Form PA-41 Schedule RK-1 "Resident Schedule of Shareholder/Partner/Beneficiary Pass Through Income, Loss and Credits" - Pennsylvania

What Is Form PA-41 Schedule RK-1?

This is a legal form that was released by the Pennsylvania Department of Revenue - a government authority operating within Pennsylvania.The document is a supplement to Form PA-41, Pa Fiduciary Income Tax Return. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on June 1, 2019;
  • The latest edition provided by the Pennsylvania Department of Revenue;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form PA-41 Schedule RK-1 by clicking the link below or browse more documents and templates provided by the Pennsylvania Department of Revenue.

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PA SCHEDULE RK- 1
2004510059
Resident Schedule of Shareholder/
Partner/Beneficiary Pass Through
Income, Loss and Credits
PA-41 RK-1 05-20
(FI)
2020
PA Department of Revenue
Last Name
Suffix First Name
M I
START
SSN
Spouse’s SSN
Phone Number
If jointly held
Name of Owner Receiving RK-1 (if other than an individual)
FEIN
First Line of Address
Amended Schedule
Final
Owner:
Shareholder’s stock ownership: ________%
Individual
Second Line of Address
Beneficiary’s year-end distribution: ________%
PA S Corp.
Partner’s percentage of:
All Other Corp.
City or Post Office
State
ZIP Code
Profit sharing: ________%
Estate/Trust
Loss sharing: ________%
Partnership
Ownership of capital: ________%
LLC
Exempt
Name of Entity Issuing RK-1
Partner:
General Partner
City or Post Office
State
ZIP Code
Entity: (Fill in one oval only)
or LLC Member
- Manager
Estate/Trust
Partnership
FEIN
Revenue ID
Limited Partner
PA S Corp
LLC
or Other LLC
Fiscal Year
Short Year
Member
MM/DD/YY
MM/DD/YY
Begin
End
Enter whole dollars only
NOTE: Amounts from this schedule must be reported on the appropriate PA Tax Return.
1
If a loss, fill in the oval.
PA-Taxable Business Income (Loss) from Operations . . . . . . . . . . .
1
2
Interest Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3
Dividend Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
4
Net Gain (Loss) from the Sale, Exchange or Disposition of Property . . . . . .
4
If a loss, fill in the oval.
5
Net Income (Loss) from Rents, Royalties, Patents and Copyrights . . . . . . . .
5
If a loss, fill in the oval.
6
Income of/from Estates or Trusts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
7
Gambling and Lottery Winnings (Loss)
If a loss, fill in the oval.
7
8 Resident Credit. Submit statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
9 Total Other Credits. Submit statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
10 Distributions of Cash, Marketable Securities, and Property - not including guaranteed payments . . .
10
11 Guaranteed Payments for Capital or Other Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
12
12 All Other Guaranteed Payments for Services Rendered . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13 Guaranteed Payments to the Retired Partner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13
14
14 Distributions from PA Accumulated Adjustments Account . . . .
If liquidating, fill in the oval.
15 Distributions of Cash, Marketable Securities, and Property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15
16
If a loss, fill in the oval.
16 Nontaxable income (loss) or nondeductible expenses required to . . . .
calculate owner’s basis. Submit statement.
17 Owner’s Share of IRC Section 179 allowed according to PA rules . . . . . . . . . . . . . . . . . . . . . . . . . . .
17
18 Owner’s Share of Straight-Line Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18
19 Partner’s Share of Nonrecourse Liabilities at year-end . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19
20 Partner’s Share of Recourse Liabilities at year-end . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20
2004510059
2004510059
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PA SCHEDULE RK- 1
2004510059
Resident Schedule of Shareholder/
Partner/Beneficiary Pass Through
Income, Loss and Credits
PA-41 RK-1 05-20
(FI)
2020
PA Department of Revenue
Last Name
Suffix First Name
M I
START
SSN
Spouse’s SSN
Phone Number
If jointly held
Name of Owner Receiving RK-1 (if other than an individual)
FEIN
First Line of Address
Amended Schedule
Final
Owner:
Shareholder’s stock ownership: ________%
Individual
Second Line of Address
Beneficiary’s year-end distribution: ________%
PA S Corp.
Partner’s percentage of:
All Other Corp.
City or Post Office
State
ZIP Code
Profit sharing: ________%
Estate/Trust
Loss sharing: ________%
Partnership
Ownership of capital: ________%
LLC
Exempt
Name of Entity Issuing RK-1
Partner:
General Partner
City or Post Office
State
ZIP Code
Entity: (Fill in one oval only)
or LLC Member
- Manager
Estate/Trust
Partnership
FEIN
Revenue ID
Limited Partner
PA S Corp
LLC
or Other LLC
Fiscal Year
Short Year
Member
MM/DD/YY
MM/DD/YY
Begin
End
Enter whole dollars only
NOTE: Amounts from this schedule must be reported on the appropriate PA Tax Return.
