2005 1065 K-1 instructions

From TaxAlmanac

General Information

K-1 Issues for Individual Taxpayers, General

Disposition of K-1 Activity

Basis Rules

At-Risk Limitations

Passive Activity Limitations

Publicly traded partnerships

Income (Loss)

Box 1. Ordinary Business Income (Loss)

Box 2. Net Rental Real Estate Income (Loss)

Box 3. Other Net Rental Income (Loss)

Box 4. Guaranteed Payments

Box 5. Interest Income

Box 6a. Ordinary Dividend

Box 6b. Qualified Dividends

Box 7. Royalties

Box 8. Net Short-Term Capital Gain (Loss)

Box 9a. Net Long-Term Capital Gain (Loss)

Box 9b. Collectibles (28%) Gain (Loss)

Box 9c. Unrecaptured Section 1250 Gain

Box 10. Net Section 1231 Gain (Loss)

Box 11 Other Income (Loss)

Code A. Other portfolio income (loss)

Code B. Involuntary conversions

Code C. Section 1256 contracts & straddles

Code D. Mining exploration costs recapture

Code E. Cancellation of debt

Code F. Other income (loss)

Box 12 Section 179 Deduction

Section 179 Deduction

Box 13 Other Deductions

2005 Schedule K-1(Form 1065) - Line 13 - Other Deductions - Code Definition

Box 14 Self-Employment Earnings (Loss)

Code A Net earnings (loss) from self-employment

Code B Gross farming or fishing income.

Box 15 Credits & Credit Recapture

Code A and B Low-income housing credit

Code C and D Qualified rehabilitation expenditures

Code E Basis of energy property

Code F Other rental real estate credits

Code G Other rental credits

Code H Undistributed capital gains credit

Code I Credit for alcohol used as fuel

Code J Work opportunity credit

Code K Welfare-to-work credit

Code L Disabled access credit

Code M Empowerment zone and renewal community employment credit

Code N Credit for increasing research activities

Code O New markets credit

Code P Credit for employer social security and Medicare taxes

Code Q Backup withholding

Code R and S Recapture of low-income housing credit

Code T Recapture of investment credit

Code U Other credits

Box 16 Foreign Transactions

Codes A thru N Foreign Transactions

Codes O and P Extraterritorial income exclusion

Code Q Other foreign transactions

Box 17 Alternative Minimum Tax (AMT) Items

Code A post-1986 depreciation adjustment

Code B adjusted gain or loss

Code C depletion adjustment

Code D and E Oil, gas, & geothermal properties—gross income and deductions

Code F Other AMT items

Box 18 Tax-Exempt Income and Nondeductible Expenses

Code A Tax-exempt interest income

Code B Other tax-exempt income

Code C Nondeductible expenses

Box 19 Distributions

Code A Cash and marketable securities

Code B Other property

Box 20 Other Information

Code A Investment income

Code B Investment expenses

Code C Fuel tax credit information

Code D Look-back interest—completed long-term contracts

Code E Look-back interest—income forecast method

Code F Dispositions of property with section 179 deductions

Code G Recapture of section 179 deduction

Code H Special basis adjustment

Code I Section 453(l)(3) information

Code J Section 453A(c) information

Code K Section 1260(b) information

Code L Interest allocable to production expenditures

Code M CCF nonqualified withdrawals

Code N Information needed to figure depletion—oil and gas

Code O Amortization of reforestation costs

Code P Unrelated business taxable income

Code Q Other information