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Investment Interest Expense

estate investment trust (REIT) on

Box 10. Other Income (Loss)

Deduction, for important information

line 11.

Losses reported in box 10

on making this election.

If the corporation reports only

may be limited. See

unrecaptured section 1250 gain from

Limitations on Losses,

If you have any foreign source

CAUTION

the sale or exchange of its business

Deductions, and

Credits, earlier.

qualified dividends, see the

assets, it will enter a dollar amount in

instructions for box 14, later.

CAUTION

box 8c. If it reports the other two types

Code A. Other portfolio income

(loss). The corporation will report

of unrecaptured gain, it will provide an

Box 6. Royalties

attached statement that shows the

portfolio income other than interest,

Report royalties on Schedule E (Form

ordinary dividend, royalty, and capital

amount for each type of unrecaptured

1040), line 4.

section 1250 gain.

gain (loss) income, and attach a

statement to tell you what kind of

Box 7. Net Short-Term Capital

If you have any foreign source

portfolio income is reported.

Gain (Loss)

unrecaptured section 1250

If the corporation held a residual

gain, see the instructions for

After applying the limitations on losses

CAUTION

interest in a real estate mortgage

box 14, later.

and deductions, report the net

investment conduit (REMIC), it will

short-term capital gain (loss) on

report on the statement your share of

Box 9. Net Section 1231 Gain

Schedule D (Form 1040), line 5. See

REMIC taxable income (net loss) that

(Loss)

Limitations on Losses, Deductions,

you report on Schedule E (Form

and

Credits, earlier.

The amount in box 9 is generally

1040), line 38, column (d). The

passive if it is from a:

Box 8a. Net Long-Term Capital

statement will also report your share

Rental activity, or

Gain (Loss)

of any “excess inclusion” that you

Trade or business activity in which

report on Schedule E (Form 1040),

After applying the limitations on losses

you didn't materially participate.

line 38, column (c), and your share of

and deductions, report the net

section 212 expenses that you report

However, an amount from a rental

long-term capital gain (loss) on

on Schedule E (Form 1040), line 38,

real estate activity isn't from a passive

Schedule D (Form 1040), line 12. See

column (e). If you itemize your

activity if you were a real estate

Limitations on Losses, Deductions,

deductions on Schedule A (Form

professional (defined earlier) and you

and

Credits, earlier.

1040), you may also deduct these

materially participated in the activity.

If you have any foreign source

section 212 expenses as a

net long-term capital gain

If the amount is either (a) a loss that

miscellaneous deduction subject to

isn't from a passive activity or (b) a

(loss), see the instructions for

the 2% limit on Schedule A (Form

CAUTION

box 14, later.

gain, report it on Form 4797, line 2,

1040), line 23.

column (g), after applying the basis

Code B. Involuntary conversions.

Box 8b. Collectibles (28%) Gain

and at-risk limitations on losses. See

This is your net loss from involuntary

Limitations on Losses, Deductions,

(Loss)

conversions due to casualty or theft.

and

Credits, earlier. Don't complete

After applying the limitations on losses

The corporation will give you a

columns (b) through (f) on line 2 of

and deductions, report collectibles

statement that shows the amounts to

Form 4797, Sales of Business

gain or loss on line 4 of the 28% Rate

be reported on Form 4684, Casualties

Property. Instead, enter “From

Gain Worksheet—Line 18 in the

and Thefts, line 34, columns (b)(i), (b)

Schedule K-1 (Form 1120S)” across

Instructions for Schedule D (Form

(ii), and (c).

these columns.

1040). See

Limitations on Losses,

If there was a gain (loss) from a

Deductions, and

Credits, earlier.

If the amount is a loss from a

casualty or theft to property not used

passive activity, see Passive Loss

Box 8c. Unrecaptured Section

in a trade or business or for

Limitations in the Instructions for Form

income-producing purposes, the

1250 Gain

4797. After applying the limitations on

corporation will provide you with the

There are three types of unrecaptured

losses and deductions, report the loss

information you need to complete

section 1250 gain. Report your share

following the Instructions for Form

Form 4684.

of this unrecaptured gain on the

8582 to figure how much of the loss is

Unrecaptured Section 1250 Gain

Code C. Section 1256 contracts

allowed on Form 4797. If the

Worksheet—Line 19 in the

and straddles. The corporation will

corporation had net section 1231 gain

Instructions for Schedule D (Form

report any net gain or loss from

(loss) from more than one activity, it

1040) as follows.

section 1256 contracts. Report this

will attach a statement that will identify

Report unrecaptured section 1250

amount on Form 6781, Gains and

the section 1231 gain (loss) from each

gain from the sale or exchange of the

Losses From Section 1256 Contracts

activity.

corporation's business assets on

and Straddles.

If you have any foreign source

line 5.

Code D. Mining exploration costs

net section 1231 gain (loss),

Report unrecaptured section 1250

recapture. The corporation will give

see the instructions for

gain from the sale or exchange of an

CAUTION

you a statement that shows the

box 14, later.

interest in a partnership on line 10.

information needed to recapture

Report unrecaptured section 1250

certain mining exploration costs

gain from an estate, trust, regulated

(section 617). See Pub. 535 for

investment company (RIC), or real

details.

-12-

Instructions for Schedule K-1 (Form 1120S) (2017)

Instructions For Schedule K-1 (Form 1120s) - Shareholder'S Share Of Income, Deductions, Credits, Etc. - 2017 Page 12

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