Schedule K-1 (Form 8865) - Partner'S Share Of Income, Deductions, Credits, Etc. - 2014 Page 2

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2
Schedule K-1 (Form 8865) 2014
Page
This list identifies the codes used on Schedule K-1 for partners and provides summarized reporting information for partners who file Form
1040. For detailed reporting and filing information, see the Partner’s Instructions for Schedule K-1 (Form 1065) and the instructions for your
income tax return.
}
Code
Report on
1.
Ordinary business income (loss). Determine whether the income (loss) is
J
Work opportunity credit
passive or nonpassive and enter on your return as follows:
K Disabled access credit
L
Report on
Empowerment zone employment
Passive loss
See Partner’s Instr. (Form 1065)
credit
Passive income
Schedule E, line 28, column (g)
M Credit for increasing research activities
See Partner’s Instr. (Form 1065)
Nonpassive loss
Schedule E, line 28, column (h)
N Credit for employer social
Nonpassive income
Schedule E, line 28, column (j)
security and Medicare taxes
O Backup withholding
2.
Net rental real estate income (loss)
See Partner’s Instr. (Form 1065)
P Other credits
3.
Other net rental income (loss)
Net income
Schedule E, line 28, column (g)
16. Foreign transactions
}
Net loss
See Partner’s Instr. (Form 1065)
A
Name of country or U.S.
possession
4.
Guaranteed payments
Schedule E, line 28, column (j)
Form 1116, Part I
B
Gross income from all sources
5.
Interest income
Form 1040, line 8a
C
Gross income sourced at partner level
6a. Ordinary dividends
Form 1040, line 9a
Foreign gross income sourced at partnership level
6b. Qualified dividends
Form 1040, line 9b
}
D
Passive category
7.
Royalties
Schedule E, line 4
General category
Form 1116, Part I
E
8.
Net short-term capital gain (loss)
Schedule D, line 5
F
Other
9a. Net long-term capital gain (loss)
Schedule D, line 12
Deductions allocated and apportioned at partner level
9b. Collectibles (28%) gain (loss)
28% Rate Gain Worksheet, line 4
G
Interest expense
Form 1116, Part I
(Schedule D instructions)
H
Other
Form 1116, Part I
9c. Unrecaptured section 1250 gain
See Partner’s Instr. (Form 1065)
Deductions allocated and apportioned at partnership level to
10.
Net section 1231 gain (loss)
See Partner’s Instr. (Form 1065)
foreign source income
}
11.
Other income (loss)
I
Passive category
Form 1116, Part I
J
General category
Code
A Other portfolio income (loss)
K
Other
See Partner’s Instr. (Form 1065)
See Partner’s Instr. (Form 1065)
Other information
B Involuntary conversions
L
C Sec. 1256 contracts & straddles
Form 6781, line 1
Total foreign taxes paid
Form 1116, Part II
D Mining exploration costs recapture See Pub. 535
M
Total foreign taxes accrued
Form 1116, Part II
N
Form 1116, line 12
E
Cancellation of debt
Form 1040, line 21 or Form 982
Reduction in taxes available for credit
O
Foreign trading gross receipts
Form 8873
F
Other income (loss)
See Partner’s Instr. (Form 1065)
P
Extraterritorial income exclusion
Form 8873
12. Section 179 deduction
See Partner’s Instr. (Form 1065)
}
Q
Other foreign transactions
See Partner’s Instr. (Form 1065)
13. Other deductions
}
17. Alternative minimum tax (AMT) items
A Cash contributions (50%)
A
Post-1986 depreciation adjustment
B Cash contributions (30%)
B
Adjusted gain or loss
See Partner’s Instr.
