Form 165 Schedule K 1 Nr PDF Details

The Arizona Form 165 Schedule K-1(NR), designated for 2011, serves as a critical tool for nonresident and out-of-state partners to report their share of income, deductions, and adjustments from partnerships operated within Arizona. This form details the process in which nonresident individuals, trusts, estates, and corporate partners must report and calculate their Arizona source income and adjust their federal income to conform to Arizona's taxation requirements. The form is divided into sections that guide partners through reporting ordinary income, net income or losses from various activities, such as rental real estate and other rental activities, dividends, interest, royalties, and capital gains. Moreover, it facilitates reporting adjustments necessary to align partnership income from federal to Arizona basis, incorporating specific lines for IRC Section 179 expense deductions and other modifications. Partners are provided with instructions on how to report these figures on their respective Arizona nonresident tax returns, emphasizing the treatment of passive activity losses and the necessary adjustments for income additions or subtractions based on Arizona statutes compared to federal tax regulations. Corporate partners, in particular, are directed towards additional forms and instructions to ensure compliance. The Form 165 Schedule K-1(NR) thus plays a pivotal role in ensuring that nonresident partners accurately report their income and comply with Arizona's tax obligations.

QuestionAnswer
Form NameForm 165 Schedule K 1 Nr
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesform 165 schedule k 1nr arizona nonresident and out of state partners share of income and deductions arizona form 165 2012 fillable

Form Preview Example

ARIZONA FORM

Arizona Nonresident and Out-of-State

2011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

165

 

 

Partner’s Share of Income and Deductions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule K-1(NR)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CHECK ONE:

 

 

 

 

M

 

M

 

D

 

D

 

Y

 

Y

 

Y

 

Y

 

 

 

M

 

M

 

D

 

D

 

Y

 

Y

 

Y

 

Y

 

 

Original Amended

 

For the calendar year 2011 or fi scal year beginning

 

 

 

 

 

 

 

 

 

and ending

 

 

 

 

 

 

 

 

 

.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Partner’s identifying number

 

Partnership’s employer identification number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Partner’s name, address, and ZIP code

Partnership’s name, address, and ZIP code

Partner’s percentage of:

Profit sharing........................................................................

Loss sharing.........................................................................

Ownership of capital.............................................................

Before change or termination

%

%

%

End of year

%

%

%

Type of partner (individual, trust, etc.):

NOTE: ALL CORPORATE PARTNERS MUST USE THIS SCHEDULE.

 

 

(a)

(b)

(c)

Form 140NR Filers

Part I - Distributive Share Items From

Distributive

Arizona

Arizona

Enter the Amount

 

Federal Form 1065, Schedule K-1

Share

Apportionment

Source

 

Amount

Ratio

Income

in Column (c) on:

 

 

 

 

 

 

 

 

1

Ordinary income (loss) from trade or business activities

 

 

 

 

2

Net income (loss) from rental real estate activities

 

 

 

 

3

Net income (loss) from other rental activities

 

 

 

 

4

Total - Add lines 1, 2 and 3

 

 

 

Line B11

5

Interest

 

 

 

Line B6

6

Dividends

 

 

 

Line B7

7

Royalties

 

 

 

Line B11

8

Net short-term capital gain (loss)

 

 

 

Line B10

9

Net long-term capital gain (loss)

 

 

 

Line B10

10

Guaranteed payments to partner

 

 

 

 

11

Net IRC Section 1231 gain (loss)

 

 

 

Line B10

12

Deferred amount of discharge of indebtedness income included

 

 

 

Line B11

 

in federal income in the current year under IRC Section 108(i)

 

 

 

 

13

Other income (loss) - attach schedule

 

 

 

Line B12

14

IRC Section 179 expense

 

 

 

Line B11

15

Deferred amount of original issue discount deduction included

 

 

 

 

 

in federal income in the current year under IRC Section 108(i)

 

 

 

Line B11

16

Other deductions - attach schedule

 

 

 

 

 

 

 

 

 

 

 

 

(a)

(b)

(c)

Form 140NR Filers

Part II - Partner’s Distributive Share of the Adjustment

Distributive

Arizona

Arizona

Enter the Amount

of Partnership Income From Federal to Arizona Basis

Share

Apportionment

Source

in Column (c) on:

Amount

Ratio

Income

 

 

 

 

 

 

 

 

 

17

Adjustment of partnership income from federal to Arizona

 

 

 

Line C20 or D31

 

basis - from Form 165, page 1, line 6

 

 

 

 

 

 

 

 

NOTE: Corporate partners see Form 120 or Form 120A instructions for information on reporting the amount from line 17.

