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EFO00201p3

Instructions for Idaho Form ID K-1

07-14-15

GENERAL INSTRUCTIONS

SPECIFIC INSTRUCTIONS

Form ID K-1 is used to provide the shareholder, partner, or

All amounts on the Form ID K-1 should be included before

beneficiary of a pass-through entity (entity) with information

applying the Idaho apportionment factor of the entity. An owner

required to complete the pass-through owner’s (owner's) Idaho

who is a nonresident individual applies the Idaho apportionment

income tax return. Form ID K-1 isn't a substitute for the federal

factor in computing the amounts included on the Idaho individual

Schedule K-1. The information reported on the Form ID K-1

income tax return.

relates to Idaho law and identifies Idaho adjustments, allocation

HEADING AND QUESTIONS

and apportionment amounts, credits, and recapture amounts.

Form ID K-1 is used in conjunction with the federal Schedule K-1

Tax Year

File the 2015 form for calendar year 2015 or a fiscal year that

to prepare your Idaho return.

begins in 2015. If the entity’s tax year is a fiscal year, fill in the

A copy of each owner's federal Schedule K-1 and Form ID K-1

tax year space at the top of the form.

must be included with the entity's Idaho tax return filed by:

Final Return and Amended Return

● Every S corporation or partnership transacting business in

If this is the last year the entity is filing an Idaho income tax

return or if the entity is filing an amended Idaho return, check the

Idaho

● Every trust or estate required to file an Idaho income tax

applicable box at the top of the form.

return

Identification Numbers, Name, and Address

A copy of the Form ID K-1 must be provided to each owner. If

Indicate the entity’s federal employer identification number (EIN),

the entity has withheld income tax, the Form ID K-1 should be

business name, and mailing address in the spaces provided.

included with the owner's income tax return; otherwise, it should

be kept with the owner's records.

Indicate the owner's Social Security number or EIN, name, and

mailing address in the spaces provided.

REPORTING OF PASS-THROUGH ITEMS BY INDIVIDUAL

Check the appropriate boxes to identify the owner.

OWNERS

Resident owner

A resident of Idaho is taxed on the entire share of income from

If the owner is treated as a disregarded entity under the Internal

the entity even if the income is apportioned between Idaho and

Revenue Code (IRC), check the box.

other states.

Owner's Ownership Percentages

Part-year and nonresident owner

Enter the owner's ownership percentages as shown on the

Idaho part-year and nonresident shareholders/partners need to

owner's federal Schedule 1120S K-1, 1065 K-1, or 1041 K-1.

modify the amounts reported on the Form ID K-1 before entering

them on their Idaho income tax returns.

Line d Idaho Gross Income

Determine the owner's distributive share of the entity's gross

income and check the appropriate box. If the owner's distributive

Part-year resident owner

share of gross income is equal to or greater than $2,500, the

A part-year resident is considered to have earned the income

owner has a filing requirement in Idaho.

from an entity proportionately during the tax year.

Gross income is determined as provided in IRC sections 61(a),

For the portion of the year that the owner was a

691, 702(c), and 1366(c). These amounts can be reported

nonresident

● the owner uses the Idaho apportionment factor to

as non-separately stated items or as separately stated items

and can be found on various schedules. Gross income won't

determine the amount of Idaho source income.

generally tie to a specific line on the Form 41S, Form 65, or Form

66 because many of the amounts on the return are reported net

For the portion of the year that the owner was a

resident of Idaho

of expenses.

● all income and deductions are reported.

Income from an interest in a trust or estate is included within the

federal definition of gross income. This constitutes gross income

Nonresident owner

from the detailed rules of IRC Subtitle A, Chapter 1, Subchapter

The owner uses the Idaho apportionment factor to determine

the amount of Idaho source income from the entity.

J, Part I (section 641 and following). See Treas. Reg. section

1.61-13(a).

Qualified Investment Partnerships

Special rules apply to an owner who is a nonresident individual

Line e Tax Paid on Behalf of Owner

when the entity is a qualified investment partnership under

If the entity is paying the tax on behalf of the owner, enter the

Idaho law. A qualified investment partnership is an entity that

amount of tax paid on the line provided. The owner won’t be

is classified as a partnership for federal income tax purposes

required to file an Idaho individual income tax return for the tax

and isn’t a publicly traded partnership taxed as a corporation,

year in which the tax is paid by the entity on a composite return.

and has at least 90% of its gross income from investments

The option to have the entity pay the tax for the owner isn’t

whose income wouldn’t be taxed by Idaho if received directly

available to the following:

by a nonresident individual. Noninvestment income from an

Idaho source is subject to Idaho tax. If the entity is a qualified

● Residents

investment partnership, include a statement on Form ID K-1,

● Part-year residents who have Idaho taxable income from

Part E, Supplemental Information that the entity is a qualified

sources other than pass-through entities

investment partnership and that a nonresident may not be taxed

● Nonresidents who have Idaho taxable income from sources

on certain investment income.

other than pass-through entities

● Corporations, partnerships, or electing small business trusts,

or to any other person who isn’t an individual

Form Id K-1 - Partner'S, Shareholder'S, Or Beneficiary'S Share Of Idaho Adjustments, Credits, Etc. - 2015 Page 3

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