Form 84 132 11 8 1 000 PDF Details

When it comes to understanding the intricacies of state taxation and the distribution of income within entities such as S-corporations or partnerships, the Mississippi Schedule K-1 2011 form, officially cited as Form 84-132-11-8-1-000 (Rev. 08/11), plays a pivotal role. This document is designed to provide detailed insights into the financial operations and obligations of both the entity and its members throughout the tax year. It encompasses a broad range of financial data, including but not limited to ordinary business income or losses, net rental real estate income, guaranteed payments to members, and specifics regarding partners' shares in income, deductions, credits, and various other financial items. Furthermore, the form serves as a critical tool for reporting the partner's share of current year income, adjustments, and tax credits, alongside detailing information about the entity itself and the personal details of the owners or partners involved. With segments delicately crafted to capture the essence of partnership or S-corporation financial dynamics, especially focusing on aspects like foreign transactions, self-employment earnings, and distributions affecting shareholder basis, this form ensures comprehensive reporting to both the partners and the Mississippi Department of Revenue. Accordingly, through capturing an array of financial activities and their tax implications, Form 84-132-11-8-1-000 facilitates a clear understanding of an entity's fiscal health and taxation commitments within the state of Mississippi.

QuestionAnswer
Form NameForm 84 132 11 8 1 000
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namesDistributions, S-Corporation, Mississippi, PTP

Form Preview Example

Form 84-132-11-8-1-000 (Rev. 08/11)

Mississippi

Schedule K-1 2011

 

 

Part I

 

Information About the Entity

 

 

 

 

Final K-1

Amended K-1

Composite

 

 

S-Corporation

 

Partnership

Part III

 

Partner's Share of Current Year Income,

 

 

 

 

 

 

 

 

 

 

 

 

 

Deductions, Credits and Other Items

 

A

Entity FEIN

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1

Ordinary Business Income (Loss)

15

Self-Employment Earnings (Loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

B Entity's Name, Address, City, State and ZIP Code

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2

Net Rental Real Estate Income (Loss)

16

Credits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

Other Net Rental Income (Loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

17

Foreign Transactions

 

C

If partnership box was checked above, is the partnership a

4

Guaranteed Payments

 

 

 

 

 

 

 

 

 

 

Publicly Traded Partnership (PTP)?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5

Interest Income

 

 

 

 

 

Part II

 

Information About the Owner / Partner

 

 

 

 

 

 

 

 

 

D

Owner / Partner's SSN or FEIN

 

 

 

 

 

6a

Ordinary Dividends

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

E

Owner / Partner's Name, Address, City, State and ZIP Code

6b

Qualified Dividends

 

 

 

 

 

 

 

 

 

 

 

 

 

7

Royalties

 

18

Alternative Minimum Tax (AMT) Items

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8

Net Short-Term Captial Gain (Loss)

 

 

 

 

F

General Partner or LLC

Limited Partner or Other LLC

 

 

 

 

 

 

 

 

 

Member-Manager

Member

 

 

 

9a

Net Long-Term Capital Gain (Loss)

19

Items Affecting Shareholder Basis

 

G

What type of entity is the partner?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9b

Collectibles (28%) Gain (Loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

H

Check box if 5% of the net gain / profit was withheld?

 

 

 

 

 

 

 

 

 

 

 

 

 

Enter amount of withholding remitted for Partner

 

 

 

 

 

 

 

 

 

$ ___________

 

 

9c

Unrecaptured Section 1250 Gain

20

Tax-Exempt Income and Nondeductible

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses

 

IPartner's Share of Profit, Loss and Capital:

 

 

 

 

 

 

 

 

 

 

 

10 Net Section 1231 Gain (Loss)

 

 

 

 

Beginning

 

Ending

 

 

 

 

Profit

%

 

 

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Income (Loss)

21

Distributions

 

Loss

%

 

 

 

 

11

 

 

 

%

 

 

 

 

 

 

 

Capital

%

 

 

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

J Partner's Share of Liablities at Year End:

 

12

Section 179 Deduction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nonrecourse

$

13

Charitable Contributions

22

Other Information

 

 

 

 

 

 

 

 

Qualified Nonrecourse Financing

$

 

 

 

 

 

 

 

 

 

 

 

Recourse

$

14

Other Deductions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

KPartner's Mississippi Capital Account Analysis:

Beginning Capital Account . .

$

 

 

 

 

 

Part IV

Mississippi Tax Credits

Capital Contributed During the Year

$

 

 

 

 

 

 

 

(Enter Credit Code and Name from Form 84-401)

 

 

 

 

 

 

 

 

 

 

 

Current Year Increase (Decrease)

$

 

 

 

 

 

Code

Credit

 

Amount

Withdrawals & Distributions

$

(

)

 

 

 

 

 

 

 

Ending Capital Account . . .

$

 

 

 

 

 

 

 

 

$

 

 

Tax Basis

GAAP

 

 

 

Other (Explain)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

LDid the Partner Contribute Property With a Bulit-in Gain or Loss?

Yes

No

If "Yes", Attach Statement.

 

 

 

 

$

 

 

 

 

 

M

Shareholder's Percentage of Stock Ownership for Tax Year

$

 

 

 

 

%

N

Mississippi Apportionment Ratio for Tax Year

$

 

 

 

 

%

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