Form It-20s - Indiana S Corporation Income Tax Return - 2012 Page 3
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7Worksheet for S Corporation Distributive Share Income, Deductions, and Credits
Use this worksheet to compute the entry for line 1 of Form IT-20S and to assist in computing amounts reportable on or for
IT-20S Schedule IN K-1. Enter the total distributive share of income from each item reportable on Form 1120S, Schedule K.
Do not complete column B and C entry lines unless the corporation received distributive share or tiered income from other entities.
B.
C.
A.
Distributions from
Distributions
Distributive Share Amounts:
S Corporation
Partnerships/
Attributed to
Income
Estates/Trusts
S Corporation's Distributive Share of Items
Indiana
All Sources
Enter below for
Enter below for
1.
Ordinary business income (loss) .................................................
line 13B total
line 13C total
2.
Net rental real estate income (loss) .............................................
distributive
distributive share
3.
Other net rental income (loss) ......................................................
share income
income received
4.
Interest income .............................................................................
received by the
by the corporation
5a.
Ordinary dividends ........................................................................
corporation from
from partnerships,
6.
Royalties .......................................................................................
all non-unitary
estates and trusts
7.
Net short-term capital gain (loss) .................................................
partnerships,
that were derived
8.
Net long-term capital gain (loss) ..................................................
estates, and trusts.
from or allocated
9.
Net IRC Section 1231 gain (loss) ................................................
Enter for line 14B
to Indiana. Enter
10.
Other income (loss) ......................................................................
an amount equal
on line 14C an
Less allowable deductions for state tax purposes:
to required state
amount equal
modifications for
to the Indiana
11.
IRC Section 179 expense deduction ............................................
Indiana Adjusted
modifications for
12A. Portion of expenses related to investment portfolio income,
Gross Income.
Adjusted Gross
including investment interest expense and other (federal
(See page 7 for
Income attributed
non-itemized) deductions .............................................................
instructions.)
to Indiana.
12B. Other information from line 17 of federal K-1 related to
investment interest and expenses not listed elsewhere ...............
13. Carry total on line 13A to Form IT-20S line 1 on front page
13A
13B
13 C
of return ...................................................................................
14. Total of Indiana state modifications to distributive share income
14B
14 C
(see line 2, Form IT-20S) ..........................................................................................
15. Net Indiana adjusted gross income distributions from
15 C
partnerships, estates, and trusts (add lines 13C and 14C) .........................................................................
16. Enter amount of Indiana pass-through credits attributed from
16 C
partnerships, estates, and trusts, if any .......................................................................................................
Sales/Use Tax Worksheet
List all purchases made during 2012 from out-of-state companies.
Column A
Column B
Column C
Description of personal property purchased from
Date of Purchase(s)
Purchase Price
out-of-state retailer
Magazine subscriptions:
Mail order purchases:
Internet purchases:
Other purchases:
1. Total purchase price of property subject to the sales/use tax .............................................................
1
2. Sales/use tax: Multiply line 1 by .07 (7%) ...........................................................................................
2
3. Sales tax previously paid on the above items (up to 7% per item) .....................................................
3
4. Total amount due: Subtract line 3 from line 2. Carry to Form IT-20S, line 13. If the amount is
negative, enter zero and put no entry on line 13 of the IT-20S .............................................................
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