Instructions For Nj-1065 - Partnership Return And New Jersey Partnership Njk-1 (Page 6 of 17) in pdf

6______________________________________2013 Form 1065 ______________________________________

Every participating partner must make the election to be part

list must include each partner’s name, address and Federal

of the composite return in writing each year. The elections

Identification Number.

must be maintained in the partnership files. When filed, the

If a composite return is filed, check the box labeled

composite return must include a list of the partners who are

“Composite Return is filed for Nonresident Partners” at the

participating, as well as a list of those who have not elected, or

top of Form NJ-1065.

are not qualified, to participate in the composite return. The

Line By Line Instructions

commercial property is identified as Class 4A commercial

Reporting Period

property as defined in N.J.A.C. 18:12-2.2.

If you are reporting for a period other than calendar year

2013, enter the beginning and ending dates of your fiscal year.

Federal Partnership Income (Lines 1 – 11)

Partnership Name, Address, Identification

Enter the exact legal name, trade name, if any, and address of

Note: Tiered Partnerships must first complete Schedule A

the partnership. The legal name is the name in which the

and Partnerships that have had a Complete Liquidation

business owns property or acquires debt. Enter the trade name,

must complete Schedule L before completing the front of

registered alternate name, (d/b/a name) if different from the

Form NJ-1065.

partnership’s legal name.

Enter the partnership’s Federal Employer Identification

Line 1 - Ordinary Income (Loss) from Trade or Business

Number (FEIN), principal business activity and date the

Activities

business was started.

Enter on Line 1 the amount of ordinary income or loss derived

Enter the number of resident partners and the number of non-

from the partnership’s trade or business activities. This will be

resident or foreign partners in the spaces provided. Each

the amount reported on Line 1, Schedule K, Federal Form

partner’s residency status must be determined as of the close

1065.

of the partnership’s tax year.

Line 2 - Net Income (Loss) from Rental Real Estate

Check the appropriate boxes to indicate whether the return is

Activities

a(n)

Enter on Line 2 the net income or loss from rental real estate

 Initial return;

activities (attach a copy of your Federal Form 8825). This will

 Final return; or

be the amount reported on Line 2, Schedule K, Federal Form

 Amended return.

1065.

Check the appropriate boxes to indicate if

Line 3 - Net Income (Loss) from Other Rental Activities

 An application for a Federal extension is attached;

Enter on Line 3 the net income or loss from other rental

 Permission has been granted for a substitute method of

activities. This will be the amount reported on Line 3c,

allocation;

Schedule K, Federal Form 1065.

 Complete Liquidation;

 This is a Qualified Investment Partnership;

Line 4 - Guaranteed Payments to Partners

 This partnership is listed on a United States national stock

Enter on Line 4 the amount of guaranteed payments to

partners reported on Line 4, Schedule K, Federal Form 1065.

exchange;

 The partnership meets hedge fund status;

Line 5 - Interest Income

 This is an Investment Club that is exempt from the filing

Enter on Line 5 the amount of interest income reported on

fee and the requirement that a partnership make

Line 5, Schedule K, Federal Form NJ-1065.

payments on behalf of its nonresident owners in

Line 6 - Dividend Income

accordance with the criteria outlined in the “General

Enter on Line 6 the amount of dividend income reported on

Instructions;”

 A composite return is filed for nonresident partners;

Line 6, Schedule K, Federal Form 1065.

 This is a Tiered Partnership;

Line 7 - Royalty Income

 This is a General Partnership;

Enter on Line 7 the royalty income reported on Line 7,

 This is a Limited Partnership;

Schedule K, Federal Form 1065.

 This is a Limited Liability Company; or

 This is a Limited Liability Partnership.

Line 8 - Net Gain (Loss) from Disposition of Property

 During the period covered by the return, the partnership

Enter on Line 8 the total of the net short-term and long-term

gains and/or losses reported on Lines 8 and 9, Schedule K,

acquired or disposed of directly or indirectly a controlling

Federal Form 1065. Attach a copy of Schedule D, Federal

interest in certain commercial property.

Certain

Form 1065.

Instructions For Nj-1065 - Partnership Return And New Jersey Partnership Njk-1 Page 6

Related Articles

Related forms

Related Categories