Schedule K-1 (Form 1065) - Partner'S Share Of Income, Deductions, Credits, Etc. - 2012 Page 2

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2
Schedule K-1 (Form 1065) 2012
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
J
Work opportunity credit
passive or nonpassive and enter on your return as follows.
K Disabled access credit
Report on
L
Empowerment zone and
See the Partner’s Instructions
Passive loss
renewal community
Passive income
Schedule E, line 28, column (g)
employment credit
Nonpassive loss
Schedule E, line 28, column (h)
M Credit for increasing research
Nonpassive income
Schedule E, line 28, column (j)
See the Partner’s Instructions
activities
2. Net rental real estate income (loss)
See the Partner’s Instructions
N Credit for employer social
3. Other net rental income (loss)
security and Medicare taxes
Net income
Schedule E, line 28, column (g)
O Backup withholding
Net loss
See the Partner’s Instructions
P Other credits
4. Guaranteed payments
Schedule E, line 28, column (j)
16. Foreign transactions
5. Interest income
Form 1040, line 8a
}
A Name of country or U.S.
6a. Ordinary dividends
Form 1040, line 9a
6b. Qualified dividends
possession
Form 1040, line 9b
B Gross income from all sources
7. Royalties
Schedule E, line 4
Form 1116, Part I
C Gross income sourced at
8. Net short-term capital gain (loss)
Schedule D, line 5
Schedule D, line 12
partner level
9a. Net long-term capital gain (loss)
9b. Collectibles (28%) gain (loss)
28% Rate Gain Worksheet, line 4
Foreign gross income sourced at partnership level
}
D Passive category
(Schedule D instructions)
E
General category
9c. Unrecaptured section 1250 gain
Form 1116, Part I
See the Partner’s Instructions
F
Other
10.
Net section 1231 gain (loss)
See the Partner’s Instructions
Deductions allocated and apportioned at partner level
11.
Other income (loss)
G
Interest expense
Form 1116, Part I
Code
H
Other
Form 1116, Part I
A Other portfolio income (loss)
See the Partner’s Instructions
B Involuntary conversions
Deductions allocated and apportioned at partnership level to foreign source
See the Partner’s Instructions
C Sec. 1256 contracts & straddles
Form 6781, line 1
income
}
D Mining exploration costs recapture See Pub. 535
I
Passive category
J
Form 1116, Part I
E Cancellation of debt
Form 1040, line 21 or Form 982
General category
F Other income (loss)
K
See the Partner’s Instructions
Other
Other information
12.
Section 179 deduction
See the Partner’s Instructions
L
Total foreign taxes paid
Form 1116, Part II
13.
Other deductions
}
A Cash contributions (50%)
M Total foreign taxes accrued
Form 1116, Part II
B Cash contributions (30%)
N
Reduction in taxes available for credit
Form 1116, line 12
C Noncash contributions (50%)
O
Foreign trading gross receipts
Form 8873
D Noncash contributions (30%)
P
See the Partner’s
Extraterritorial income exclusion
Form 8873
E Capital gain property to a 50%
Q Other foreign transactions
See the Partner’s Instructions
Instructions
organization (30%)
17. Alternative minimum tax (AMT) items
}
F Capital gain property (20%)
A Post-1986 depreciation adjustment
G Contributions (100%)
B Adjusted gain or loss
See the Partner’s
C Depletion (other than oil & gas)
Instructions and
H Investment interest expense
Form 4952, line 1
D Oil, gas, & geothermal—gross income
I
Deductions—royalty income
Schedule E, line 19
the Instructions for
E
Oil, gas, & geothermal—deductions
J Section 59(e)(2) expenditures
See the Partner’s Instructions
Form 6251
F
Other AMT items
K Deductions—portfolio (2% floor)
Schedule A, line 23
18. Tax-exempt income and nondeductible expenses
L Deductions—portfolio (other)
Schedule A, line 28
A Tax-exempt interest income
Form 1040, line 8b
M Amounts paid for medical insurance Schedule A, line 1 or Form 1040, line 29
B Other tax-exempt income
See the Partner’s Instructions
N Educational assistance benefits
See the Partner’s Instructions
C Nondeductible expenses
See the Partner’s Instructions
O Dependent care benefits
Form 2441, line 12
19. Distributions
P Preproductive period expenses
See the Partner’s Instructions
}
Q Commercial revitalization deduction
See Form 8582 instructions
A
Cash and marketable securities
B Distribution subject to section 737
from rental real estate activities
See the Partner’s Instructions
R Pensions and IRAs
C Other property
See the Partner’s Instructions
S Reforestation expense deduction
20. Other information
See the Partner’s Instructions
T Domestic production activities
See Form 8903 instructions
A Investment income
Form 4952, line 4a
B Investment expenses
Form 4952, line 5
information
U
Qualified production activities income
Form 8903, line 7b
C Fuel tax credit information
Form 4136
V Employer’s Form W-2 wages
D Qualified rehabilitation expenditures
Form 8903, line 17
See the Partner’s Instructions
W Other deductions
See the Partner’s Instructions
(other than rental real estate)
E
Basis of energy property
See the Partner’s Instructions
14.
Self-employment earnings (loss)
F
Recapture of low-income housing
Form 8611, line 8
Note. If you have a section 179 deduction or any partner-level deductions, see the
credit (section 42(j)(5))
Partner’s Instructions before completing Schedule SE.
G
Form 8611, line 8
Recapture of low-income housing
A Net earnings (loss) from
Schedule SE, Section A or B
credit (other)
self-employment
H Recapture of investment credit
See Form 4255
B Gross farming or fishing income
See the Partner’s Instructions
}
I
Recapture of other credits
See the Partner’s Instructions
C Gross non-farm income
See the Partner’s Instructions
J
Look-back interest—completed
See Form 8697
15.
Credits
long-term contracts
}
A Low-income housing credit
K
See Form 8866
Look-back interest—income forecast
(section 42(j)(5)) from pre-2008
method
buildings
L
Dispositions of property with
B Low-income housing credit
section 179 deductions
(other) from pre-2008 buildings
M Recapture of section 179 deduction
C Low-income housing credit
N
Interest expense for corporate
(section 42(j)(5)) from
partners
See the Partner’s Instructions
post-2007 buildings
O
Section 453(l)(3) information
D Low-income housing credit
P
Section 453A(c) information
(other) from post-2007
See the Partner’s
Q
Section 1260(b) information
buildings
Instructions
R
Interest allocable to production
E Qualified rehabilitation
expenditures
expenditures (rental real estate)
S
CCF nonqualified withdrawals
F Other rental real estate credits
T
Depletion information—oil and gas
G Other rental credits
U Amortization of reforestation costs
H Undistributed capital gains credit
Form 1040, line 71; check box a
V
Unrelated business taxable income
I
Alcohol and cellulosic biofuel fuels
See the Partner's Instructions
W Precontribution gain (loss)
credit
X
Section 108(i) information
Y
Other information

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