Shareholder'S Instructions For Schedule K-1 (Form 1120s)

you need to complete Form 3468

2439, and enter “Form 1120S” to the

Code P. Other credits. On a

related to rental real estate activities

right of line 73. Reduce the basis of

statement attached to Schedule K-1,

using code E. Your share of qualified

your stock by this tax.

the corporation will identify the type of

rehabilitation expenditures from

credit and any other information you

Code I. Biofuel producer credit.

property not related to rental real

need to figure credits other than those

Report this amount on line 3 of Form

estate activities will be reported in

reported with codes A through O.

6478, Biofuel Producer Credit, or

box 17 using code C. See the

Most credits identified by code P will

Form 3800, Part III, line 4c (see TIP,

Instructions for Form 3468 for details.

be reported on Form 3800, Part III

earlier).

If the corporation is reporting

(see TIP, earlier).

Code J. Work opportunity credit.

expenditures from more than one

Credits that may be reported with

Report this amount on line 3 of Form

activity, an attached statement will

code P include the following.

5884, Work Opportunity Credit, or

separately identify the expenditures

Unused investment credit from the

Form 3800, Part III, line 4b (see TIP,

from each activity.

qualifying advanced coal project

earlier).

Combine the expenditures (for

credit, qualifying gasification project

Form 3468 reporting) from box 13,

Code K. Disabled access credit.

credit, or qualifying advanced energy

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

Report this amount on line 7 of Form

project credit allocated from

expenditures related to rental real

8826, Disabled Access Credit, or

cooperatives (Form 3468, line 9).

estate activities (box 13, code E) are

Form 3800, Part III, line 1e (see TIP,

Unused investment credit from the

reported on Schedule K-1 separately

earlier).

rehabilitation credit or energy credit

from other qualified rehabilitation

allocated from cooperatives (Form

Code L. Empowerment zone em-

expenditures (box 17, code C)

3468, line 13).

ployment credit. Report this amount

because they are subject to different

Orphan drug credit (Form 8820).

on line 3 of Form 8844, Empowerment

passive activity limitation rules. See

Enhanced oil recovery credit (Form

Zone Employment Credit, or Form

the Instructions for Form 8582-CR for

8830).

3800, Part III, line 3 (see TIP, earlier).

details.

Renewable electricity, refined coal,

Code M. Credit for increasing re-

and Indian coal production credit. The

Code F. Other rental real estate

search activities. Report this

corporation will provide a statement

credits. The corporation will identify

amount on line 37 of Form 6765,

showing the allocation of the credit for

the type of credit and any other

Credit for Increasing Research

production during the 4-year period

information you need to figure these

Activities, or in Part III of Form 3800

beginning on the date the facility was

credits from rental real estate

(see TIP, earlier) as follows.

placed in service and for production

activities (other than the low-income

The S corporation will provide

after that period.

housing credit and qualified

information necessary to determine if

Indian employment credit (Form

rehabilitation expenditures). These

it is an eligible small business under

8845).

credits may be limited by the passive

section 38(c)(5)(C). If you and the S

Biodiesel and renewable diesel

activity limitations. If the credits are

corporation are eligible small

fuels credit. If this credit includes the

from more than one activity, the

businesses, report the credit on

small agri-biodiesel producer credit,

corporation will identify the credits

line 4i. For more information see the

the corporation will provide additional

from each activity on an attached

Instructions for Form 3800.

information on an attached statement.

statement. See

Passive Activity

All others, report the credit on

If no statement is attached, report this

Limitations, earlier, and the

line 1c.

amount on Form 8864, line 9. If a

Instructions for Form 8582-CR for

statement is attached, see the

details.

Code N. Credit for employer social

instructions for Form 8864, line 9.

security and Medicare taxes.

Code G. Other rental credits. The

New markets credit (Form 8874).

Report this amount on line 5 of Form

corporation will identify the type of

Credit for small employer pension

8846, Credit for Employer Social

credit and any other information you

plan startup costs (Form 8881).

Security and Medicare Taxes Paid on

need to figure these rental credits.

Credit for employer-provided

Certain Employee Tips, or Form 3800,

These credits may be limited by the

childcare facilities and services (Form

Part III, line 4f (see TIP, earlier).

passive activity limitations. If the

8882).

credits are from more than one

Code O. Backup withholding. This

Low sulfur diesel fuel production

is your share of the credit for backup

activity, the corporation will identify

credit (Form 8896).

withholding on dividends, interest

the credits from each activity on an

Qualified railroad track

income, and other types of income.

attached statement. See

Passive

maintenance credit (Form 8900).

Include this amount in the total you

Activity

Limitations, earlier, and the

Distilled spirits credit (Form 8906).

enter on Form 1040, line 64, and

Instructions for Form 8582-CR for

Energy efficient home credit (Form

attach a copy of your Schedule K-1 to

details.

8908).

your tax return. Instead of attaching a

Alternative motor vehicle credit

Code H. Undistributed capital

copy of your Schedule K-1 to your tax

(Form 8910).

gains credit. Code H represents

return, you can include a statement

Alternative fuel vehicle refueling

taxes paid on undistributed capital

with your return that provides the

property credit (Form 8911).

gains by a regulated investment

corporation's name, address, EIN,

Qualified zone academy bond

company or real estate investment

and backup withholding amount.

credit. Report this amount on Form

trust. Report these taxes on Form

8912.

1040, line 73, check box “a” for Form

-12-

Instructions for Schedule K-1 (Form 1120S) (2016)

Shareholder'S Instructions For Schedule K-1 (Form 1120s) - 2016 Page 12

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