Form IT-204-IP "New York Partner's Schedule K-1" - New York

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IT-204-IP
Department of Taxation and Finance
New York Partner’s Schedule K-1
Tax Law – Article 22 (Personal Income Tax)
Final K-1
20
For calendar year 2020 or tax year beginning
and ending
Amended K-1
Partners: Before completing your income tax return, see Form IT-204-IP-I, Partner’s Instructions for Form IT-204-IP (available at www.tax.ny.gov).
Partnership’s information
(see instructions)
Partnership’s name (as shown on Form IT-204)
Partnership’s EIN
A Mark an X in the box if either applies to your entity
Publicly traded partnership
Portfolio investment partnership
B Tax shelter registration number, if any .......................................................................................... B
%
C Business allocation percentage ............................................................................................................................... C
Partner’s information
(see instructions)
Partner’s name
Partner’s identifying number
Partner’s address
City
State
ZIP code
D The partner is a
General partner or LLC member-manager
Limited partner or other LLC member
(mark an X in the appropriate box)
Individual
Estate/trust
Partnership
E What is the tax filing status of the partner?
(Mark an X in the appropriate box, if known.)
F
If the partner is a disregarded entity or grantor trust,
enter the tax ID of the entity or individual reporting the income, if known ................................ F
G Did the partner sell its entire interest during the tax year? ................................................................................ G Yes
No
Beginning
Ending
H Partner’s share of profit, loss, and capital
%
%
1) Profit .............................................................................................................................. H1
%
%
2) Loss................................................................................................................................ H2
%
%
3) Capital ........................................................................................................................... H3
I
Partner’s share of liabilities at the end of the year
1) Nonrecourse ............................................................................................................................. I1
2) Qualified nonrecourse financing................................................................................................ I2
3) Recourse .................................................................................................................................. I3
J
Partner’s capital account analysis
1) Beginning capital account ........................................................................................................ J1
2) Capital contributed during the year – cash .............................................................................. J2
3) Capital contributed during the year – property ......................................................................... J3
4) Current year increase (decrease) ............................................................................................ J4
5) Withdrawals and distributions – cash ....................................................................................... J5
6) Withdrawals and distributions – property ................................................................................. J6
7) Ending capital account ............................................................................................................. J7
8) Method of accounting
(mark an X in the appropriate box)
Tax basis
GAAP
Book
Other
(submit explanation)
K Resident status
(mark an X in all boxes that apply; see instructions)
NYS full-year resident
Yonkers full-year resident
NYC full-year resident
NYS part-year resident
Yonkers part-year resident
NYC part-year resident
NYS nonresident
Yonkers nonresident
L
If the partner was included in a group return, enter the special NYS identification number, if known ..... L
118001200094
IT-204-IP
Department of Taxation and Finance
New York Partner’s Schedule K-1
Tax Law – Article 22 (Personal Income Tax)
Final K-1
20
For calendar year 2020 or tax year beginning
and ending
Amended K-1
Partners: Before completing your income tax return, see Form IT-204-IP-I, Partner’s Instructions for Form IT-204-IP (available at www.tax.ny.gov).
Partnership’s information
(see instructions)
Partnership’s name (as shown on Form IT-204)
Partnership’s EIN
A Mark an X in the box if either applies to your entity
Publicly traded partnership
Portfolio investment partnership
B Tax shelter registration number, if any .......................................................................................... B
%
C Business allocation percentage ............................................................................................................................... C
Partner’s information
(see instructions)
Partner’s name
Partner’s identifying number
Partner’s address
City
State
ZIP code
D The partner is a
General partner or LLC member-manager
Limited partner or other LLC member
(mark an X in the appropriate box)
Individual
Estate/trust
Partnership
E What is the tax filing status of the partner?
(Mark an X in the appropriate box, if known.)
