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

(as defined in the Instructions for

corporation should also give you (a)

attached statement your share of both

Schedule D (Form 1040)) eligible for

the name of the corporation that

the fair market value and adjusted

the section 1202 exclusion. The

issued the qualified small business

basis of the property. Use these

corporation should also give you (a)

(QSB) stock, (b) your share of the

amounts to adjust your stock basis. If

the name of the corporation that

corporation's adjusted basis and sales

the corporation made a qualified

issued the QSB stock, (b) your share

price of the QSB stock, and (c) the

conservation contribution, it will report

of the corporation's adjusted basis

dates the QSB stock was bought and

the fair market value of the underlying

and sales price of the QSB stock, and

sold. To qualify for the section 1045

property before and after the

rollover:

donation, the type of legal interest

bought and sold. The following

contributed, and a description of the

1. You must have held an interest

additional limitations apply at the

conservation purpose furthered by the

in the corporation during the entire

shareholder level.

donation. If the corporation made a

period in which the corporation held

contribution of real property located in

1. You must have held an interest

the QSB stock (more than 6 months

a registered historic district, it will

in the corporation when the

prior to the sale),

report any information you will need to

corporation acquired the QSB stock

2. Your share of the gain eligible

take a deduction.

and at all times thereafter until the

for the section 1045 rollover can't

corporation disposed of the QSB

For more details, see Pub. 526,

exceed the amount that would have

stock.

Charitable Contributions, and the

been allocated to you based on your

Instructions for Schedule A (Form

2. Your share of the eligible

interest in the corporation at the time

1040). If your contributions are subject

section 1202 gain can't exceed the

the QSB stock was acquired, and

to more than one of the AGI

amount that would have been

3. You must purchase other QSB

limitations, see Pub. 526.

allocated to you based on your

stock (as defined in the Instructions

interest in the corporation at the time

Charitable contribution deductions

for Schedule D (Form 1040)) during

the QSB stock was acquired.

aren't taken into account in figuring

the 60-day period that began on the

your passive activity loss for the year.

date the QSB stock was sold by the

See Form 8949, Sales and Other

Don't enter them on Form 8582.

corporation.

Dispositions of Capital Assets,

Code A. Cash contributions (50%).

Schedule D (Form 1040), and the

See Form 8949, Schedule D (Form

Report this amount, subject to the

related instructions for details on how

1040), and the related instructions for

50% AGI limitation, on Schedule A

to report the gain and the amount of

details on how to report the gain and

(Form 1040), line 16.

the allowable exclusion.

the amount of the allowable

Gain eligible for section 1045

postponed gain.

Code B. Cash contributions (30%).

rollover (replacement stock

Report this amount, subject to the

Deductions

purchased by the corporation). The

30% AGI limitation, on Schedule A

corporation should also give you (a)

(Form 1040), line 16.

Box 11. Section 179 Deduction

the name of the corporation that

Code C. Noncash contributions

issued the qualified small business

Use this amount, along with the total

(50%). If property other than cash is

(QSB) stock, (b) your share of the

cost of section 179 property placed in

contributed, and if the claimed

corporation's adjusted basis and sales

service during the year from other

deduction for one item or group of

price of the QSB stock, and (c) the

sources, to complete Part I of Form

Shareholder'S Instructions For Schedule K-1 (Form 1120s) - 2016 Page 9

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