Schedule K-1 (Form 120s) - Arizona Resident Shareholder'S Information Schedule - 2013
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1ARIZONA FORM
120S
2013
Schedule K-1
Resident Shareholder’s Information Schedule
M M D D
2 0 1 3 and ending
M M D D Y Y Y Y
For the
calendar year 2013 or
fiscal year beginning
.
CHECK ONE:
Original
Amended
Shareholder’s Identifying Number
S Corporation’s Employer Identification Number (EIN)
Shareholder’s Name
S Corporation’s Name
Shareholder’s Address – number and street or rural route
S Corporation’s Address – number and street or rural route
Shareholder’s City, Town or Post Office
State ZIP Code
S Corporation’s City, Town or Post Office
State ZIP Code
%
Shareholder’s percentage of stock ownership for the taxable year:
Net Long-Term Capital Gain Subtraction – Information Schedule
INSTRUCTIONS FOR THE S CORPORATION:
Beginning in 2013, Arizona allows a subtraction from Arizona gross income for a percentage of any net long-term capital gain from
assets acquired after December 31, 2011, and included in the individual taxpayer’s federal adjusted gross income or the federal taxable
income of the estate or trust. Although the subtraction is only available to individuals, estates and trusts, an S corporation shareholder
that is a pass-through entity (estate or trust) will need this information to calculate its subtraction or complete the Arizona Form 141AZ,
Schedule K-1 or Schedule K-1(NR), for each beneficiary.
If the shareholder’s federal Schedule K-1 (Form 1120-S) includes capital gain (loss), complete line 1, column (a) and line 2, columns (a)
through (c). If the shareholder’s federal Schedule K-1 (Form 1120-S) does not include any capital gain (loss), the S corporation is not
required to complete this schedule or provide a copy to resident shareholders.
(a)
(b)
(c)
Net long-term capital gain
Net long-term capital gain
(loss) included in column (a)
(loss) included in column (a)
Pro Rata Share Items
from assets acquired before
from assets acquired after
From Federal Form 1120-S, Schedule K-1
Distributive Share Amount
January 1, 2012
December 31, 2011
1 Net short-term capital gain (loss)................................ 1
2 Net long-term capital gain (loss) ................................. 2
INSTRUCTIONS FOR THE INDIVIDUAL SHAREHOLDER:
To determine if you qualify to take a subtraction from income on your Arizona personal income tax return, the individual shareholder must
complete the Worksheet for Net Long-Term Capital Gain Subtraction for Assets Acquired After December 31, 2011. The worksheet is
included in the instructions for the resident and part-year resident income tax returns (Arizona Form 140 and Arizona Form 140PY).
Full-year residents use the amount on line 2, column (c) to figure the allowable subtraction on the worksheet included with Arizona
Form 140.
Part-year residents use only the amount on line 2, column (c) that is included in your Arizona gross income to figure the allowable
subtraction on the worksheet that is included with Arizona Form 140PY.
INSTRUCTIONS FOR THE FIDUCIARY SHAREHOLDER:
If the net long-term capital gain (loss) on line 2, above, is taxed at the estate or trust level, use the information above to complete the
Worksheet for Net Long-Term Capital Gain Subtraction for Assets Acquired After December 31, 2011, included in the instructions of
Arizona Form 141AZ for the estate or trust.
If the net long-term capital gain (loss) on line 2, above, is distributed to the beneficiaries, use the information above to complete the
Worksheet for Net Long-Term Capital Gain Subtraction for Assets Acquired After December 31, 2011, included in the instructions of
Arizona Form 141AZ. The worksheet will assist the estate or trust in completing the Net Long-Term Capital Gain Subtraction – Information
Schedule on Arizona Form 141AZ, Schedule K-1 or Schedule K-1(NR), for each beneficiary.
ADOR 11191 (13)
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