Schedule K-1 (Form 1120s) - Shareholder'S Share Of Income, Deductions, Credits, Etc. - 2014 Page 2

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2
Schedule K-1 (Form 1120S) 2014
Page
This list identifies the codes used on Schedule K-1 for all shareholders and provides summarized reporting information for shareholders who file Form 1040.
For detailed reporting and filing information, see the separate Shareholder’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
N
Credit for employer social
passive or nonpassive and enter on your return as follows:
security and Medicare taxes
See the Shareholder’s Instructions
Report on
O
Backup withholding
Passive loss
See the Shareholder’s Instructions
P
Other credits
Passive income
Schedule E, line 28, column (g)
14. Foreign transactions
}
Nonpassive loss
Schedule E, line 28, column (h)
A
Name of country or U.S.
Nonpassive income
Schedule E, line 28, column (j)
possession
2. Net rental real estate income (loss)
See the Shareholder’s Instructions
B
Gross income from all sources
Form 1116, Part I
C
Gross income sourced at
3. Other net rental income (loss)
shareholder level
Net income
Schedule E, line 28, column (g)
Foreign gross income sourced at corporate level
Net loss
See the Shareholder’s Instructions
}
D
Passive category
4. Interest income
Form 1040, line 8a
E
General category
Form 1116, Part I
5a. Ordinary dividends
Form 1040, line 9a
F
Other
5b. Qualified dividends
Form 1040, line 9b
Deductions allocated and apportioned at shareholder level
6. Royalties
Schedule E, line 4
G
Interest expense
Form 1116, Part I
7. Net short-term capital gain (loss)
Schedule D, line 5
H
Other
Form 1116, Part I
Deductions allocated and apportioned at corporate level to foreign source
8a. Net long-term capital gain (loss)
Schedule D, line 12
income
8b. Collectibles (28%) gain (loss)
28% Rate Gain Worksheet, line 4
}
I
Passive category
(Schedule D instructions)
J
General category
Form 1116, Part I
8c. Unrecaptured section 1250 gain
See the Shareholder’s Instructions
K
Other
9. Net section 1231 gain (loss)
See the Shareholder’s Instructions
Other information
10. Other income (loss)
L
Total foreign taxes paid
Form 1116, Part II
Code
M
Total foreign taxes accrued
Form 1116, Part II
A
Other portfolio income (loss)
See the Shareholder’s Instructions
N
Reduction in taxes available for
credit
Form 1116, line 12
B
Involuntary conversions
See the Shareholder’s Instructions
O
Form 8873
Foreign trading gross receipts
C
Sec. 1256 contracts & straddles
Form 6781, line 1
P
Extraterritorial income exclusion
Form 8873
D
Mining exploration costs recapture See Pub. 535
Q
Other foreign transactions
See the Shareholder’s Instructions
E
Other income (loss)
See the Shareholder’s Instructions
15. Alternative minimum tax (AMT) items
}
11. Section 179 deduction
See the Shareholder’s Instructions
}
A
Post-1986 depreciation adjustment
See the
12. Other deductions
B
Adjusted gain or loss
A
Cash contributions (50%)
Shareholder’s
C
Depletion (other than oil & gas)
B
Instructions and
Cash contributions (30%)
D
Oil, gas, & geothermal—gross income
C
Noncash contributions (50%)
the Instructions for
E
Oil, gas, & geothermal—deductions
See the Shareholder’s
Form 6251
D
Noncash contributions (30%)
F
Other AMT items
E
Capital gain property to a 50%
Instructions
16. Items affecting shareholder basis
organization (30%)
A
Tax-exempt interest income
Form 1040, line 8b
}
F
Capital gain property (20%)
B
Other tax-exempt income
G
Contributions (100%)
C
Nondeductible expenses
H
Investment interest expense
Form 4952, line 1
See the Shareholder’s
D
Distributions
Schedule E, line 19
I
Deductions—royalty income
Instructions
E
Repayment of loans from
J
Section 59(e)(2) expenditures
See the Shareholder’s Instructions
shareholders
K
Deductions—portfolio (2% floor)
Schedule A, line 23
17. Other information
L
Deductions—portfolio (other)
Schedule A, line 28
A
Investment income
Form 4952, line 4a
M
Preproductive period expenses
See the Shareholder’s Instructions
B
N
Commercial revitalization deduction
Investment expenses
Form 4952, line 5
C
from rental real estate activities
Qualified rehabilitation expenditures
See Form 8582 instructions
O
(other than rental real estate)
Reforestation expense deduction
See the Shareholder’s Instructions
See the Shareholder’s Instructions
D
Basis of energy property
See the Shareholder’s Instructions
P
Domestic production activities
E
information
Recapture of low-income housing
See Form 8903 instructions
Q
credit (section 42(j)(5))
Qualified production activities income Form 8903, line 7b
Form 8611, line 8
F
Recapture of low-income housing
R
Employer’s Form W-2 wages
Form 8903, line 17
}
credit (other)
S
Other deductions
See the Shareholder’s Instructions
Form 8611, line 8
G
Recapture of investment credit
See Form 4255
13. Credits
H
Recapture of other credits
See the Shareholder’s Instructions
A
Low-income housing credit (section
I
Look-back interest—completed
}
42(j)(5)) from pre-2008 buildings
long-term contracts
See Form 8697
B
Low-income housing credit (other) from
J
Look-back interest—income forecast
pre-2008 buildings
method
See Form 8866
C
Low-income housing credit (section
See the Shareholder’s
K
Dispositions of property with
42(j)(5)) from post-2007 buildings
Instructions
section 179 deductions
D
Low-income housing credit (other)
L
Recapture of section 179
from post-2007 buildings
deduction
E
Qualified rehabilitation expenditures
M
Section 453(l)(3) information
(rental real estate)
N
Section 453A(c) information
F
Other rental real estate credits
G
Other rental credits
O
Section 1260(b) information
See the Shareholder’s
Form 1040, line 73, box a
P
Interest allocable to production
H
Undistributed capital gains credit
}
Instructions
I
Biofuel producer credit
expenditures
J
Work opportunity credit
Q
CCF nonqualified withdrawals
K
Disabled access credit
R
Depletion information—oil and gas
See the Shareholder’s
L
Empowerment zone employment
S
Reserved
Instructions
credit
T
Section 108(i) information
M
Credit for increasing research
U
Net investment income
activities
V
Other information

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