Form 807 - Composite Individual Income Tax Return - 2011 Page 4
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1
2
3
4Distributive Income Worksheet
2011 807, Page 4
total on this line. Make check payable to
Column A refers to Distributive Income categories from Schedule K form(s). Columns B and C refer to lines
“State of Michigan.” Write the firm’s
on the U.S. Form 1065 Schedule K and U.S. Form 1120S Schedule K. Column D is the list of amounts that
FEIN, “Composite Return,” and the tax
are added to arrive at total distributive income that is reported on Form 807, line 45.
year on the front of the check. To ensure
A
B
C
D
accurate processing of your return, send
U.S. Form 1065
U.S. Form 1120S
Distributive Income
Distributive Income Categories
Schedule K
Schedule K
Amounts
one check for each return type. If balance
due is less than $1, no payment is required.
Ordinary income (loss) from trade or business
1
1
activity
Line 25: Refund. If line 22 plus line 23
exceeds line 21, your overpayment will
Net income (loss) from rental real estate activity
2
2
be refunded.
Treasury will not refund
Net income (loss) from other rental activity
3c
3c
amounts less than $1.
Portfolio income (loss):
Pay, mail your completed return with
Interest income
5
4
payment to:
Michigan Department of Treasury
Dividend income
6a and 6b
5a and 5b
P.O. Box 30207
Royalty income
7
6
Lansing, MI 48909
Net short-term capital gain (loss)
8
7
Refund or zero return, mail your
Net long-term capital gain (loss)
completed return to:
9a
8a
Michigan Department of Treasury
Guaranteed payments
4
P.O. Box 30058
Net gain (loss) under section 1231
10
9
Lansing, MI 48909
Other income (loss)
11
10
Additions
TOTAL DISTRIBUTIVE INCOME
Lines 26 through 30: Enter
income
Add all amounts in Column D and carry total to Form 807, line 45.
from lines 2, 3c, 5, 6a, 6b, 7, 8, 9a, 10
and 11 of U.S. Form 1065 Schedule K and from lines 2, 3c,
been reported on another composite return. Attach a schedule
4, 5a, 5b, 6, 7, 8a, 9 and 10 of U.S. Form 1120S Schedule K.
showing the amount of income or loss attributable to each.
Guaranteed payments, income attributable to other Michigan
Line 39: Enter gains/losses from the sale of real or personal
fiduciaries or flow-through entities should be allocated to
property located in Michigan not subject to apportionment.
Michigan on lines 37 through 40. See instructions below.
Line 40: Enter any other income (loss) allocated to Michigan.
Line 31: Enter the amount of state and local income taxes that
Include any Michigan net operating loss deduction (NOLD).
was used to determine ordinary income on U.S. Form 1065, line
Attach schedules.
22 or U.S. Form 1120S, line 21.
Exemption Allowance
Line 32: Enter other additions to income, such as gross
interest and dividends from obligations or securities of states
Line 45: Enter the total distributive income as determined
and their political subdivisions other than Michigan.
using the worksheet on this page.
Subtractions
Line 46: Compute the percentage of income attributable to
Michigan by dividing total Michigan income (line 44) by the
Note: Charitable contributions and other amounts reported
total distributive income (line 45). This figure may not exceed
as itemized deductions on U.S. Schedule A are not allowable
100 percent.
subtractions in determining Michigan taxable income.
SEP, SIMPLE or Qualified Plan Subtractions
Line 34: Enter income (loss) from other fiduciaries or other
(PARTNERS ONLY)
flow-through entities that is included in ordinary income.
Losses must be added back to ordinary income. Attach a
Line 48: Figure the portions of Simplified Employee Pensions
schedule showing the location of companies and amount of
(SEP), Savings Incentive Match Plan for Employees (SIMPLE),
income attributable to each.
or qualified plan subtractions which are attributable to the
Line 35: Enter amounts such as interest from U.S. obligations
participants. Attach a schedule showing calculations.
that are included in line 28a, and other deductions for AGI
For More Information
(above the line) that were not included in determining ordinary
income. This includes section 179 depreciation and amounts
For more information, visit Treasury’s Web site at
included on line 12[c][2] of U.S. Form 1120S Schedule K and
on line 13[c][2] of U.S. Form 1065 Schedule K. Also include
Michigan tax forms are available at
pension benefits paid to nonresident partners that were
included in ordinary income but are excluded from Michigan
tax under section 114 of Title 4 of the U.S. Code. Attach a
Federal tax forms are available at
schedule of all subtractions.
Michigan Allocated Income or Loss
Line 37: Enter
the
portion
of
guaranteed
payments
attributable to services performed in Michigan by the nonresident
participants.
Line 38: Enter income or loss from other fiduciaries or other
flow-through entities attributable to Michigan that have not
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