Nc K1 D 407 Form PDF Details

The Nc K1 D 407 form is an important document for those who own business assets and need to file their taxes. This form is specifically designed by the North Carolina Department of Revenue (NCDOR) to simplify the process and ensure accuracy in reporting income earned from businesses. By understanding the purpose of this specific NCDOR form and how it should be filled out, you can start preparing your taxes more efficiently while avoiding costly mistakes that could result in a tax audit. In this blog post, we'll walk you through what information needs to be provided on this form as well as tips for filing out your return accurately so you can get started with confidence!

QuestionAnswer
Form NameNc K1 D 407 Form
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other names www.ncdor.gov media 11655North Carolina Department of Revenue Third-Party ... - ncdor.gov

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WEB 8-20

D-407 NC K-1

2020 Beneficiary’s Share of North Carolina Income, Adjustments, and Credits

For calendar year 2020, or fiscal year beginning

20 endingAND

(MM-DD)

(MM-DD-YY)

DOR

Use

Only

 

Estate’s or Trust’s Federal Employer ID Number

Beneficiary’s Identifying Number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Estate’s or Trust’s Name, Address, and Zip Code

Beneficiary’s Name, Address, and Zip Code

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beneficiary’s Pro Rata Share Items

Amount

Individuals Filing Form

D-400 Enter Amount on:

 

 

 

 

 

 

 

 

All Beneficiaries

1.Beneficiary’s share of income (loss)

(Beneficiary’s share of amount from Federal Form 1041, Line 18)

2.Beneficiary’s share of additions to income (loss)

(From Form D-407, Schedule B, Line 4)

3.Beneficiary’s share of deductions from income (loss)

(From Form D-407, Schedule B, Line 5)

4.Share of tax paid to another state or country

(From Form D-407TC, Part 5, Section A, Line 4)

5.SHARE OF OTHER TAX CREDITS

Nonresidents Only

6.PORTION OF LINE 1 ABOVE THAT IS FROM N.C. SOURCES (Do not include intangible income from any source or business income from sources outside North Carolina)

7.Portion of Line 2 above that is attributable to N.C.

SOURCE INCOME

8.Portion of Line 3 above that is attributable to N.C.

SOURCE INCOME

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

D-400, Schedule S

(See Form D-400 instructions)

D-400, Schedule S

(See Form D-400 instructions)

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

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

D-400, Schedule PN,

Line 11, Column B

D-400, Schedule PN, Column B

(See Form D-400 instructions)

D-400, Schedule PN, Column B

(See Form D-400 instructions)

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