Schedule K-1 (Form 1065) - Partner'S Share Of Income, Deductions, Credits, Etc. - 2015 Page 2

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2
Schedule K-1 (Form 1065) 2015
Page
This list identifies the codes used on Schedule K-1 for all partners and provides summarized reporting information for partners who file Form 1040.
For detailed reporting and filing information, see the separate Partner’s Instructions for Schedule K-1 and the instructions for your income tax return.
}
Code
Report on
1. Ordinary business income (loss). Determine whether the income (loss) is
L
Empowerment zone
passive or nonpassive and enter on your return as follows.
Report on
employment credit
See the Partner’s Instructions
M Credit for increasing research
Passive loss
Passive income
Schedule E, line 28, column (g)
activities
See the Partner’s Instructions
N Credit for employer social
Nonpassive loss
Schedule E, line 28, column (h)
Nonpassive income
Schedule E, line 28, column (j)
security and Medicare taxes
O Backup withholding
2. Net rental real estate income (loss)
See the Partner’s Instructions
P Other credits
3. Other net rental income (loss)
}
16. Foreign transactions
Net income
Schedule E, line 28, column (g)
A Name of country or U.S.
Net loss
See the Partner’s Instructions
4. Guaranteed payments
Schedule E, line 28, column (j)
possession
5. Interest income
Form 1040, line 8a
B Gross income from all sources
Form 1116, Part I
6a. Ordinary dividends
Form 1040, line 9a
C Gross income sourced at
6b. Qualified dividends
Form 1040, line 9b
partner level
7. Royalties
Schedule E, line 4
Foreign gross income sourced at partnership level
}
8. Net short-term capital gain (loss)
Schedule D, line 5
D Passive category
Schedule D, line 12
9a. Net long-term capital gain (loss)
E
General category
Form 1116, Part I
9b. Collectibles (28%) gain (loss)
28% Rate Gain Worksheet, line 4
F
Other
(Schedule D instructions)
Deductions allocated and apportioned at partner level
9c. Unrecaptured section 1250 gain
G
Interest expense
Form 1116, Part I
See the Partner’s Instructions
10.
Net section 1231 gain (loss)
See the Partner’s Instructions
H
Other
Form 1116, Part I
11.
Other income (loss)
Deductions allocated and apportioned at partnership level to foreign source
Code
income
}
A Other portfolio income (loss)
See the Partner’s Instructions
I
Passive category
B Involuntary conversions
J
See the Partner’s Instructions
Form 1116, Part I
General category
C Sec. 1256 contracts & straddles
Form 6781, line 1
K
Other
D Mining exploration costs recapture See Pub. 535
Other information
L
E Cancellation of debt
Form 1040, line 21 or Form 982
Total foreign taxes paid
Form 1116, Part II
F Other income (loss)
M Total foreign taxes accrued
See the Partner’s Instructions
Form 1116, Part II
12.
Section 179 deduction
N
Form 1116, line 12
See the Partner’s Instructions
Reduction in taxes available for credit
}
13.
Other deductions
O
Foreign trading gross receipts
Form 8873
A Cash contributions (50%)
P
Extraterritorial income exclusion
Form 8873
B Cash contributions (30%)
Q Other foreign transactions
See the Partner’s Instructions
}
C Noncash contributions (50%)
17. Alternative minimum tax (AMT) items
D Noncash contributions (30%)
See the Partner’s
A Post-1986 depreciation adjustment
E Capital gain property to a 50%
Instructions
B Adjusted gain or loss
See the Partner’s
organization (30%)
C Depletion (other than oil & gas)
Instructions and
F Capital gain property (20%)
D Oil, gas, & geothermal—gross income
the Instructions for
G Contributions (100%)
E
Oil, gas, & geothermal—deductions
Form 6251
H Investment interest expense
Form 4952, line 1
F
Other AMT items
I
Deductions—royalty income
Schedule E, line 19
18. Tax-exempt income and nondeductible expenses
J Section 59(e)(2) expenditures
See the Partner’s Instructions
A Tax-exempt interest income
Form 1040, line 8b
B Other tax-exempt income
K Deductions—portfolio (2% floor)
Schedule A, line 23
See the Partner’s Instructions
L Deductions—portfolio (other)
C Nondeductible expenses
Schedule A, line 28
See the Partner’s Instructions
M Amounts paid for medical insurance Schedule A, line 1 or Form 1040, line 29
19. Distributions
}
N Educational assistance benefits
See the Partner’s Instructions
A
Cash and marketable securities
O Dependent care benefits
Form 2441, line 12
B Distribution subject to section 737
See the Partner’s Instructions
P Preproductive period expenses
See the Partner’s Instructions
C Other property
Q Commercial revitalization deduction
20. Other information
See Form 8582 instructions
from rental real estate activities
A Investment income
Form 4952, line 4a
R Pensions and IRAs
See the Partner’s Instructions
B Investment expenses
Form 4952, line 5
S Reforestation expense deduction
See the Partner’s Instructions
C Fuel tax credit information
Form 4136
T Domestic production activities
D Qualified rehabilitation expenditures
information
See Form 8903 instructions
(other than rental real estate)
See the Partner’s Instructions
U
Qualified production activities income
Form 8903, line 7b
E
Basis of energy property
See the Partner’s Instructions
V Employer’s Form W-2 wages
Form 8903, line 17
F
Recapture of low-income housing
W Other deductions
See the Partner’s Instructions
credit (section 42(j)(5))
Form 8611, line 8
14.
Self-employment earnings (loss)
G
Recapture of low-income housing
credit (other)
Form 8611, line 8
Note: If you have a section 179 deduction or any partner-level deductions, see the
H Recapture of investment credit
See Form 4255
Partner’s Instructions before completing Schedule SE.
A Net earnings (loss) from
I
Recapture of other credits
See the Partner’s Instructions
}
J
Look-back interest—completed
self-employment
Schedule SE, Section A or B
}
long-term contracts
See Form 8697
B Gross farming or fishing income
See the Partner’s Instructions
K
Look-back interest—income forecast
C Gross non-farm income
See the Partner’s Instructions
method
See Form 8866
15.
Credits
L
Dispositions of property with
A Low-income housing credit
section 179 deductions
(section 42(j)(5)) from pre-2008
M Recapture of section 179 deduction
buildings
N
Interest expense for corporate
B Low-income housing credit
partners
(other) from pre-2008 buildings
O
Section 453(l)(3) information
C Low-income housing credit
P
Section 453A(c) information
(section 42(j)(5)) from
Q
Section 1260(b) information
See the Partner’s Instructions
post-2007 buildings
R
Interest allocable to production
D Low-income housing credit
See the Partner’s
expenditures
(other) from post-2007
Instructions
S
CCF nonqualified withdrawals
buildings
T
Depletion information—oil and gas
E Qualified rehabilitation
U Reserved
expenditures (rental real estate)
V
Unrelated business taxable income
F Other rental real estate credits
W Precontribution gain (loss)
G Other rental credits
X
Section 108(i) information
H Undistributed capital gains credit
Form 1040, line 73; check box a
}
Y
Net investment income
I
Biofuel producer credit
Z
Other information
J
Work opportunity credit
See the Partner's Instructions
K Disabled access credit

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