Schedule Ct K-1 - Member'S Share Of Certain Connecticut Items

Line 6: Angel Investor Tax Credit

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If a member’s only income derived from or connected with

Connecticut sources is from one or more PEs, but at least one

Column B: Enter the amount of angel investor tax credit earned

of the PEs is not required to make a Connecticut income tax

from Part IV, Column A.

payment on the member’s behalf because the member’s share

Column C: Enter the amount applied to the member’s 2014 income

of that PE’s income derived from or connected with Connecticut

tax liability. Enter the lesser of Line 6, Column B, or Line 5, Column A.

sources is less than $1,000, the member is required to ﬁ le Form

Line 7: Balance of income Tax Liability

CT-1040NR/PY if the sum of the member’s income from all PEs

Subtract Line 6, Column C from Line 5, Column A. If less than zero,

is $1,000 or more. If the sum is less than $1,000, the member

enter “0.”

is not required to ﬁ le Form CT-1040NR/PY.

Line 8: Insurance Reinvestment Fund Tax Credit

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If a member’s only income derived from or connected with

Column B: Enter the amount of insurance reinvestment fund tax

Connecticut sources is from one or more PEs and each PE

credit earned from Part IV, Column A.

is required to make a Connecticut income tax payment on the

member’s behalf because the member’s share of each PE’s

Column C: Enter the amount applied to the member’s 2014 income

income derived from or connected with Connecticut sources

tax liability. Enter the lesser of Line 8, Column B, or Line 7, Column A.

is $1,000 or more, the member is not required to ﬁ le Form

CT-1040NR/PY.

General Instructions for Recipients

Recipients That Are Trusts or Estates

Do not attach Schedule CT K-1 to your Connecticut income tax

return.

Enter amounts from Schedule CT K-1, Part I, Lines 1 through 5,

on Form CT-1041, Connecticut Income Tax Return for Trusts

Recipients That Are Resident Individuals

and Estates, Schedule A, Lines 1 through 5. Enter amounts from

Enter amounts from Schedule CT K-1, Part I, Lines 1, through 5,

Schedule CT K-1, Part I, Lines 6 through 10, on Form CT-1041,

on Form CT-1040, Connecticut Resident Income Tax Return,

Schedule A, Lines 7 through 11.

Schedule 1, Lines 31 through 38. Enter amounts from

Enter amounts from Schedule CT K-1, Part II, Lines 1 through 13,

Schedule CT K-1, Part I, Lines 6 through 10, on Form CT-1040,

on the appropriate lines of Schedule CT-1041FA, Part III, Column B.

Schedule 1, Lines 40 through 49.

Enter the amount from Schedule CT K-1, Part III, Line 1, on Form

Use the amounts from Schedule CT K-1, Part IV, Column A, to

CT-1041, Line 10. You are required to attach Schedule CT K-1 to

complete Schedule CT-IT Credit, Part I, Column C, where applicable,

Form CT-1041.

and Part II, Column D.

If all or a portion of the amounts reported on Schedule CT K-1,

Use the Pass-through entity (PE) information on the upper left hand

Part IV, Column A, is to be allocated between the trust and the trust

section of Schedule CT K-1 to complete Schedule CT-IT Credit,

beneﬁ ciaries, use the amount reported to complete the worksheet

Part II.

for Schedule CT-IT Credit found in the Form CT-1041, Connecticut

Recipients That Are Nonresident or Part-Year Resident

Income Tax Return for Trusts and Estates, instructions booklet.

Individuals

If the trust is not allocating the amounts reported on Schedule

CT K-1, Part IV, Column A, between the trust and the trust

Enter amounts from Schedule CT K-1, Part I, Lines 1 through 5,

beneﬁ ciaries (the trust is claiming the entire amount of credit(s)

on Form CT-1040NR/PY, Connecticut Nonresident and Part-Year

reported in Column A), then use the amounts reported on Schedule

Resident Income Tax Return, Lines 33 through 40. Enter amounts

CT K-1, Part IV, Column A, to complete Schedule CT-IT Credit Part I,

from Schedule CT K-1, Part I, Lines 6 through 10, on Form

Column C, where applicable, and Part II, Column D.

CT-1040NR/PY, Lines 42 through 51.

Enter amounts from Schedule CT K-1, Part II, Lines 1 through 13,

Use the PE information on the upper left hand section of Schedule

on the appropriate lines of Form CT-1040NR/PY, Schedule CT-SI.

CT K-1 to complete Schedule CT-IT Credit, Part II.

Enter the amount from Schedule CT K-1, Part III, Line 1, on Form

Recipients That Are Parent PEs

CT-1040NR/PY, on one of the lines for income tax withheld

Include the following for each of your members:

(Lines 20a through 20g). Also enter the PE’s FEIN and the

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The amounts from Schedule CT K-1, Part I, Lines 1 through 10,

Connecticut-sourced income. Check the box to indicate that the

in the amounts entered on the parent PE’s Form CT-1065/

information is from Schedule CT K-1.

CT-1120SI, Part V, Lines 1 through 10.

Use the amounts from Schedule CT K-1, Part IV, Column A, to

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The amounts from Schedule CT K-1, Part II, Lines 1 through 13,

complete Schedule CT-IT Credit, Part I, Column C, where applicable,

in the amounts entered on the parent PE’s Form CT-1065/

and Part II, Column D.

CT-1120SI, Part VI, Lines 1 through 13.

Use the Pass-through entity (PE) information on the upper left hand

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The amounts from Schedule CT K-1, Part IV, Lines 1 through 4,

section of Schedule CT K-1 to complete Schedule CT-IT Credit,

Column A, on the parent PE’s Form CT-1065/CT-1120SI, Part VII,

Part II.

Lines 1 through 4.

Recipients That Are Nonresident or Part-Year Resident

Recipients that are parent PEs must also enter the amount from

Individuals Are Required to File Form CT-1040NR/PY

Schedule CT K-1, Part III, Line 1, on the parent PE’s Form CT-1065/

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If a member has income derived from or connected with

CT-1120SI, Part I, Schedule D, Column C.

Connecticut sources other than from one or more PEs, the

member is required to ﬁ le Form CT-1040NR/PY.

Schedule CT K-1 (Rev. 12/14)

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Schedule Ct K-1 - Member'S Share Of Certain Connecticut Items - 2014 Page 4

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