (A through K).

substantiating information reported on the return and keep

these documents for inspection. Arizona General Tax Ruling

Question J Information: Report any adjustments made by

GTR 96-1 discusses the general requirements for the

the Internal Revenue Service to any federal income tax

maintenance and retention of books, records and other

return filed by the partnership not previously reported to the

sources of information received, created, maintained or

department. Submit these adjustments under separate cover

generated through various computer, electronic and imaging

to Arizona Department of Revenue, PO Box 29080, Phoenix,

processes and systems. Refer to this tax ruling for further

AZ 85038-9080.

information.

Adjustment of Partnership Income to Arizona Basis

Rounding Dollar Amounts

Line 1 - Federal Ordinary Business and Rental

Taxpayers must round amounts to the nearest whole dollar.

Income

If 50 cents or more, round up to the next dollar. If less than

Enter the total of ordinary income (loss) from trade or

50 cents, round down.

business activities, net income (loss) from rental real estate

Penalties

activities, and the net income (loss) from other rental

activities from the federal Form 1065, Schedule K. Attach a

A partnership information return that is incomplete or filed

copy of the federal Form 1065 and its component schedules.

after its due date (including extensions) is subject to a $500

penalty.

Line 2 - Additions to Partnership Income

IRC § 7519 - Required Payments

Enter the amount from page 2, Schedule A, line A3.

The Department of Revenue will not require partnerships to

Line 4 - Subtractions From Partnership Income

make required payments. The department will not allow the

Enter the amount from page 2, Schedule B, line B6.

affected taxpayers to deduct the federal required payments on

their Arizona tax returns as an ordinary and necessary

Line 5 - Partnership Income Adjusted to Arizona

business expense or otherwise.

Basis

Line-by-Line Instructions

Subtract line 4 from line 3. Enter the difference. This is the

partnership income adjusted to an Arizona basis.

Type or print the required information in the name, address,

Line 6 - Net Adjustment From Federal to Arizona

and information boxes on the top of page 1. Indicate the

Basis

period covered by the taxable year on page 1 of the return

and whether the taxable year is a calendar year or a fiscal

Subtract line 5 from line 1. Enter the difference.

year. Indicate whether this return is an original or an

amended return.

Line 7 - Penalty

This form is an information return. An information return

Enter the partnership's federal employer identification

that is incomplete or filed after its due date (including

number, which is the taxpayer identification number (TIN).

extensions) is subject to a $500 penalty.

Enter the Arizona withholding tax number and Arizona

transaction privilege tax number for the partnership.

If the partnership files this return after its due date

(including extensions), enter $500 on this line. Attach a

All returns, statements, and other documents filed with the

check for that amount to the return. Make the check payable

department require a taxpayer identification number (TIN).

to the Arizona Department of Revenue. Include the

The TIN for a corporation, S corporation, or a partnership is

partnership's TIN on the check.

the taxpayer's federal employer identification number. The

TIN for an individual is the taxpayer's social security number

Business Information (Page 2)

or an IRS individual taxpayer identification number.

Taxpayers that fail to include their TIN may be subject to a

Complete this schedule if the partnership is doing business

penalty. Paid tax return preparers must include their TIN

within and without Arizona. Enter the exact location of each

Instructions For Partnership Income Tax Return Arizona Form 165 1998 Page 2

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