F
If the partner is a disregarded entity or grantor trust,
enter the tax ID of the entity or individual reporting the income, if known ................................ F
G Did the partner sell its entire interest during the tax year? ................................................................................ G Yes
No
Beginning
Ending
H Partner’s share of profit, loss, and capital
%
%
1) Profit .............................................................................................................................. H1
%
%
2) Loss................................................................................................................................ H2
%
%
3) Capital ........................................................................................................................... H3
I
Partner’s share of liabilities at the end of the year
1) Nonrecourse ............................................................................................................................. I1
2) Qualified nonrecourse financing................................................................................................ I2
3) Recourse .................................................................................................................................. I3
J
Partner’s capital account analysis
1) Beginning capital account ........................................................................................................ J1
2) Capital contributed during the year – cash .............................................................................. J2
3) Capital contributed during the year – property ......................................................................... J3
4) Current year increase (decrease) ............................................................................................ J4
5) Withdrawals and distributions – cash ....................................................................................... J5
6) Withdrawals and distributions – property ................................................................................. J6
7) Ending capital account ............................................................................................................. J7
8) Method of accounting
(mark an X in the appropriate box)
Tax basis
GAAP
Book
Other
(submit explanation)
K Resident status
(mark an X in all boxes that apply; see instructions)
NYS full-year resident
Yonkers full-year resident
NYC full-year resident
NYS part-year resident
Yonkers part-year resident
NYC part-year resident
NYS nonresident
Yonkers nonresident
L
If the partner was included in a group return, enter the special NYS identification number, if known ..... L
118001200094
Page 2 of 5 IT-204-IP (2020)
M Was Form IT-2658-E filed with the partnership? ............................................................................................ M
Yes
No
N NYS estimated tax paid on behalf of partner
Date
Amount
(from Form IT-2658-NYS)
1) First installment ............................................................................. N1
2) Second installment ......................................................................... N2
3) Third installment ............................................................................ N3
4) Fourth installment........................................................................... N4
....................................... N
Total NYS estimated tax paid on behalf of partner
(add lines N1 through N4)
O Estimated MCTMT paid on behalf of partner
Date
Amount
(from Form IT-2658-MTA)
1) First installment ............................................................................. O1
2) Second installment ......................................................................... O2
3) Third installment ............................................................................ O3
4) Fourth installment........................................................................... O4
....................................... O
Total estimated MCTMT paid on behalf of partner
(add lines O1 through O4)
P Was the partnership required to report any nonqualified deferred compensation, as required
by IRC § 457A, on its 2020 federal return?
................................................................ P
Yes
No
(see instructions)
Partner’s share of income, deductions, etc.
A – Partner’s distributive share items
B – Federal K-1 amount
C – New York State amount
1 Ordinary business income (loss) ........................................
1
1
2 Net rental real estate income (loss) ..................................
2
2
3 Other net rental income (loss) ............................................
3
3
4 Guaranteed payments........................................................
4
4
5 Interest income...................................................................
5
5
6 Ordinary dividends ............................................................
6
6
7 Royalties ............................................................................
7
7
8 Net short-term capital gain (loss) ......................................
8
8
9 Net long-term capital gain (loss) ........................................
9
9
10 Net section 1231 gain (loss) ..............................................
10
10
11 Other income (loss)
11
11
Identify:
12 Section 179 deduction .......................................................
12
12
13 Other deductions
13
13
Identify:
14 This line intentionally left blank .........................................
14
14
15 Net earnings (loss) from self-employment .........................
15
15
16 Tax-exempt income and nondeductible expenses ............
16
16
17 Distributions – cash and marketable securities ..................
17
17
18 Distributions – other property ............................................
18
18
19 Other items not included above that are required to be
reported separately to partners .....................................
