Form K-120s - Kansas Partnership Or S Corporation Income Booklet - 2013 Page 10
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16LINE INSTRUCTIONS FOR FORM K-120S, PAGE 1
Schedule K. For S corporations it is the total of amounts entered
TAXPAYER INFORMATION
on lines 2, 3c, 4, 5a, 6, 7, 8a, 9, and 10 of federal Schedule K.
Also include any gain from the sale of assets subject to section
Beginning and Ending Dates: Enter beginning and ending
179 that is not reported on Schedule K.
dates of the tax year, even if it is a calendar year.
Name and Address: PRINT or TYPE the name and address
LINE 2b—TOTAL DEDUCTIONS FROM SCHEDULE K: Enter
of the entity.
the allowable deductions listed on federal Schedule K. For
partnerships, this is the total of lines 12, 13b, 13c(2), and 13d of
EIN: Enter the federal Employer’s Identification Number.
federal Schedule K. For partners using Federal Form 1065-B,
Information for Items A through M: Complete all requested
the deductions are included in Line 2a above. For S corporations,
information.
this is the total of lines 11, 12b, 12c(2), and 12d of Schedule K.
•
A — Indicate whether the return is for a partnership or S
Contributions from Schedule K (Partnership, line 13a; or S
corporation. If federal form 1065 was filed, indicate a
Corporation, line 12a) may be deducted on line 2b unless the
partnership, if a federal form 1120S or other federal form
partner or shareholder is an individual. If the partner or
was filed, indicate an S corporation.
shareholder is an individual, and if they are itemizing deductions
•
B — Select a method to report income to Kansas. The
at the federal level, the contribution deductions should already
methods are described in the Definitions section on page 4.
be in their federal itemized deductions and no adjustment is
necessary on the Kansas individual return. If the partner or
•
C — Enter the NAICS code from Publication KS-1500,
shareholder is included in a composite return for Kansas
available from our web site:
(K-40C), they are required to use a standard deduction and not
•
D — Enter the date the business began in Kansas.
entitled to their share of the partnership or S corporation
•
E — Enter the date the business was discontinued in
contribution deduction or their credits.
Kansas, if applicable. If a final return is being filed due to
LINE 3—TOTAL: Add line 1 to line 2a and subtract line 2b.
liquidation, enter the date and also enclose a copy of the
Enter the result on line 3.
federal form that states the applicable federal code section.
•
F — Enter the two-letter abbreviation for the state of
LINE 4—TOTAL STATE AND MUNICIPAL INTEREST: Enter
incorporation and the date of that incorporation.
interest income received, credited, or earned by you during the
taxable year from any state or municipal obligations such as
•
G — Enter the two-letter abbreviation for the state of
bonds and mutual funds. Reduce the income amount by any
commercial domicile.
related expenses (such as management or trustee fees) directly
•
H — Enter the number of partners/shareholders that are
incurred in purchasing these state or political subdivision
listed on Part II.
obligations.
•
I — Mark this box if there are any tax credit schedules or
DO NOT include interest income on obligations of the state
supporting documentation enclosed with this return. If the
of Kansas or any Kansas political subdivision issued after
credit is initiated by this entity, enclose one credit schedule
December 31, 1987, or the following bonds exempted by Kansas
showing the total amount of credit claimed for all partners/
law: Board of Regents Bonds for Kansas Colleges and
shareholders. If the credit is passed to this entity from
Universities, Electrical Generation Revenue Bonds, Industrial
another entity, enclose one credit schedule showing the
Revenue Bonds, Kansas Highway Bonds, Kansas Turnpike
proportionate share of credit passed to this entity.
Authority Bonds and Urban Renewal Bonds.
•
J — Enter the original federal due date if other than the 15
th
If you are a partner or shareholder in a fund that invests in
rd
day of the 3
month after the end of the tax year.
both Kansas and other states’ bonds, only the Kansas bonds
•
K — Mark this box if any taxpayer information has changed
are exempt. Use the information provided by your fund
since the last return was filed in any boxes in this section
administrator to determine the amount of taxable (non-Kansas)
except for boxes H, I, L, or M.
bond interest to enter here.
•
L — Mark this box if a K-40C (composite schedule) is filed
LINE 5—TAXES ON OR MEASURED BY INCOME OR FEES OR
for this entity.
PAYMENTS IN LIEU OF INCOME TAXES: Enter the taxes on or
•
M — Mark this box if a K-120EL is filed.
measured by income or fees or payments in lieu of income
taxes which you deducted on your federal return in arriving at
INCOME
your federal ordinary income.
LINE 1—FEDERAL ORDINARY INCOME: Enter the federal
LINE 6—OTHER ADDITIONS TO FEDERAL INCOME: Enter on
ordinary income from federal Schedule K. A copy of certain pages
line 6 the following additions to your federal ordinary income:
of the federal return must be enclosed in all cases. See
•
Learning Quest 529 Education Savings Program. Enter the
instructions on page 3. For partners using federal Form 1065-B,
amount of any “nonqualified withdrawal” from the Learning
enter Line 1a from Form 1065-B, Schedule K.
Quest Savings Program.
LINE 2a—TOTAL OTHER INCOME FROM FEDERAL SCHEDULE
A tax credit for the additions below may be claimed on your
K: Enter the total of all other income listed on federal Schedule
tax return (schedule required):
K. For partners, this is the total of the amounts entered on lines
2, 3c, 4, 5, 6a, 7, 8, 9a, 10, and 11 of federal Schedule K. For
•
Community Service Contribution Credit. Enter the amount
partners using federal Form 1065-B, this is the total of the
of any charitable contribution claimed on your federal return
amounts entered on lines 1a, 2, 7 and 8 from Form 1065-B,
used to compute this credit on Schedule K-60.
Page 6
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