Schedule Ct K-1 - Member'S Share Of Certain Connecticut Items - 2013 Page 4
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4Column C: Enter the amount applied to the member’s 2013 income
member is required to fi le Form CT-1040NR/PY.
tax liability. Enter the lesser of Line 4, Column B, or Line 3, Column A.
Line 5: Balance of Income Tax Liability
•
If a member’s only income derived from or connected with
Subtract Line 4, Column C from Line 3, Column A. If less than zero,
Connecticut sources is from one or more PEs, but at least one
enter “0.”
of the PEs is not required to make a Connecticut income tax
payment on the member’s behalf because the member’s share
Line 6: Angel Investor Tax Credit
of that PE’s income derived from or connected with Connecticut
Column B: Enter the amount of angel investor tax credit earned
sources is less than $1,000, the member is required to fi le Form
from Part IV, Column A.
CT-1040NR/PY if the sum of the member’s income from all PEs
Column C: Enter the amount applied to the member’s 2013 income
is $1,000 or more. If the sum is less than $1,000, the member
tax liability. Enter the lesser of Line 6, Column B, or Line 5, Column A.
is not required to fi le Form CT-1040NR/PY.
Line 7: Balance of income Tax Liability
•
If a member’s only income derived from or connected with
Subtract Line 6, Column C from Line 5, Column A. If less than zero,
Connecticut sources is from one or more PEs and each PE
enter “0.”
is required to make a Connecticut income tax payment on the
member’s behalf because the member’s share of each PE’s
Line 8: Insurance Reinvestment Fund Tax Credit
income derived from or connected with Connecticut sources
Column B: Enter the amount of insurance reinvestment fund tax
is $1,000 or more, the member is not required to fi le Form
credit earned from Part IV, Column A.
CT-1040NR/PY.
Column C: Enter the amount applied to the member’s 2013 income
tax liability. Enter the lesser of Line 8, Column B, or Line 7, Column A.
Recipients That Are Trusts or Estates
Enter amounts from Schedule CT K-1, Part I, Lines 1 through
General Instructions for Recipients
5, on Form CT-1041, Connecticut Income Tax Return for Trusts
and Estates, Schedule A, Lines 1 through 5. Enter amounts from
Do not attach Schedule CT K-1 to your Connecticut income tax
Schedule CT K-1, Part I, Lines 6 through 10, on Form CT-1041,
return.
Schedule A, Lines 7 through 11.
Recipients That Are Resident Individuals
Enter amounts from Schedule CT K-1, Part II, Lines 1 through 13,
Enter amounts from Schedule CT K-1, Part I, Lines 1, through 5,
on the appropriate lines of Schedule CT-1041FA, Part III, Column B.
on Form CT-1040, Connecticut Resident Income Tax Return,
Enter the amount from Schedule CT K-1, Part III, Line 1, on Form
Schedule 1, Lines 31 through 38. Enter amounts from
CT-1041, Line 10. You are required to attach Schedule CT K-1 to
Schedule CT K-1, Part I, Lines 6 through 10, on Form CT-1040,
Form CT-1041.
Schedule 1, Lines 40 through 49.
If all or a portion of the amounts reported on Schedule CT K-1,
Use the amounts from Schedule CT K-1, Part IV, Column A, to
Part IV, Column A, is to be allocated between the trust and the trust
complete Schedule CT-IT Credit, Part I, Column C, where applicable,
benefi ciaries, use the amount reported to complete the worksheet
and Part II, Column D.
for Schedule CT-IT Credit found in the Form CT-1041, Connecticut
Use the Pass-through entity (PE) information on the upper left hand
Income Tax Return for Trusts and Estates, instructions booklet.
section of Schedule CT K-1 to complete Schedule CT-IT Credit,
If the trust is not allocating the amounts reported on Schedule CT
Part II.
K-1, Part IV, Column A, between the trust and the trust benefi ciaries
Recipients That Are Nonresident or Part-Year Resident
(the trust is claiming the entire amount of credit(s) reported in Column
Individuals
A), then use the amounts reported on Schedule CT K-1, Part IV,
Column A, to complete Schedule CT-IT Credit Part I, Column C,
Enter amounts from Schedule CT K-1, Part I, Lines 1 through 5,
where applicable, and Part II, Column D.
on Form CT-1040NR/PY, Connecticut Nonresident and Part-Year
Resident Income Tax Return, Lines 33 through 40. Enter amounts
Use the PE information on the upper left hand section of Schedule
from Schedule CT K-1, Part I, Lines 6 through 10, on Form
CT K-1 to complete Schedule CT-IT Credit, Part II.
CT-1040NR/PY, Lines 42 through 51.
Recipients That Are Parent PEs
Enter amounts from Schedule CT K-1, Part II, Lines 1 through 13,
Include the following for each of your members:
on the appropriate lines of Form CT-1040NR/PY, Schedule CT-SI.
•
The amounts from Schedule CT K-1, Part I, Lines 1 through 10,
Enter the amount from Schedule CT K-1, Part III, Line 1, on Form
in the amounts entered on the parent PE’s Form CT-1065/
CT-1040NR/PY, on one of the lines for income tax withheld
CT-1120SI, Part V, Lines 1 through 10.
(Lines 20a through 20g). Also enter the PE’s FEIN and the
•
The amounts from Schedule CT K-1, Part II, Lines 1 through 13,
Connecticut-sourced income. Check the box to indicate that the
in the amounts entered on the parent PE’s Form CT-1065/
information is from Schedule CT K-1.
CT-1120SI, Part VI, Lines 1 through 13.
Use the amounts from Schedule CT K-1, Part IV, Column A, to
•
The amounts from Schedule CT K-1, Part IV, Lines 1 through 4,
complete Schedule CT-IT Credit, Part I, Column C, where applicable,
Column A, on the parent PE’s Form CT-1065/CT-1120SI, Part VII,
and Part II, Column D.
Lines 1 through 4.
Use the Pass-through entity (PE) information on the upper left hand
Recipients that are parent PEs must also enter the amount from
section of Schedule CT K-1 to complete Schedule CT-IT Credit,
Schedule CT K-1, Part III, Line 1, on the parent PE’s Form CT-1065/
Part II.
CT-1120SI, Part I, Schedule D, Column C.
Recipients That Are Nonresident or Part-Year Resident
Individuals Are Required to File Form CT-1040NR/PY
•
If a member has income derived from or connected with
Connecticut sources other than from one or more PEs, the
Schedule CT K-1 (Rev. 12/13)
Page 4 of 4
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