Instructions For Form Nj-1065 - Partnership Return And New Jersey Partnership Njk-1 - 2011 Page 6
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176______________________________________2011 Form 1065 ___________________________________________
If a composite return is filed, check the box labeled
top of Form NJ-1065.
“Composite Return is filed for Nonresident Partners” at the
Line By Line Instructions
Federal Partnership Income (Lines 1 – 11)
Reporting Period
If you are reporting for a period other than calendar year
Note: Tiered Partnerships must first complete Schedule A
2011, enter the beginning and ending dates of your fiscal year.
and Partnerships that have had a Complete Liquidation
must complete Schedule L before completing the front of
Partnership Name, Address, Identification
Form NJ-1065.
Enter the exact legal name, trade name, if any, and address of
the partnership. The legal name is the name in which the
business owns property or acquires debt. Enter the trade name,
Line 1 - Ordinary Income (Loss) from Trade or Business
registered alternate name, (d/b/a name) if different from the
Activities
partnership’s legal name.
Enter on Line 1 the amount of ordinary income or loss derived
from the partnership’s trade or business activities. This will be
Enter the partnership’s Federal Employer Identification
the amount reported on Line 1, Schedule K, Federal Form
Number (FEIN), principal business activity and date the
1065.
business was started.
Line 2 - Net Income (Loss) from Rental Real Estate
Enter the number of resident partners and the number of non-
Activities
resident or foreign partners in the spaces provided. Each
Enter on Line 2 the net income or loss from rental real estate
partner’s residency status must be determined as of the close
activities (attach a copy of your Federal Form 8825). This will
of the partnership’s tax year.
be the amount reported on Line 2, Schedule K, Federal Form
Check the appropriate boxes to indicate whether the return is
1065.
a(n)
Initial return;
Line 3 - Net Income (Loss) from Other Rental Activities
Final return; or
Enter on Line 3 the net income or loss from other rental
Amended return.
activities. This will be the amount reported on Line 3c,
Schedule K, Federal Form 1065.
Check the appropriate boxes to indicate if
An application for a Federal extension is attached;
Line 4 - Guaranteed Payments to Partners
Permission has been granted for a substitute method of
Enter on Line 4 the amount of guaranteed payments to
partners reported on Line 4, Schedule K, Federal Form 1065.
allocation;
Complete Liquidation;
Line 5 - Interest Income
This is a Qualified Investment Partnership;
Enter on Line 5 the amount of interest income reported on
This partnership is listed on a United States national stock
Line 5, Schedule K, Federal Form NJ-1065.
exchange;
The partnership meets hedge fund status;
Line 6 - Dividend Income
This is an Investment Club that is exempt from the filing
Enter on Line 6 the amount of dividend income reported on
Line 6, Schedule K, Federal Form 1065.
fee and the requirement that a partnership make
payments on behalf of its nonresident owners in
Line 7 - Royalty Income
accordance with the criteria outlined in the “General
Enter on Line 7 the royalty income reported on Line 7,
Instructions;”
Schedule K, Federal Form 1065.
A composite return is filed for nonresident partners;
This is a Tiered Partnership;
Line 8 - Net Gain (Loss) from Disposition of Property
This is a General Partnership;
Enter on Line 8 the total of the net short-term and long-term
This is a Limited Partnership;
gains and/or losses reported on Lines 8 and 9, Schedule K,
This is a Limited Liability Company; or
Federal Form 1065. Attach a copy of Schedule D, Federal
This is a Limited Liability Partnership.
Form 1065.
During the period covered by the return, the partnership
Line 9 - Net IRC Section 1231 Gain (Loss)
acquired or disposed of directly or indirectly a controlling
Enter on Line 9 the net IRC Section 1231 gain or loss reported
interest in certain commercial property.
Certain
on Line 10, Schedule K, Federal Form 1065.
commercial property is identified as Class 4A commercial
property as defined in N.J.A.C. 18:12-2.2.
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