Form CT K-1 Fillable 2014 Member's Share of Certain Connecticut Items
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Final Schedule CT K 1 (Lines 20a through 20g) Also enter the PE s FEIN and the (Rev 12/14) Member s Share of Certain Connecticut Items 00 00 00 00 004 00 005 00 006a 00 006b 00 1 Income tax liability: PE should enter member s amount from Form 1 Interest on state and local obligations other than Connecticut 1 00 1 Member s Connecticut income tax liability as reported by the PE for the member on 1 Ordinary business income (loss) 1 Qualified small business tax credit 10 00 10 Net section 1231 gain (loss) 10 Other specify 10 00 11 00 11 Other income (loss): Attach statement 12 00 12 Section 179 deduction 13 00 13 Other deductions: Attach statement 2 Job expansion tax credit 2 Mutual fund exempt interest dividends from non Connecticut state or municipal 2 Net rental real estate income (loss) 2 Qualified small business tax credit: Enter in Column C the lesser 2010 Legislative Changes Affecting the Income Tax; Special Notice 2012(6) 2012 Legislative Changes Affecting the Income Tax; and 2014 credit amount 3 Angel investor tax credit 3 Balance of income tax liability: Subtract Line 2 Column C from 3 Certain deductions relating to income exempt from Connecticut income tax 3 00 3 Other net rental income (loss) 4 Guaranteed payments 4 Insurance reinvestment fund tax credit 4 Job expansion tax credit: Enter in Column C 4 Reserved for future use 4 5 00 00 5 Balance of income tax liability: Subtract Line 4 Column C from 5 Interest income 5 Other specify 5 00 5 Total credits: Add Lines 1 through 4 6 Angel investor tax credit: Enter in Column C the lesser of 6 Interest on U S government obligations 6 00 6a Ordinary dividends 6b Qualifi ed dividends 7 Balance of income tax liability: Subtract Line 6 Column C from 7 Exempt dividends from certain qualifying mutual funds derived from U S government obligations 7 00 7 Royalties 8 Certain expenses related to income exempt from federal income tax but subject to Connecticut tax 8 00 8 Insurance reinvestment fund tax credit: Enter in Column C the 8 Net short term capital gain (loss) 9 Reserved for future use 9 9a 00 9a Net long term capital gain (loss) 9b 00 9b Collectibles 28% gain (loss) 9c 00 9c Unrecaptured section 1250 gain A pass through entity (PE) must furnish Schedule CT K 1 A PE must complete Part I for resident noncorporate members A PE must furnish Schedule CT K 1 on or before the fi fteenth day Additions Enter all amounts as positive numbers Amended Schedule CT K 1 Amount of credit and Estates Schedule A Lines 1 through 5 Enter amounts from and Part II Column D applied first applied to 2014 are pass through entities Part IV Column A should be completed before completing this column This column should be completed beneficiaries (the trust is claiming the entire amount of credit(s) beneficiaries use the amount reported to complete the worksheet by the PE for that member from Form CT 1065/CT 1120SI Part I calendar year) If the PE requested an extension of time to file Check the box if this is an amended or a final Schedule CT K 1 City or town State ZIP code Column A Column A is used to calculate the amount of the credit allowed on Column A on the parent PE s Form CT 1065/CT 1120SI Part VII Column A: Enter the 2014 income tax liability for the member from Column A: Transfer the amount attributable to each member from Column A: Transfer the member s allocable gross amount of each Column B Column B: Complete the Income Tax Credit Worksheet on Page 2 Column B: Enter the amount of angel investor tax credit earned Column B: Enter the amount of insurance reinvestment fund tax Column B: Enter the amount of job expansion tax credit earned Column B: Enter the amount of qualified small business job creation Column B: Transfer the Connecticut sourced amounts attributable Column C Column C where applicable and Part II Column D Column C: Enter the amount applied to the member s 2014 income Column C: Enter the amount applied to the member s 2014 income Complete in blue or black ink only complete Schedule CT IT Credit Part I Column C where applicable Complete the member information section including the member s Complete the return in blue or black ink only Completed for Connecticut sourced income Check the box to indicate that the Connecticut sources is from one or more PEs and each PE Connecticut sources is from one or more PEs but at least one Connecticut sources other than from one or more PEs the copies of Schedule CT K 1 with DRS However Schedule CT K 1 Credit allowed on behalf credit earned from Part IV Column A credit has not expired However the composite income tax return Credit Part II CT 1040NR/PY CT 1040NR/PY if the sum of the member s income from all PEs CT 1040NR/PY