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Form ID K-1 - Page 2

EFO00201p4

07-27-12V2

The PTE must either complete Sections A through E for an

A nonresident will need to remove allocated income from federal

electing PTO or include a schedule that identifies how the tax for

Schedule K-1 amounts before applying the apportionment factor

the PTO was computed, including any credits that are used to

listed on line 1 to determine the amount of business income

offset tax.

apportioned to Idaho. Income allocated to Idaho (line 10)

will then be added to the apportioned income to compute the

Line c Withholding Paid on Behalf of PTO

amounts of Idaho source income to report on Form 43 or 66.

A pass-through entity (PTE) transacting business in Idaho,

including a trust or estate with income taxable in Idaho, must

Line 8 Allocated Income

withhold income tax from a nonresident individual owner who

Enter the PTO’s distributive share of the amount reported on

isn't included in a composite return. Enter the amount of Idaho

Form 65, line 27 or Form 41S, line 29. Include a schedule or use

income tax withheld.

Part E to identify the income.

PART A ALLOCATION AND APPORTIONMENT

Line 9 Nonbusiness Expense Offset

If the PTE is a trust or estate, skip Part A.

Enter the PTO’s distributive share of the amount reported on

Form 65, line 28 or Form 41S, line 30.

Line 1 Idaho Apportionment Factor

Enter 100% on this line if the PTE is transacting all of its

Line 10 Income and Expenses Allocated to Idaho

business within Idaho; if not, enter the Idaho apportionment

Enter the PTO’s distributive share of nonbusiness income

factor from Form 42, Part I, line 21.

allocated to Idaho. This amount is net of the nonbusiness

expense offset and reported on Form 65, line 37 or Form 41S,

This information is used by a part-year resident or nonresident

line 39. Include a schedule or use Part E to identify the income

individual, trust, or estate to determine the amount of PTE's

and expenses.

business income that must be reported as Idaho source income

while a nonresident of Idaho. The apportionment factor doesn't

PART B IDAHO ADJUSTMENTS

apply to allocated income (lines 8 through 10).

Report all amounts at the PTO's distributive share before

applying the Idaho apportionment factor.

Line 2 Total Income

Enter the PTO’s distributive share of total income reported on

Line 1 State, Municipal and Local Taxes Measured by Net

federal Form 1065, line 8, or federal Form 1120S, line 6.

Income

Enter the PTO’s distributive share of the amount reported on

This amount doesn't go on the PTO's Idaho return. It's used

Form 65, line 18, Form 41S, line 21, or Form 66, Schedule B,

to calculate the interest expense offset related to tax-exempt

line 3. Include a schedule or use Part E to identify the amount

interest. If the PTO isn't reporting a deduction for tax-exempt

and the governmental entity.

interest, the PTO won't use this information in preparing his

Idaho return.

If the PTE is filing an Idaho Form 66, the PTE may be eligible to

claim a credit for taxes paid on Form 66, Schedule C, line 2.

Lines 3 Through 7

Lines 3 through 7 should be completed only by a PTE that is

Line 2 Bonus Depreciation Addition

a partnership or taxed as a partnership. If the partner is an

For assets acquired prior to 2008 or after 2009 for which you

individual, trust, or estate, the partnership can skip lines 3

claimed bonus depreciation, enter the PTO's distributive share of

through 7. All other PTEs skip lines 3 through 7 and go to line 8.

the differences between the federal and Idaho depreciation and

gains and losses reported on Form 65, line 19, Form 41S, line

Enter the PTO’s share of the partnership’s total everywhere

17, or Form 66, Schedule B, line 5.

and Idaho property, payroll, and sales, net of intercompany

eliminations, in the spaces provided. These amounts can be

Line 3 Interest and Dividends Not Taxable Under the IRC

found on the partnership's Idaho Form 42. The capitalized

Enter the PTO’s distributive share of the amount reported on

rent expense on line 5 is the amount of rent expense net of

Form 65, line 17, Form 41S, line 20, or Form 66, Schedule B,

intercompany rent expense after being capitalized by eight.

line 2. Except for amortization, don’t include expenses

associated with the securities on this line. Report the expenses

The PTO’s share of the partnership’s total everywhere and Idaho

on line 6a.

property, payroll, and sales is determined by attributing the

partnership’s property, payroll, and sales to the PTO in the same

Line 4 Other Idaho Additions

proportion as the PTO’s distributive share of partnership income

Enter the PTO’s distributive share of any other Idaho additions

if reporting net income for the tax year or in the same proportion

not included on lines 1 through 3 above. Include a schedule or

as the PTO’s distributive share of partnership losses if reporting

use Part E to identify the additions.

a net loss for the tax year.

Line 5 Interest from Idaho Municipal Securities

These amounts are used if the PTO is a partnership or a

Enter the PTO’s distributive share of the amount reported on

corporation to compute its Idaho apportionment factor. The

Form 65, line 22, Form 41S, line 24, or Form 66, Schedule B,

amounts will be added to the entity's property, payroll, and sales

line 8. Except for amortization, don’t include expenses

amounts in computing its Idaho factors if the income from the

associated with the securities on this line. Report the expenses

PTE is business income to the entity.

on line 7b.

Lines 8 Through 10

Line 6 Interest on U.S. Government Obligations

Lines 8 through 10 are used by all PTOs. Nonresident

Enter the PTO’s distributive share of the amount reported on

individuals, trusts and estates will need to know what income

Form 65, line 23, Form 41S, line 25, or included in the amount on

is allocated income since this income is not apportioned to

Form 66, page 1, line 5. Except for amortization, don’t include

determine Idaho source income. Instead, allocated income

expenses associated with the securities on this line. Report the

and the related nonbusiness expense offset amount on line 9

expenses on line 7c.

is specifically sourced to a state. Income allocated to Idaho is

listed on line 10. Provide a detailed breakdown of this income

and related expenses on page 2, Part E.

Form Id K-1 Draft - Partner'S, Shareholder'S, Or Beneficiary'S Share Of Idaho Adjustments, Credits, Etc. - 2012 Page 4

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