Instructions For The Special Partnership Informative Income Tax Return Form 480.10(E) (Page 3 of 9) in pdf

Instructions Form 480.10(E)

INSTRUCTIONS TO COMPLETE THE RETURN

HEADING OF THE RETURN

PART II - DISTRIBUTABLE SHARE PER

CATEGORY

If the taxable year of the special partnership is a

Enter the amount derived from each activity and the

calendar year, there is no need to enter the date on

which the taxable year begins and ends, only the

corresponding tax withheld, if any.

corresponding year. If it is a fiscal year, you must

enter the date in the space provided in the special

Line 1 - Net long term capital gain (or loss) on

partnership return.

sale or exchange of capital assets

Enter in the corresponding space the name, address

Enter the gain or loss derived from the sale or

and employer's identification number of the

exchange of capital assets held by the partnership

partnership. The employer's identification

more than six months.

number is required to process the return.

Line 2 - Net short term capital gain (or loss) on

Enter in the corresponding box the complete address

the sale or exchange of capital assets

where the business or principal office is located,

type of business, and the date and place created or

Enter the gain or loss derived from the sale or

incorporated.

exchange of capital assets held by the partnership

for six months or less.

Enter in the corresponding box the number of Forms

480.6 SE included with the return. A copy of the

Line 5 - Net income (or loss) of the partnership

Forms 480.6 SE given to each partner must be

from the eligible activity

included with the return.

Enter the net income or loss from the operations of

PART I - TYPE OF EXEMPTION

the eligible activities. Do not include the gains or

losses from lines 1, 2, 3, 4, 6, 7, 8 and 9 of this

Indicate if the entity had partially exempt income

Part II .

under the following acts:

The amount reflected on this line is used when the

Puerto Rico's Industrial Incentives Act of 1963,

taxpayer elects to treat certain items as ordinary

as amended (Act 57 of 1963)

income (Section 1335(b) of the Puerto Rico Internal

Revenue Code of 1994, as amended (Code)) and

Puerto Rico's Industrial Incentives Act of 1978,

by nonresident alien partners.

as amended (Act 26 of 1978)

Line 6 - Net income (or loss) from partially

Puerto Rico's Tax Incentives Act of 1987, as

exempt income

amended (Act 8 of 1987)

Enter on this line the sum of the net operating

income or loss covered under Act 52 of 1983,

Tourism Incentives Act of 1983, as amended (Act

52 of 1983)

Act 78 of 1993 or Act 225 of 1995. Add lines 3 of

Part I of all Schedules L (SP, IC, ESC) included

Puerto Rico's Tourism Development Act of 1993,

in the return.

as amended (Act 78 of 1993)

Line 7- Eligible distributions of dividends from

Agricultural Tax Incentives Act of Puerto Rico,

corporations or profits from partnerships

as amended (Act 225 of 1995)

The partners may claim in their returns the dividends

Also, indicate if the entity has an exemption decree

received by the special partnership from eligible

under Act 52 of 1983, Act 78 of 1993, Act 225 of

distributions according to the definition in Section

1995 or Act 47 of 1987.

1012(c) of the Code according to their distributable

share, along with the portion of 10% of tax withheld.

Instructions For The Special Partnership Informative Income Tax Return Form 480.10(E) Page 3

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