Form 807 - Michigan Composite Individual Income Tax Return - 2014 Page 2
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92014 807, Page 2
Federal Employer Identification Number
Name of Partnership, S Corporation or Other Flow Through Entity
ADDITIONS
(see instructions)
26. Net income (loss) from rental real estate activities .............................................................................
26.
00
27. Net income (loss) from other rental activities .....................................................................................
27.
00
28. Portfolio Income (loss) (see instructions):
a. Interest income .............................................................................................................................. 28a.
00
b. Dividend income ............................................................................................................................ 28b.
00
c. Royalty income .............................................................................................................................. 28c.
00
d. Net short-term capital gain (loss) (from U.S. Schedule K)............................................................. 28d.
00
e. Net long-term capital gain (loss) (from U.S. Schedule K) .............................................................. 28e.
00
f. Other portfolio income ................................................................................................................... 28f.
00
29. Net gain (loss) under Section 1231 ....................................................................................................
29.
00
30. Other income from U.S. Schedule K ..................................................................................................
30.
00
31. State or local taxes measured by income...........................................................................................
31.
00
32. Other miscellaneous additions (attach schedule) ...............................................................................
32.
00
33. Total additions. Add lines 26 through 32. Enter here and on line 6 ....................................................
33.
00
SUBTRACTIONS
(see instructions)
34. Income (loss) from other partnerships, S corporations and fiduciaries ..............................................
34.
00
35. Other miscellaneous subtractions (attach schedule) ..........................................................................
35.
00
36. Total subtractions. Add lines 34 and 35. Enter here and on line 8 .....................................................
36.
00
MICHIGAN ALLOCATED INCOME OR (LOSS)
37. Guaranteed payments to all members allocated to Michigan:
a. Participating nonresidents - for services performed in Michigan ................................................... 37a.
00
b. Nonparticipating nonresidents - for services performed in Michigan ............................................. 37b.
00
c. Michigan residents - total payments .............................................................................................. 37c.
00
38. Income attributable to other Michigan partnerships, S corporations or fiduciaries .............................
38.
00
39. Net Michigan capital gains (losses) not subject to apportionment (from U.S. Schedule D) ...............
39.
00
40. Other Michigan allocated income (loss) (see instructions) .................................................................
40.
00
41. Total Michigan allocated income (loss).
Add lines 37a through 40. Enter here and on line 12 .........................................................................
41.
00
EXEMPTION ALLOWANCE
42. Michigan income to participants from line 16 .....................................................................................
42.
00
43. Total income from Participants’ Total Income Worksheet, page 9 ......................................................
43.
00
44. Percent of income attributable to Michigan.
Divide line 42 by line 43 (must be between 0 and 100%)...................................................................
44.
%
45. Prorated exemption allowance per participant.
Multiply line 44 by $4,000 (exemption allowance). .............................................................................
45.
00
46. Number of participants included in this return ....................................................................................
46.
47. Total prorated exemption (see instructions)........................................................................................
47.
00
SEP, SIMPLE OR QUALIFIED PLAN DEDUCTIONS (PARTNERS ONLY)
48. SEP, SIMPLE or qualified plan deductions for participants (attach schedule) ....................................
48.
00
49. Percent of income attributable to Michigan from line 44.....................................................................
49.
%
50. SEP, SIMPLE or qualified plan deductions attributable to Michigan.
Multiply line 48 by the percentage on line 49. Enter here and on line 18 ...........................................
50.
00
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