Instructions For Form Ia 1065 - Partnership Return Of Income - 2014 Page 4
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5Part V
partner or member. The return will not be
Enter the partnership’s Iowa net income for
considered valid unless this requirement is
three preceding years.
met. Also include the signer’s title and
daytime phone number.
Signature:
The return must be signed and dated by a
Instructions for IA 1065 Schedule K-1: Partner’s Share of Income, Deductions, & Modifications
IA Schedule K-1 shows each partner’s share of
Enter the partnership’s BAR from page 1, Part
modifications,
all-source
income,
Iowa
IV, line 13, of the IA 1065.
apportioned income, and Iowa tax credits.
Part II: Partner’s Pro Rata Share Items:
Complete information for each partner in an
acceptable format must be provided. Forms IA
Column (a), lines 1 through 15(f):
1065 and IA Schedule K-1 are provided on our
Enter the same amounts as shown on the
website. Individual partners: When completing
federal Schedule
K-1. These
figures
are
the individual IA 1040, report the column (a)
reportable as part of income/loss on the IA
items.
In
addition,
individual
nonresident
1040.
partners report totals from column (c) on Iowa
Leave columns (b) and (c) blank for resident
form IA 126, Iowa Nonresident and Part-year
partners. Column (b), lines 1 through 15(f):
Resident Credit.
For nonresident partners only, enter the
Part I: General Information
partnership’s single factor Iowa BAR. The BAR
in column (b) must be applied equally to each
Partnership/LLC information
line item in column (a); no method of
Enter name and FEIN of partnership on each IA
“separate accounting” is allowed. Please see
Schedule K-1.
the
Department website ( )
for
more information on the BAR for investment
Partner information
partnerships.
Enter name, SSN or FEIN, and address of
Column (c), lines 1 through 15(f):
partner.
For nonresident partners only, multiply the
Check the amended box if the IA Schedule K-
amounts in column (a) by the percentage in
1 is part of an amended 1065 return.
column (b) and enter the product in column (c)
Check the appropriate box for the partner’s
for each line item. This is the amount
entity type.
apportionable to Iowa. Nonresidents: These
Check
either
the
resident
partner
or
figures may be reportable on your IA 126
nonresident
partner
box,
based
on the
nonresident schedule.
partner’s current address.
Enter partner’s percentage of ownership in the
Line 15(f) schedule: Show name and amount
partnership.
for each item reported on line 15(f).
Enter the partnership’s Iowa receipts, as
Line 16(a): Enter the partner’s all-source
reported on page 1, Part IV, line 12, column A,
modifications. This figure is equal to the
of the IA 1065*.
partnership’s all-source modifications multiplied
Enter the partnership’s total receipts, as
by
the
partner’s
ownership
percentage.
reported on page 1, Part IV, line 12, column B,
Individual partners: If this figure is a positive
of the IA 1065*.
amount, report it on line 14 of the IA 1040. If this
*If BAR is 100%, enter the Gross Receipts
figure is a negative amount, report it on line 24
from line 1a, page 1 of the federal 1065.
of the IA 1040.
Corporate partners: Include your share of the
Line 16(b): For nonresident partners only,
partnership’s Iowa receipts and total receipts
enter the Iowa BAR.
in the BAR on the IA 1120.
41-017d (08/06/14)
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