Form Id K-1 - Idaho Partner'S, Shareholder'S, Or Beneficiary'S Share Of Idaho Adjustments, Credits, Etc. - 2014 Page 4
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5Form ID K-1 - Page 2
EFO00201p4
08-27-14
Line f Withholding Paid on Behalf of Owner
A nonresident will need to remove allocated income from federal
A pass-through entity transacting business in Idaho, including
Schedule K-1 amounts before applying the apportionment factor
a trust or estate with income taxable in Idaho, must withhold
listed on line 1 to determine the amount of business income
income tax from a nonresident individual owner who isn't
apportioned to Idaho. Income allocated to Idaho (line 10)
included in a composite return. Enter the amount of Idaho
will then be added to the apportioned income to compute the
income tax withheld.
amounts of Idaho source income to report on Form 43 or 66.
PART A ALLOCATION AND APPORTIONMENT
Line 8 Allocated Income
If the entity is a trust or estate, skip Part A.
Enter the owner’s distributive share of the amount reported on
Form 65, line 27 or Form 41S, line 29. Include a schedule or use
Line 1 Total Income
Part E to identify the income.
Enter the owner’s distributive share of total income reported on
federal Form 1065, line 8, or federal Form 1120S, line 6.
Line 9 Nonbusiness Expense Offset
Enter the owner’s distributive share of the amount reported on
This amount doesn't go on the owner's Idaho return. It's used
Form 65, line 28 or Form 41S, line 30.
to calculate the interest expense offset related to tax-exempt
interest. If the owner isn't reporting a deduction for tax-exempt
Line 10 Income and Expenses Allocated to Idaho
interest, the owner won't use this information in preparing his
Enter the owner’s distributive share of nonbusiness income
Idaho return.
allocated to Idaho. This amount is net of the nonbusiness expense
offset and reported on Form 65, line 37 or Form 41S, line 39. Include
Line 2 Idaho Apportionment Factor
a schedule or use Part E to identify the income and expenses.
Enter 100% on this line if the entity is transacting all of its
business within Idaho; if not, enter the Idaho apportionment
PART B IDAHO ADJUSTMENTS
factor from Form 42, Part I, line 21.
Report all amounts at the owner's distributive share before
applying the Idaho apportionment factor.
This information is used by a part-year resident or nonresident
individual, trust, or estate to determine the amount of the entity's
Line 1 State, Municipal and Local Taxes Measured by Net
business income that must be reported as Idaho source income
Income
while a nonresident of Idaho. The apportionment factor doesn't
Enter the owner’s distributive share of the amount reported on
apply to allocated income (lines 8 through 10).
Form 65, line 18, Form 41S, line 21, or Form 66, Schedule B,
line 3. Include a schedule or use Part E to identify the amount
Lines 3 Through 7
and the governmental entity.
Lines 3 through 7 should be completed only by an entity that is
a partnership or is taxed as a partnership. All other entities skip
If the entity is filing an Idaho Form 66, the entity may be eligible
lines 3 through 7 and go to line 8. If the partner is an individual,
to claim a credit for taxes paid on Form 66, Schedule C, line 2.
trust, or estate, the partnership can skip lines 3 through 7.
Line 2 Bonus Depreciation Addition
Enter the owner’s share of the partnership’s total everywhere
For assets acquired prior to 2008 or after 2009 for which you
and Idaho property, payroll, and sales, net of intercompany
claimed bonus depreciation, enter the owner's distributive share
eliminations, in the spaces provided. These amounts can be
of the differences between the federal and Idaho depreciation
found on the partnership's Idaho Form 42. The capitalized
and gains and losses reported on Form 65, line 19, Form 41S,
rent expense on line 5 is the amount of rent expense net of
line 17, or Form 66, Schedule B, line 5.
intercompany rent expense after being capitalized by eight.
Line 3 Interest and Dividends Not Taxable Under the IRC
The owner's share of the partnership’s total everywhere and
Enter the owner’s distributive share of the amount reported on
Idaho property, payroll, and sales is determined by attributing
Form 65, line 17, Form 41S, line 20, or Form 66, Schedule B,
the partnership’s property, payroll, and sales to the owner in the
line 2. Except for amortization, don’t include expenses
same proportion as the owner’s distributive share of partnership
associated with the securities on this line. Report the expenses
income if reporting net income for the tax year or in the same
on line 7a.
proportion as the owner’s distributive share of partnership losses
if reporting a net loss for the tax year.
Line 4 Other Idaho Additions
Enter the owner’s distributive share of any other Idaho additions
These amounts are used if the owner is a partnership or a
not included on lines 1 through 3 above. Include a schedule or
corporation to compute its Idaho apportionment factor. The
use Part E to identify the additions.
amounts will be added to the entity's property, payroll, and sales
amounts in computing its Idaho factors if the income from the
Line 5 Interest from Idaho Municipal Securities
entity is business income to the entity.
Enter the owner’s distributive share of the amount reported on
Form 65, line 22, Form 41S, line 24, or Form 66, Schedule B,
Lines 8 Through 10
line 8. Except for amortization, don’t include expenses
Lines 8 through 10 are used by all owners. Nonresident
associated with the securities on this line. Report the expenses
individuals, trusts and estates will need to know what income
on line 7b.
is allocated income since this income is not apportioned to
determine Idaho source income. Instead, allocated income
Line 6 Interest on U.S. Government Obligations
and the related nonbusiness expense offset amount on line 9
Enter the owner’s distributive share of the amount reported on
is specifically sourced to a state. Income allocated to Idaho is
Form 65, line 23, Form 41S, line 25, or included in the amount on
listed on line 10. Provide a detailed breakdown of this income
Form 66, page 1, line 5. Except for amortization, don’t include
and related expenses on page 2, Part E.
expenses associated with the securities on this line. Report the
expenses on line 7c.
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