1
If a loss, fill in the oval.
PA-Taxable Business Income (Loss) from Operations . . . . . . . . . . .
1
2
Interest Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3
Dividend Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
4
Net Gain (Loss) from the Sale, Exchange or Disposition of Property . . . . . .
4
If a loss, fill in the oval.
5
Net Income (Loss) from Rents, Royalties, Patents and Copyrights . . . . . . . .
5
If a loss, fill in the oval.
6
Income of/from Estates or Trusts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
7
Gambling and Lottery Winnings (Loss)
If a loss, fill in the oval.
7
8 Resident Credit. Submit statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
9 Total Other Credits. Submit statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
10 Distributions of Cash, Marketable Securities, and Property - not including guaranteed payments . . .
10
11 Guaranteed Payments for Capital or Other Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
12
12 All Other Guaranteed Payments for Services Rendered . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13 Guaranteed Payments to the Retired Partner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13
14
14 Distributions from PA Accumulated Adjustments Account . . . .
If liquidating, fill in the oval.
15 Distributions of Cash, Marketable Securities, and Property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15
16
If a loss, fill in the oval.
16 Nontaxable income (loss) or nondeductible expenses required to . . . .
calculate owner’s basis. Submit statement.
17 Owner’s Share of IRC Section 179 allowed according to PA rules . . . . . . . . . . . . . . . . . . . . . . . . . . .
17
18 Owner’s Share of Straight-Line Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18
19 Partner’s Share of Nonrecourse Liabilities at year-end . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19
20 Partner’s Share of Recourse Liabilities at year-end . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20
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2020
Instructions for PA-41 Schedule RK-1
Resident Schedule of Shareholder/Partner/Beneficiary
Pass Through Income, Loss and Credits
PA-41 RK-1 IN 05-20
not properly reflect the classified Pennsylvania-taxable
GENERAL INFORMATION
income amounts.
PURPOSE OF SCHEDULE
PA-41 Schedules RK-1 submitted to resident and entity
Estates and trusts use PA-41 Schedule RK-1 to report
beneficiaries should reflect the taxable income to
income of estates and trusts to each resident beneficiary. A
Pennsylvania residents even if the estate or trust is a
PA-41 Schedule RK-1 is also used to report the income of
nonresident.
the estate or trust for each beneficiary that is a nonresident
PA-41 Schedules NRK-1 issued to nonresident entity
estate or trust and each nonresident partnership, PA S
beneficiaries should reflect just the Pennsylvania-source
corporation or entity formed as a limited liability company
income taxable to those beneficiaries. Additionally, PA-41
classified as a partnership or PA S corporation for federal
Schedules NRK-1 issued to nonresident estates or trusts
income tax purposes.
should also reflect PA tax withheld for nonresident
Resident estate and trust beneficiaries are subject to tax on
beneficiaries. See the instructions for PA-41 Schedule NRK-1.
their shares of the estate or trust’s distributed or distributable
HOW TO AMEND PA-41 SCHEDULE RK-1
income, regardless of income source. Nonresident estate
Where an amendment to the PA-41, Fiduciary Income Tax
and trust beneficiaries are only subject to Pennsylvania
Return, results in a need to amend the PA-41 Schedule RK-
personal income tax on their shares of the estate or trust’s
1, an amended PA-41 Schedule RK-1 must be forwarded to
distributed or distributable Pennsylvania-source income.
the PA Department of Revenue with the amended tax return,
RESIDENT BENEFICIARY RESIDENCY STATUS
and a copy must be provided to each beneficiary.
The fiduciary of an estate or trust must determine (through
An amended PA-41, Fiduciary Income Tax Return, and an
reasonable means) the residency status of each individual
amended PA-41 Schedule RK-1 for each beneficiary must
and/or estate or trust beneficiary. A fiduciary of an estate or
also be filed to correct any error on or reflect any change to
trust that fails to keep an accurate list of beneficiaries may
the original PA-41, Fiduciary Income Tax Return, whether or
be subject to the tax, penalty and interest of any beneficiary
not an amended federal Form 1041 was filed for that year.
who was provided a PA-41 Schedule NRK-1 when a PA-41
To amend an original PA-41 Schedule RK-1, use a blank
Schedule RK-1 should have been provided.
schedule for the tax year to be amended and fill in the
WHO SHOULD RECEIVE A PA-41 SCHEDULE RK-1
“Amended Schedule” oval at the top of the schedule. Do not
A PA-41 Schedule RK-1 must be prepared and provided to
send a copy of the original schedule. Complete the schedule
every Pennsylvania resident beneficiary who is an
by entering the corrected information and submit it with the
individual. A copy of the PA-41 Schedule RK-1 for each
amended PA-41, Fiduciary Income Tax Return. See “Where
resident beneficiary who is an individual must accompany
To File” in the PA-41 instructions.
the estate or trust’s PA-41, Fiduciary Income Tax Return.
