Instructions For Nj-1065 - Partnership Return And New Jersey Partnership Njk-1 (Page 9 of 17) in pdf

________________________________________2013 Form 1065 _______________________________________ 9

Multiply the amount from Line 22c, Column A by the

Line 20 - Income (Loss) from Tiered Partnership(s)

business allocation percentage on Line 16b, Form NJ-1065

Enter on Line 20, Column A, the amount, if any, of income or

(above). Enter the result on Line 22c, Column B.

loss from other partnerships as reported on Line 13, Column

A of Part II, Schedule A, Form NJ-1065.

If a substitute method of allocation was granted, enter the

Enter on Line 20, Column B, the amount, if any, of income or

actual New Jersey source amount.

loss from other partnerships as reported on Line 13, Column B

Line 23 – Net Gain (Loss) From the Disposition of Assets

of Part II, Schedule A, Form NJ-1065.

as a Result of a Complete Liquidation

Line 21 – Partnership Income (Loss)

Add Lines 19 and 20, Column A, and enter the sum on Line

Enter on Line 23, Column A, the amount from Line 12,

21, Column A.

Column D of Schedule L.

Add Lines 19 and 20, Column B, and enter the sum on Line

Enter on Line 23, Column B, the amount from Line 12,

21, Column B.

Column E of Schedule L.

Line 22a - Guaranteed Payments to Partners

Line 24 - Total Nonresident Noncorporate Partners Share

Enter on Line 22a the amount of guaranteed payments to part-

of Tax

ners reported on Line 15c of Form NJ-1065 (above).

Enter on Line 24, Column B, the total nonresident

Line 22b - Guaranteed Payments to Partners - Pension

noncorporate partners share of tax reported on Line 2c,

Enter on Line 22b the amount of guaranteed payments to

Column J of the Partners Directory.

retired partners who are receiving such payments as a result of

a period of service to the partnership pursuant to a retirement

agreement or pension plan.

Line 25 - Total Nonresident Corporate Partners Share of

Tax

Line 22c – Net Guaranteed Payments to Partners

Enter on Line 25, Column B, the total nonresident corporate

Subtract the amount on Line 22b from the amount on Line 22a

partners share of tax reported on Line 2c, Column K of the

and enter the result on Line 22c, Column A.

Partners Directory.

Partners Directory

If you are a “qualified investment partnership,” “investment

PARTNERS DIRECTORY

club”, listed on a United States national stock exchange; or

List the partners in order of their ownership interest in the

meet hedge fund status whose only nonresident partners are

partnership, beginning with the partner who holds the largest

individuals, estates or trusts, enter zero.

share.

Partnerships should verify the residency status of each partner

Note:

A partnership that is a “qualified investment

before completing Column A. Partnerships are not to remit

partnership”, an “investment club”, or that is listed on a

tax on behalf of resident partners. Resident partners will not

United States national stock exchange does not have to

receive a credit on their resident New Jersey tax returns for

complete Schedule J “Corporation Allocation Schedule.” A

any payments made on their behalf by the partnership.

partnership that meets hedge fund status and whose only

Column A: Use the following codes to identify the partner’s

nonresident partners are individuals, estates or trusts does not

residency status and type:

have to complete Schedule J. All other partnerships that have

nonresident noncorporate partners or nonresident corporate

- New Jersey Resident Individual

partners

must

complete

Schedule

“Corporation

- Nonresident Individual

Allocation Schedule” and file it with Form NJ-1065

- Part Year Resident Individual

Partnership Return. They must also complete columns H, I, J

- New Jersey Resident Partnership

- Nonresident Partnership

and K on the Partners Directory for each nonresident

NPM - Nonresident Partnership (see below)

noncorporate and nonresident corporate partner.

- New Jersey Resident Trust

- Nonresident Trust

Line 1 - Corporation Allocation Factor

- New Jersey Resident Estate

Enter the allocation factor from Line 5 of Schedule J

- Nonresident Estate

"Corporation Allocation Schedule" on Line 1 of the Partners

- New Jersey Corporation

Directory.

- Non-New Jersey Corporation

FCM - Non-New Jersey Corporation (see below)

Instructions For Nj-1065 - Partnership Return And New Jersey Partnership Njk-1 Page 9

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