19
19
Identify:
Partner’s share of New York modifications
(see instructions)
20 New York State additions
Number
A – Total amount
B – New York State allocated amount
20a
E A –
20b
E A –
20c
E A –
20d
E A –
20e
E A –
20 f
E A –
21 Total addition modifications
.............................................. 21
(total of column A, lines 20a through 20f)
118002200094
IT-204-IP (2020) Page 3 of 5
Partner’s share of New York modifications
(continued)
22 New York State subtractions
Number
A – Total amount
B – New York State allocated amount
22a
E S –
22b
E S –
22c
E S –
22d
E S –
22e
E S –
22 f
E S –
23 Total subtraction modifications
......................................... 23
(total of column A, lines 22a through 22f)
24 Additions to itemized deductions
Letter
Amount
24a
24b
24c
24d
24e
24 f
25 Total additions to itemized deductions
................................................. 25
(add lines 24a through 24f)
26 Subtractions from itemized deductions
Letter
Amount
26a
26b
26c
26d
26e
26 f
27 Total subtractions from itemized deductions
....................................... 27
(add lines 26a through 26f)
28 This line intentionally left blank .................................................................................................. 28
Partner’s other information
29a Partner’s share of New York source gross income .................................................................. 29a
29b MCTD allocation percentage
.......................................................................... 29b
%
(see instructions)
29c Partner’s share of receipts from the sale of goods by manufacturing ..................................... 29c
29d Partner’s share of New York adjusted basis of qualified manufacturing property .................... 29d
Partner’s credit information
Part 1 – Flow-through credit bases and information
Brownfield redevelopment tax credit
(Form IT-611, IT-611.1, or IT-611.2)
A – Form IT-611
B – Form IT-611.1
C – Form IT-611.2
30 Site preparation credit component .......................... 30
31 Tangible property credit component ........................ 31
32 On-site groundwater remediation credit component .. 32
118003200094
Page 4 of 5 IT-204-IP (2020)
Partner’s credit information
(continued)
33 This line intentionally left blank .................................................................................................... 33
34 This line intentionally left blank .................................................................................................... 34
35 This line intentionally left blank .................................................................................................... 35
QEZE tax reduction credit
(Form IT-604)
36 QEZE employment increase factor ............................................................................................... 36
37 QEZE zone allocation factor ......................................................................................................... 37
38 QEZE benefit period factor............................................................................................................ 38
Excelsior jobs program tax credit
(Form IT-607)
39 Excelsior jobs tax credit component.............................................................................................. 39
40 Excelsior investment tax credit component .................................................................................. 40
41 Excelsior research and development tax credit component.......................................................... 41
42 Excelsior real property tax credit component ............................................................................... 42
Farmers’ school tax credit
(Form IT-217)
43 Acres of qualified agricultural property .......................................................................................... 43
44 Acres of qualified conservation property ....................................................................................... 44
45 Eligible school district property taxes paid ................................................................................... 45
46 Acres of qualified agricultural property converted to nonqualified use .......................................... 46
Other flow-through credit bases and information
Credit bases
Code
Amount
Code
Amount
47a
47d
47b
47e
47c
47 f
Credit information
Code
Information
Code
Information
47g
47j
47h
47k
47 i
47l
Part 2 – Flow-through credits, addbacks, and recaptures
48 Long-term care insurance credit
.............................................................................. 48
(Form IT-249)
49 Investment credit
... 49
(including employment incentive credit and historic barn rehabilitation credit; Form IT-212)
50 Research and development – investment credit
..................................................... 50
(Form IT-212)
51 Other flow-through credits
Code
Amount
Code
Amount
51a
51e
51b
51 f
51g
51c
51d
51h
52 Addbacks of credits and recaptures
Code
Amount
Code
Amount
52a
52d
52b
52e
52c
52 f
118004200094
IT-204-IP (2020) Page 5 of 5
Partner’s credit information
(continued)
Part 3 – START-UP NY tax elimination credit information
(Form IT-638)
53 START-UP NY business certificate number
............................................................ 53
(Form DTF-74)
54 Year of START-UP NY business tax benefit period ...................................................................... 54
55 START-UP NY area allocation factor ........................................................................................... 55
Partner’s share of New York adjustments due to decoupling from the IRC
(see instructions)
A – Total amount
B – New York State allocated amount
1 Total of New York additions .....................................................
1
2 Total of New York subtractions ................................................
2
118005200094
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