D 403 K 1 Form PDF Details

Navigating the intricacies of tax forms can often be a daunting task. Among the various forms that individuals and entities in North Carolina may encounter is the D-403 NC K-1, known as the Partner’s Share of North Carolina Income, Adjustments, and Credits for the 2020 tax year. This form plays a crucial role for partners in a partnership, as it outlines each partner's share of income, losses, adjustments, and credits that are to be reported on their individual tax returns. It requires meticulous attention to detail to ensure accuracy, from adhering to specific instructions on ink color to avoiding common errors like mixing different form types or using incorrect page scaling settings. For partners residing in North Carolina, information from the D-403 NC K-1 form contributes directly to several sections of the D-400 State Income Tax Return, including schedules related to income adjustments, tax credits, and withheld nonwage compensation. Furthermore, it outlines the unique reporting requirements for nonresidents, detailing how to account for their share of North Carolina taxable income and net tax paid. Given the complexity of state tax laws and the potential for costly mistakes, understanding every aspect of the D-403 NC K-1 form is essential for partners in North Carolina to ensure compliance and optimize their tax positions.

QuestionAnswer
Form NameD 403 K 1 Form
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other names Sales and Use Tax Division - ncdor.gov

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D-403 NC K-1

2020 Partner’s Share of

North Carolina Income,

Adjustments, and Credits

DOR

Use

Only

 

 

For calendar year 2020, or fiscal year beginning

(MM-DD)

 

 

 

 

 

 

 

 

 

2 0

and ending (MM-DD-YY)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Information About the Partnership

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Partnership’s Federal Employer ID Number

 

Partnership’s Name, Address, and Zip Code

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Information About the Partner

 

Partner’s Identifying Number

 

Partner’s Name, Address, and Zip Code

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

If the partner is a disregarded entity, enter the name and taxpayer identification number of the disregarded entity below:

Name of Disregarded Entity

 

Taxpayer Identification Number of Disregarded Entity

 

Partner’s Pro Rata Share Items

 

Amount

Individuals Filing Form

 

D-400 Enter Amount on:

All Partners

1.Share of partnership income (loss)

(Add Lines 1 through 11 of Schedule K-1, Federal Form 1065)

2.Additions to income (loss)

(From Form D-403, Part 4, Line 6)

a.Addition for bonus depreciation

b.Other additions to income (loss)

3.Deductions from income (loss)

(From Form D-403, Part 4, Line 7)

a.Deduction for bonus depreciation

b.Other deductions from income (loss)

4.Share of tax credits

(From Form D-403, Part 4, Line 8)

5.Share of tax withheld from nonwage compensation paid for personal services performed in N.C.

(Not included on Form D-403, Part 1, LIne 14c)

(This amount should already be included in federal adjusted gross income)

D-400, Schedule S, Line 3

D-400, Schedule S

(See Form D-400 instructions)

D-400, Schedule S, Line 23f

D-400, Schedule S

(See Form D-400 instructions)

Form D-400TC (See Form D-400 instructions)

D-400, Page 2, Line 20 (For N.C. residents only)

Nonresidents Only

6.Nonresident’s share of N.C. taxable income (loss)

(From Form D-403, Part 4, Line 17)

7.Nonresident’s share of net tax paid by the manager of the partnership (From Form D-403, Part 4, Line 20)

D-400, Schedule PN, Line 22

D-400, Page 2, Line 21c

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