C Noncash contributions (50%)
C
(Form 1065) and the
Depletion (other than oil & gas)
D Noncash contributions (30%)
See Partner’s Instr. (Form 1065)
Instructions for
D
Oil, gas, & geothermal—gross income
E
Capital gain property to a 50%
E
Oil, gas, & geothermal—deductions
Form 6251
organization (30%)
F
Other AMT items
F
Capital gain property (20%)
18. Tax-exempt income and nondeductible expenses
G
Contributions (100%)
A
Tax-exempt interest income
Form 1040, line 8b
H
Investment interest expense
Form 4952, line 1
B
Other tax-exempt income
See Partner’s Instr. (Form 1065)
I
Deductions—royalty income
Schedule E, line 19
See Partner’s Instr. (Form 1065)
C
Nondeductible expenses
J
Section 59(e)(2) expenditures
See Partner’s Instr. (Form 1065)
K
Deductions—portfolio (2% floor)
Schedule A, line 23
19. Distributions
}
L
A
Cash and marketable securities
Deductions—portfolio (other)
Schedule A, line 28
B
Distribution subject to section 737
See Partner’s Instr. (Form 1065)
M
Amounts paid for medical insurance Schedule A, line 1 or Form 1040,
C
Other property
line 29
20. Other information
N
Educational assistance benefits
See Partner’s Instr. (Form 1065)
A
Investment income
Form 4952, line 4a
O
Dependent care benefits
Form 2441, line 12
B
Investment expenses
Form 4952, line 5
P
Preproductive period expenses
See Partner’s Instr. (Form 1065)
C
Fuel tax credit information
Form 4136
Q
Commercial revitalization deduction
D
Qualified rehabilitation expenditures
from rental real estate activities
See Form 8582 instructions
See Partner’s Instr. (Form 1065)
(other than rental real estate)
R
Pensions and IRAs
See Partner’s Instr. (Form 1065)
E
Basis of energy property
See Partner’s Instr. (Form 1065)
S
Reforestation expense deduction
See Partner’s Instr. (Form 1065)
F
Recapture of low-income housing
T
Domestic production activities
credit (section 42(j)(5))
Form 8611, line 8
information
See Form 8903 instructions
G
Recapture of low-income housing
U
Qualified production activities income
Form 8903, line 7b
credit (other)
Form 8611, line 8
V
Employer’s Form W-2 wages
Form 8903, line 17
H
Recapture of investment credit
See Form 4255
W
Other deductions
See Partner’s Instr. (Form 1065)
I
Recapture of other credits
See Partner’s Instr. (Form 1065)
14. Self-employment earnings (loss)
J
Look-back interest—completed
}
Note: If you have a section 179 deduction or any partner-level deductions, see the
See Form 8697
long-term contracts
Partner’s Instr. (Form 1065) before completing Schedule SE.
K
Look-back interest—income forecast
A Net earnings (loss) from
method
See Form 8866
self-employment
Schedule SE, Section A or B
Dispositions of property with
L
B Gross farming or fishing income
See Partner’s Instr. (Form 1065)
section 179 deductions
C Gross non-farm income
}
See Partner’s Instr. (Form 1065)
M
Recapture of section 179 deduction
Interest expense for corporate
N
15. Credits
partners
A
Low-income housing credit (section
O
Section 453(l)(3) information
42(j)(5)) from pre-2008 buildings
Section 453A(c) information
P
B
Low-income housing credit
Q
Section 1260(b) information
(other) from pre-2008 buildings
Interest allocable to production
R
C
Low-income housing credit (section
expenditures
See Partner’s Instr. (Form 1065)
42(j)(5)) from post-2007 buildings
See Partner’s Instr. (Form 1065)
S
CCF nonqualified withdrawals
D
Low-income housing credit (other)
T
Depletion Information—oil and gas
from post-2007 buildings
U
Reserved
E
Qualified rehabilitation
V
Unrelated business taxable income
expenditures (rental real estate)
F
Other rental real estate credit
W
Precontribution gain (loss)
G
Other rental credits
X
Section 108(i) information
H
Undistributed capital gains credit
Form 1040, line 73; box a
Y
Net investment income
I
Biofuel producer credit
See Partner’s Instr. (Form 1065)
Z
Other information

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