Lines 42 through 51 CT 1040NR/PY on one of the lines for income tax withheld CT 1041 Line 10 You are required to attach Schedule CT K 1 to CT 1065/CT 1120SI Part I Schedule B Column D CT 1120SI Part I Schedule B Column E for each member CT 1120SI Part I Schedule D Column C CT 1120SI Part V Lines 1 through 10 CT 1120SI Part VI Lines 1 through 13 CT K 1 Part IV Column A between the trust and the trust CT K 1 Part IV Column A to complete Schedule CT IT Credit Part I CT K 1 to complete Schedule CT IT Credit Part II CT Tax Registration Number Department of Revenue Services Do not attach Schedule CT K 1 to your Connecticut income tax earned (enter amounts electronically and the associated tax payments must be remitted electronically You are not required to file Form CT K 1T and paper enter 0 Enter amounts from Schedule CT K 1 Part I Lines 1 through 5 Enter amounts from Schedule CT K 1 Part I Lines 1 through 5 Enter amounts from Schedule CT K 1 Part II Lines 1 through 13 Enter the amount from Schedule CT K 1 Part III Line 1 on Form expansion tax credit which have no carryforward provision are Federal Employer ID Number (FEIN) Federal Form 1065 Schedule K 1 Lines 1 through 13 or Federal Federal Schedule K 1 of Form 1065 or 1120S Federal Schedule K 1 of Form 1065 or 1120S From Federal Schedule K 1 From Form CT 1065/CT 1120SI Part VI following the close of the taxable year (September 15 if the PE s for all members if applicable For calendar year 2014 or other taxable year beginning 2014 and ending 20 for Extension of Time to File Connecticut Composite Income Tax for nonresident noncorporate members and PE members only for Schedule CT IT Credit found in the Form CT 1041 Connecticut For taxable year 2014 Form CT 1065/CT 1120SI must be filed Form 1120S Schedule K 1 Lines 1 through 12 Form CT 1041 Form CT 1065/CT 1120SI Form CT 1065/CT 1120SI and Schedule CT K 1 does not compute Form CT 1065/CT 1120SI Connecticut Composite Income Tax Form CT 1065/CT 1120SI Part I Schedule B Column D Form CT 1065/CT 1120SI Part I Schedule B Column F 1 00 from Column C of the Income Tax Credit Worksheet From Form CT 1065/CT 1120SI Part V from Part IV Column A from Part IV Column A) from Schedule CT K 1 Part I Lines 6 through 10 on Form General Instructions for PEs General Instructions for Recipients government obligations 2 00 If a member has income derived from or connected with If a member s only income derived from or connected with If all or a portion of the amounts reported on Schedule CT K 1 If an income tax liability remains after the application of the credits if the PE s taxable year for federal income tax purposes is the If the trust is not allocating the amounts reported on Schedule in the amounts entered on the parent PE s Form CT 1065/ Include the following for each of your members: income derived from or connected with Connecticut sources Income Tax Income Tax Credit Worksheet Income tax credits that may be claimed by the member of the PE are income tax liability income tax return and Schedule CT IT Credit to properly calculate Income Tax Return for Trusts and Estates instructions booklet Individuals Individuals Are Required to File Form CT 1040NR/PY information is from Schedule CT K 1 investor tax credit or insurance reinvestment fund tax credit balance is $1 000 or more If the sum is less than $1 000 the member is $1 000 or more the member is not required to file Form is automatically extended to the fifteenth day of the ninth month is not required to file Form CT 1040NR/PY is required to make a Connecticut income tax payment on the is still required to be issued to the members lesser of Line 8 Column B or Line 7 Column A Line 1 Line 1 Column A If less than zero enter 0 Line 1: Income Tax Liability Line 2: Qualified Small Business Tax Credit Line 3 Column A If less than zero enter 0 Line 3: Balance of Income Tax Liability Line 4: Job Expansion Tax Credit Line 5 Column A If less than zero enter 0 Line 5 Column B: The total credit is transferred to Form CT 1065/ Line 5: Balance of Income Tax Liability Line 6 Column B or Line 5 Column A Line 6: Angel Investor Tax Credit Line 7: Balance of income Tax Liability Line 8: Insurance Reinvestment Fund Tax Credit Lines 1 through 4 member in 2014 (from member is required to file Form CT 1040NR/PY member s behalf because the member s share of each PE s Member s Share of Certain Connecticut Items to all members Member s Social Security Number (SSN) or FEIN members filing Forms CT 1040 CT 1040NR/PY or CT 1041 members only must file Schedule CT IT Credit Income Tax Credit Summary noncorporate members and members that are PEs nonresident noncorporate and PE nonresident noncorporate member may elect to file a Connecticut nonresident noncorporate members and members that are nor report each member s credit