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qualifying for an extraterritorial income

attached by the corporation on the

Code B. Investment expenses.

exclusion from other sources.

applicable lines of Form 6251 or

Report this amount on Form 4952,

Schedule I (Form 1041).

line 5.

When asked for, the

corporation should furnish you

Box 16. Items Affecting

Code C. Qualified rehabilitation ex-

TIP

a copy of the corporation's

penditures (other than rental real

Shareholder Basis

Form 8873 if there is a reduction for

estate). The corporation will report

international boycott operations,

your share of qualified rehabilitation

Code A. Tax-exempt interest in-

illegal bribes, kickbacks, or similar

expenditures and other information

come. Report on your return, as an

items.

you need to complete Form 3468 for

item of information, your share of the

property not related to rental real

tax-exempt interest received or

Code Q. Other foreign transac-

estate activities in box 17 using code

accrued by the corporation during the

tions. On a statement attached to

C. Your share of qualified

year. Individual shareholders include

Schedule K-1, the corporation will

rehabilitation expenditures related to

this amount on Form 1040, line 8b.

report any other information on foreign

rental real estate activities is reported

Generally, you must increase the

transactions that you may need using

in box 13 using code E. See the

basis of your stock by this amount.

code Q.

Instructions for Form 3468 for details.

Code B. Other tax-exempt income.

If the corporation is reporting

Box 15. Alternative

Generally, you must increase the

expenditures from more than one

basis of your stock by the amount

Minimum Tax (AMT) Items

activity, the attached statement will

shown, but don't include it in income

separately identify the expenditures

Use the information reported in box 15

on your tax return.

from each activity.

(as well as your adjustments and tax

Code C. Nondeductible expenses.

preference items from other sources)

Combine the expenditures (for

The nondeductible expenses paid or

to prepare your Form 6251,

Form 3468 reporting) from box 13,

incurred by the corporation aren't

Alternative Minimum

code E, and from box 17, code C. The

deductible on your tax return.

Tax—Individuals, or Schedule I (Form

expenditures related to rental real

Generally, you must decrease the

1041), Alternative Minimum

estate activities (box 13, code E) are

basis of your stock by this amount.

Tax—Estates and Trusts.

reported on Schedule K-1 separately

from other qualified rehabilitation

Code D. Property distributions.

Code A. This amount is your share of

expenditures (box 17, code C)

Reduce the basis of your stock (as

the corporation's post-1986

because they are subject to different

explained earlier) by distributions, not

depreciation adjustment. If you are an

passive activity limitation rules. See

reported on Form 1099-DIV, of

individual shareholder, report this

the Instructions for Form 8582-CR for

property or money. This amount will

amount on Form 6251, line 18.

details.

include any amounts included in

Code B. This amount is your share of

income with respect to new clean

Code D. Basis of energy property.

the corporation's adjusted gain or

renewable energy, qualified energy

If the corporation provides an

loss. If you are an individual

conservation, qualified school

attached statement for code D, use

shareholder, report this amount on

construction, build America, or (for

the information on the statement to

Form 6251, line 17.

bonds issued after October 3, 2008)

complete lines 12a–12d, 12f, 12g, 12i,

qualified zone academy bonds. If

Code C. This amount is your share of

12j, 12l, 12m, 12o, and 12q–12u of

these distributions exceed the basis of

the corporation's depletion

Form 3468.

your stock, the excess is treated as

adjustment. If you are an individual

Codes E and F. Recapture of

capital gain from the sale or exchange

shareholder, report this amount on

low-income housing credit. The

of property and is reported on Form

Form 6251, line 9.

corporation will identify by code E

8949 and Schedule D (Form 1040).

Codes D and E. Oil, gas, & geo-

your share of any recapture of a

Code E. Repayment of loans from

thermal properties—Gross income

low-income housing credit from its

shareholders. If these payments are

and deductions. The amounts

investment in partnerships to which

made on a loan with a reduced basis,

reported on these lines include only

the provisions of section 42(j)(5)

the repayments must be allocated in

the gross income (code D) from, and

apply. All other recapture of

part to a return of your basis in the

deductions (code E) allocable to, oil,

low-income housing credits will be

loan and in part to the receipt of

gas, and geothermal properties

identified by code F.

income. See Regulations section

included in box 1 of Schedule K-1.

Keep a separate record of each

1.1367-2 for information on reduction

The corporation should have attached

type of recapture so that you will be

in basis of a loan and restoration in

a statement that shows any income

able to correctly figure any credit

basis of a loan with a reduced basis.

from or deductions allocable to such

recapture that may result from the

See Rev. Rul. 64-162, 1964-1 (Part 1)

properties that are included in boxes 2

disposition of all or part of your

C.B. 304, and Rev. Rul. 68-537,

through 12, 16, and 17 of

corporate stock. For details, see Form

1968-2 C.B. 372, for details.

Schedule K-1. Use the amounts

8611.

reported here and any other reported

Box 17. Other Information

Code G. Recapture of investment

amounts to help you figure the net

credit. The corporation will provide

amount to enter on Form 6251,

Code A. Investment income.

any information you need to figure

line 26.

Report this amount on Form 4952,

your recapture tax on Form 4255,

Code F. Other AMT items. Report

line 4a.

Recapture of Investment Credit. See

the information on the statement

-18-

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 18

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