Oregon Schedule K-1 - Distributive Share Of Income, Deductions, Credits, Etc. For Individual Owners Of Pass-Through Entities - 2013 Page 2
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1
2
3Instructions for Oregon Schedule K-1
For nonresidents—Complete both the federal column (a) and
The Oregon Schedule K-1 is used to provide an individual owner of
a pass-through entity (PTE) with information necessary to complete
the Oregon column (b). The amounts in the federal column (a)
their Oregon income tax return.
are reported as if the owner was a full-year Oregon resident. The
amounts in the Oregon column (b) are the Oregon source portion
PTEs are not required to use or submit this schedule with Oregon
of the item allocated or apportioned to Oregon. Report any tax
Form 65 or Form 20-S. Individual owners are not required to sub-
payments made on the owner’s behalf from the composite return
mit this schedule with their Oregon income tax returns.
on line 21 (Form OC) or any estimated payments made on the
owner’s behalf on line 20 (Form OR-19).
The Oregon Schedule K-1 is not designed to substitute for a fed-
eral Schedule K-1 and is not designed for owners that are corpora-
Column (a)—Federal Column
tions, estates, trusts, or other PTEs.
Lines 1–13—Enter the amounts from the federal Schedule K-1
Instructions for Pass-Through Entities
where appropriate. On line 13, report adjustments owners can
claim on their federal return from line 13 of federal Schedule K-1
Provide a copy of this form to individual owners for Oregon tax
(Form 1065) or line 12 of federal Schedule K-1 (Form 1120-S).
reporting purposes.
Lines 14–18—Enter the owner’s pro rata share for each addition
Heading—If this is a final or amended K-1, check the appropriate
and subtraction.
box. For a PTE filing for a fiscal or short tax year, enter the start
and end date for the K-1.
Column (b)—Pro rata share of Oregon source items
Part I—Pass-Through Entity (PTE) Information
For the Oregon amounts, you generally will multiply the owner’s
Oregon percentage by the owner’s pro rata share in the federal
Check the box according to how the PTE files: partnership or
column. Do not use lines 1–18 of the Oregon column (b) for full-
S corporation.
year residents.
Part II—Owner Information
Lines 1–13—Enter the owner’s pro rata share of income appor-
Owner’s SSN—Enter the owner’s Social Security number.
tioned and allocated to Oregon. Enter losses and adjustments in
parentheses.
Owner’s name, address, city, state and ZIP code—Enter the
owner’s full name, street address, city, state and zip code.
Lines 14–18—Enter the owner’s pro rata share of Oregon additions
and subtractions. Enter all amounts as positive.
Owner’s member type—Check the proper box to show if the
owner is a general partner, LLC member manager, limited partner
Line 20—Enter the owner’s share of Oregon credits.
or other LLC member, or shareholder.
Line 21—For nonresidents only, enter the total estimated tax
Oregon residency—Check the appropriate box. If the owner is a
payments submitted on behalf of the owner as reported on Form
nonresident, indicate the state of legal residence.
OR-19.
Nonresident owners—If the owner is a nonresident, check the
Line 22—For nonresidents only, enter the tax paid on behalf of the
appropriate box regarding the PTE’s requirements for this owner.
owner from Form OC.
If the owner joined a composite return (Form OC) filed by the PTE,
For other income, adjustments, additions, subtractions, and
mark the Form OC checkbox and complete line 21 in Part III. If the
credits, attach a separate schedule listing each item. Include the
nonresident owner did not join the Form OC, the PTE is generally
codes for individual income taxpayers. For the codes, see the list
required to submit estimated payments (PTE owner payments—
at the end of 2013 Publication 171/2 and the instructions regarding
Form OR-19). If the PTE made or was required to make PTE owner
partnership and S corporation modifications and credits. You may
payments on behalf of the owner, mark the Form OR-19 checkbox
use Schedule OR-ASC for resident owners or OR-ASC-N/P for
and complete line 20 in Part III. If payments weren’t submitted
nonresident owners to list the codes and amounts for each owner.
because the owner submitted an affidavit, mark the Affidavit
checkbox. If the PTE was not required to submit payments for this
Instructions for individual owners
owner, mark the not required checkbox.
Use the information provided to complete your Oregon return if
For more information on these requirements, see the Form OR-19
you are required to file. Do not attach the Oregon Schedule K-1
or Form OC instructions.
to your individual return. Keep the schedule with your tax records.
Owner’s share of profit and loss/stock ownership—Enter the
Losses may only be claimed to the extent that they are included
owner’s beginning and ending pro rata share percentage of profit
in federal adjusted gross income.
and loss, or stock ownership.
Nonresident individuals—If required to file, report the amounts on
Part III—Distributive Share Items
the lines of your Form 40N as indicated in column (c). The amounts
in column (a) should be included on your federal return which
Enter the Oregon apportionment percentage for the PTE. If all
should match the federal column of Form 40N. Enter the amounts
business was transacted within Oregon, enter 100%. Otherwise,
in column (b) of this schedule in the Oregon column of your Form
enter the amount from Schedule AP-1, line 22.
40N along with any other Oregon source income. Important: You
For Oregon residents—Complete lines 1-18 of the federal column
are not required to file an Oregon return if you participated in a
(a) and line 19, column (b). You will not use lines 1-18 of the Oregon
Form OC filed by this PTE unless you have other Oregon source
column (b) for Oregon residents.
income to report. The Form OC was filed and the tax was already
paid by the PTE on your behalf. If you have other Oregon source
150-101-002 (Rev. 12-13)
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