Instructions For Form Ia 1065 - Partnership Return Of Income - 2014 Page 5
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5Line 16(c): For nonresident partners only,
multiply line 16(a) by the percentage on line
16(b) and enter here. Nonresident Partners: If
this entry is a positive amount, also enter it on
line 14 of the IA 126 form. If this entry is a
negative amount, enter it on line 24 of the IA
126 form.
Part
III:
Partner’s
Portion
of
IA
Credits/Withholding:
If
the
partnership
submitted Iowa withholding for the partner, enter
it in the current year amount column on the first
line of the schedule. If none, enter zero.
Note:
If paying a nonresident an Iowa nonwage
payment, Iowa income tax must be withheld at a
rate of 5% of the payment amount.
The
partnership
must
register
with
the
Iowa
Department of Revenue for withholding tax using
the Iowa Business Tax Registration form.
Nonresidents who prefer to make an Iowa
estimated payment instead must file an Iowa
Nonresident
Request
for
Release
from
Withholding form and submit the form with their
first estimated payment prior to April 30, 2015. If
a partnership is filing an IA 1040C return on
behalf of its nonresident partners no withholding
or estimated payments are required.
For all other credits, enter the tax credit name
in the first column. For awarded credits, enter
the certificate number in the second column.
Enter the partner’s share of the current-year
amount in the third column.
41-017e (08/06/14)
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