Form Ct-1065 - Connecticut Partnership Income Tax Return And Instructions

FORM CT-1065 INSTRUCTIONS

Attach a Complete Copy of Your Federal Form 1065 (Excluding K-1s)

Question H - If this question is answered “Yes,” the

General Instructions

partnership is liable for the controlling interest transfer

Enter the complete partnership name, address, Federal

tax. Enter the name of the entity in which a controlling

Employer Identification Number, and Connecticut Tax

interest was transferred and its Federal Employer

Registration Number. A Connecticut Tax Registration

Identification Number in the applicable spaces.

Number is only necessary if the partnership is required

to be registered for other taxes with DRS.

For information on the controlling interest transfer tax,

see Other Taxes for Which the Partnership May Be

Liable.

Rounding Off to Whole Dollars

Question I - Under I.R.C. §754, a partnership may

You must round off cents to the nearest whole dollar on

elect to adjust the basis of partnership property when

your return and schedules.

property is distributed or when a partnership interest is

transferred. Attach any information included with federal

Round down to the next lowest dollar all amounts that

Form 1065, U.S. Return of Partnership Income, relating

include 1 through 49 cents. Round up to the next highest

to an I.R.C. §754 election.

dollar all amounts that include 50 through 99 cents.

However, if you need to add two or more amounts to

compute the amount to enter on a line, include cents

Schedule A - Business Information

and round off only the total.

Complete Schedule A only if the partnership carries on

business both within and outside Connecticut. Enter

Example: Add two amounts ($1.29 + $3.21) to

compute the total ($4.50) to enter on a line. $4.50

the exact location of each place where the partnership

is rounded to $5.00 and entered on the line.

carries on business, briefly describe each place of

business (for example, sales office, agency, factory,

warehouse), and state whether it is rented or owned by

Questions A Through

the partnership. Briefly describe the activity at the

location shown (for example, storage, administration,

Question A - Check the appropriate boxes if filing an

manufacturing, wholesale sales, retail sales, and

amended return, final return (out of business in

commercial rental property).

Connecticut), or both.

Question B - Enter the total of the following: the number

of partners that are resident individuals, trusts, or estates;

Schedule B - Income Apportionment

the number of partners that are nonresident individuals,

Complete Schedule B only if all of the following apply:

trusts, or estates; the number of partners that are

partnerships or S corporations; and the number of

•

There are one or more nonresident partners;

partners that are neither individuals, trusts, estates,

•

The partnership carries on business both within

partnerships, nor S corporations.

and outside Connecticut; and

Question C - Enter the amount from federal Form 1065,

•

The partnership does not maintain books and

Schedule K, Line 1, ordinary income (loss) from trade

records that satisfactorily disclose the portion

or business activities.

of income, gain, loss, or deduction derived

from or connected with Connecticut sources.

Question D - Enter the date the partnership began

operating. Enter the date business began in Connecticut.

Schedule B must be completed even if an authorized

alternate allocation method is used. A detailed explanation

Question E - Check the box if any partners are corporate

of the authorized alternate method used to determine the

entities.

Connecticut income must be attached, together with full

Question F - Indicate whether the partnership owns,

details of any adjustments increasing or decreasing the

directly or indirectly, an interest in Connecticut real

amount of Connecticut income computed by the

property.

authorized alternate method.

Question G - If this question is answered “Yes,” and

Use the apportionment fraction on Line 8 to complete

the partnership owned, directly or indirectly, Connecticut

Schedule D and Schedule E.

real property, the transferor(s) is liable for the controlling

interest transfer tax. Enter the name and Social Security

Number or Federal Employer Identification Number of

the transferor(s).

Page 9

Form Ct-1065 - Connecticut Partnership Income Tax Return And Instructions - 2003 Page 9

Related Articles

Related forms

Related Categories