ADOR 10345 (11)

2011 Arizona Nonresident and Out-of-State

Arizona Form

 

Partner’s Share of Income and Deductions

165

Schedule K-1(NR)

 

 

 

INSTRUCTIONS FOR INDIVIDUALSAND FIDUCIARIES

Column (c) is your Arizona source income. Nonresident individuals should report the amounts in column (c) on Form 140NR line numbers indicated on Form 165, Schedule K-1(NR). Nonresident trusts or nonresident estates should add lines 4 through 13, column (c), and enter the total on Form 141AZ, page 2, Schedule A.

However, if Form 165, Schedule K-1(NR) shows a loss, you may only claim such losses on your Arizona nonresident return to the extent that such losses are included in your federal adjusted gross income (individuals) or federal taxable income (trust and estates). Therefore, if the loss is considered to be a passive activity loss for federal purposes, the loss will likewise be considered to be a passive activity loss for Arizona purposes.

If you have a passive activity loss from a partnership that was derived from Arizona sources, you would not necessarily begin the Arizona return with the amounts shown in column (c) of Form 165, Schedule K-1(NR). For Arizona purposes, you must first determine if any portion of the loss shown on Form 165, Schedule K-1(NR) has been limited on your federal return because of the federal passive activity loss rules.

The amount of passive activity loss which is derived from Arizona sources is the amount of the passive activity loss which will be allowed on the Arizona return. Therefore, any portion of the passive activity loss which is not allowed on the federal return due to the passive activity loss limitations will likewise be limited on the Arizona return. That portion of the passive activity loss derived from Arizona sources which is required to be carried forward for federal purposes will similarly be carried forward for Arizona purposes.

Note: The amount of Internal Revenue Code § 179 expense deductible is limited to the Arizona portion of the amount deducted on federal Form 1040, Schedule E.

Line 17 -

Line 17 reflects the amount of partnership income which must be adjusted to determine the difference between Internal Revenue Code § 702(a)(8) and ARS § 43-1401(2). If the amount on line 17 is a positive number, individual partners should enter this amount as an “other addition to income” on Form 140NR, line C20. Fiduciaries should enter a positive amount on line 17 as an “other addition” on Form 141AZ, page 2, line B3. If the amount on line 17 is a negative number, individual partners should enter this amount as an “other subtraction from income” on Form 140NR, line D31. Fiduciaries should enter a negative amount on line 17 as an “other subtraction” on Form 141AZ, page 2, line B8.

INSTRUCTIONS FOR CORPORATE PARTNERS

Corporate partners should report the amount on line 17 of Form 165, Schedule K-1(NR) according to the instructions for Form 120 or Form 120A.

ADOR 10345 (11)

How to Edit Form 165 Schedule K 1 Nr Online for Free

Form 165 Schedule K 1 Nr can be filled out without difficulty. Simply open FormsPal PDF editing tool to complete the job right away. The tool is consistently maintained by our team, getting additional features and growing to be greater. To get the ball rolling, consider these easy steps:

Step 1: Firstly, access the pdf tool by clicking the "Get Form Button" at the top of this webpage.

Step 2: This editor offers the capability to change your PDF form in many different ways. Enhance it by writing any text, adjust what is already in the file, and add a signature - all doable within minutes!

Filling out this form calls for care for details. Make certain all required blanks are done properly.

1. The Form 165 Schedule K 1 Nr requires particular information to be inserted. Ensure the subsequent blank fields are finalized:

Filling in part 1 of Form 165 Schedule K 1 Nr

2. Soon after filling out the previous part, head on to the subsequent part and fill out the necessary particulars in all these blanks - Part I Distributive Share Items, Federal Form Schedule K, Ordinary income loss from trade, Net income loss from rental real, Net income loss from other rental, Total Add lines and, Interest, Dividends, Royalties, Net shortterm capital gain loss, Net longterm capital gain loss, Guaranteed payments to partner, Net IRC Section gain loss, Deferred amount of discharge of, and in federal income in the current.

in federal income in the current, Dividends, and Total Add lines and inside Form 165 Schedule K 1 Nr

3. This third step is fairly uncomplicated, Adjustment of partnership income, basis from Form page line, Line C or D, NOTE Corporate partners see Form, and ADOR - every one of these fields will need to be filled out here.

Part number 3 for completing Form 165 Schedule K 1 Nr

Be very attentive while filling out ADOR and basis from Form page line, because this is where many people make some mistakes.

Step 3: Glance through everything you have typed into the form fields and click on the "Done" button. Join FormsPal right now and instantly access Form 165 Schedule K 1 Nr, set for downloading. All changes you make are kept , allowing you to edit the file later on anytime. We don't share or sell the information that you enter whenever filling out forms at our website.

Form 165 Schedule K 1 Nr isn’t the one you’re looking for?

Related Documents