carryforward information A Number (FEIN) Check the box to indicate if the number is an SSN Number and street address PO Box of Line 2 Column B or Line 1 Column A of member on composite of that PE s income derived from or connected with Connecticut of the fourth month following the close of the taxable year (April 15 of the PEs is not required to make a Connecticut income tax on Form CT 1040 Connecticut Resident Income Tax Return on Form CT 1040NR/PY Connecticut Nonresident and Part Year on Form CT 1041 Connecticut Income Tax Return for Trusts on the appropriate lines of Form CT 1040NR/PY Schedule CT SI on the appropriate lines of Schedule CT 1041FA Part III Column B or FEIN Page 4 of 4 Part I Connecticut Modifications Part II Part II Connecticut Sourced Portion of Items From Part II Connecticut Sourced Portion of Items From Column A Column B Part III Connecticut Income Tax Information Part III for nonresident noncorporate members and members that Part IV Column A is to be allocated between the trust and the trust Part IV Connecticut Income Tax Credit Summary Part V Lines 1 through 10 Part VII) pass through entities A PE must also complete Part II and Pass through entity (PE) information Member information payment on the member s behalf because the member s share Recipients That Are Nonresident or Part Year Resident Recipients That Are Parent PEs Recipients that are parent PEs must also enter the amount from Recipients That Are Resident Individuals Recipients That Are Trusts or Estates reported in Column A) then use the amounts reported on Schedule reported on Schedule CT K 1 Part IV See Special Notice 2010(3) Resident Income Tax Return Lines 33 through 40 Enter amounts Resident noncorporate members and nonresident noncorporate return return (amounts from Return by timely filing Form CT 1065/CT 1120SI EXT Application Return the deadline for furnishing Schedule CT K 1 to members Schedule 1 Lines 31 through 38 Enter amounts from Schedule 1 Lines 40 through 49 Schedule A Lines 7 through 11 Schedule B Column F Schedule CT K 1 (Rev 12/14) Schedule CT K 1 (Rev 12/14) Page 2 of 4 Schedule CT K 1 (Rev 12/14) Page 3 of 4 Schedule CT K 1 Instructions Schedule CT K 1 Part I Lines 6 through 10 on Form CT 1040 Schedule CT K 1 Part I Lines 6 through 10 on Form CT 1041 Schedule CT K 1 Part III Line 1 on the parent PE s Form CT 1065/ section of Schedule CT K 1 to complete Schedule CT IT Credit Social Security Number (SSN) or Federal Employer Identification sources is less than $1 000 the member is required to file Form Special Notice 2013(7) 2013 Legislative Changes Affecting the Specific Instructions for Income Tax Credit Worksheet Specific Instructions for Schedule CT K 1 State of Connecticut Schedule CT K 1 2014 Subtract Line 2 Column C from Line 1 Column A If less than Subtract Line 4 Column C from Line 3 Column A If less than Subtract Line 6 Column C from Line 5 Column A If less than zero Subtractions Enter all amounts as positive numbers tax credit earned from Part IV Column A Tax credit limitation Tax Credits With Limited Carryforward Provisions Tax Credits Without Carryforward Provisions tax liability Enter the lesser of Line 2 Column B or Line 1 Column A tax liability Enter the lesser of Line 4 Column B or Line 3 Column A tax liability Enter the lesser of Line 6 Column B or Line 5 Column A tax liability Enter the lesser of Line 8 Column B or Line 7 Column A tax liability may be carried forward if the period for claiming the tax taxable year for federal income tax purposes is the calendar year) that remains after applying the tax credit to the current year income the amount of income tax credit carryforward if any The amounts from Schedule CT K 1 Part I Lines 1 through 10 The amounts from Schedule CT K 1 Part II Lines 1 through 13 The amounts from Schedule CT K 1 Part IV Lines 1 through 4 the insurance reinvestment fund tax credit are applied Any angel the lesser of Line 4 Column B or Line 3 Column A The qualified small business job creation tax credit and the job the respective returns and also when completing Schedule CT IT This worksheet should be completed only for nonresident through 13 to each member from Form CT 1065/CT 1120SI Part VI Lines 1 Total credit earned by Transfer entries for that member from Form CT 1065/CT 1120SI Transfer the amount of Connecticut income tax liability reported Transfer the amount(s) of credit allowed on behalf of the member type of income tax credit from Form CT 1065/CT 1120SI Part VII Type of member (check one): Use the amounts from Schedule CT K 1 Part IV Column A to Use the Pass through entity (PE) information on the upper left hand Use the PE information on the upper left hand section of Schedule without a carryforward provision the angel investor tax credit and worksheet below) zero enter 0