COMPLETING PA-41 SCHEDULE RK-1
The estate or trust must prepare and provide both PA-41
Schedules RK-1 and NRK-1 to any beneficiary that was a/an:
FOREIGN ADDRESS INSTRUCTIONS
• Individual who was a part-year Pennsylvania resident;
(OTHER THAN CANADA)
• Estate or trust;
If the estate or trust is located outside the U.S., it is important
• PA S corporation;
to write the foreign address on the PA-41 Schedule RK-1
according to U.S. Postal Service standards.
• Partnership; or
• Entity formed as a limited liability company classified as
Failure to use these standards may delay any refunds
a partnership or PA S corporation for federal income tax
requested or correspondence necessary to complete the
purposes.
processing of the return.
Both schedules for each such beneficiary must also be
To comply with foreign address standards, use the following
submitted with the PA-41, Fiduciary Income Tax Return.
rules when completing the address portion of the PA-41
Schedule RK-1.
IMPORTANT: The department does not accept federal
• Eliminate apostrophes, commas, periods and hyphens.
Form 1041 Schedule K-1 because the schedule does
www.revenue.pa.gov
PA-41 RK-1
1
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• Use all capital letters to write all lines.
SPOUSE’S SSN
• Write the name of the estate or trust in the space
Enter the nine-digit SSN of the spouse of the beneficiary (if
provided.
jointly held) receiving the PA-41 Schedule RK-1.
• Write the name and title of the fiduciary in the space
FEIN
provided.
Enter the nine-digit federal employer identification number
• Write the address in the space provided, including street
(FEIN) of the entity beneficiary receiving the PA-41
and building name and number, apartment or suite
Schedule RK-1.
numbers, city name and city or provincial codes.
NAME OF OWNER RECEIVING
• Write only the name of the country in the space provided
RK-1 (OTHER THAN AN INDIVIDUAL)
for the city or post office.
• Write OC in the entry space for state to indicate out-of-
If the beneficiary of the estate or trust is an estate, trust a
country.
partnership, PA S corporation or entity formed as a limited
liability company classified as a partnership or PA S
• Leave the ZIP code spaces on the PA-41 Schedule RK-
corporation for federal income tax purposes, enter the FEIN
1 blank.
and name of the entity receiving the PA-41 Schedule RK-1.
Providing the address in this format will better ensure that
If the PA Schedule RK-1 is being issued to an individual
the department is able to send a refund on a timely basis or
beneficiary, leave this field blank.
contact the estate or trust if additional information is
required.
FIRST LINE OF ADDRESS
Enter the street address of the individual or entity beneficiary
Below is an example of a properly completed foreign
receiving the PA-41 Schedule RK-1. If the address has an
address.
apartment number, suite or RR number, enter it after the
Foreign Address Example.
street address. Eliminate all punctuation such as
DIETRIC-FISCHER INGE TRUST
apostrophes, commas, periods and hyphens.
PATRIK FISCHER TTEE
WEIMARER STR 7 5300 BONN 1
The U.S. Postal Service preference is to put the actual
GERMANY OC
delivery address on the line immediately above the city, state
and ZIP Code.
CANADA ONLY FOREIGN ADDRESS INSTRUCTIONS
The same rules apply as for other foreign address
NOTE: If the street address along with the apartment
instructions. However, when the Canada address contains
number, suite or RR number does not fit on the first
a postal zone and two-character abbreviation for provinces
line of address, then enter the street address on the second
and territories, there are special spacing rules for the
line of address and the apartment number, suite or RR
address line for the PA-41 Schedule RK-1. On mail to
number on the first line of address.
Canada, there must be two spaces between the province
SECOND LINE OF ADDRESS
abbreviation and the postal code. Below is an example of a
Enter the post office box, if appropriate, of the individual or
properly completed Canada foreign address.
entity beneficiary receiving the PA-41 Schedule RK-1. If
SAUNDERS HELEN ESTATE OF
there is no post office box, leave the second line of the
JANET SAUNDERS EXECUTRIX
address blank. Eliminate all punctuation such as
9 BOW ST OTTAWA ON K1A 0B1 CANADA OC
apostrophes, commas, periods and hyphens.
If the estate or trust’s address does not fit in the available
For a foreign address, enter the city or municipal
spaces on the PA-41 Schedule RK-1 using the above
designation. See the Foreign Address Example.
formats, please include a separate statement with the return
showing the complete address.
For a Canadian address, enter the city and postal delivery
zone number. See the Canada Address Example.
SECTION I
IMPORTANT: If the address has only a post office box,
enter on the first line of address.
GENERAL INFORMATION
CITY, STATE AND ZIP CODE
SSN
Enter the appropriate information of the individual or entity
Enter the nine-digit Social Security number (SSN) if the
beneficiary receiving the PA-41 Schedule RK-1 in each box.
beneficiary of the estate or trust is an individual receiving
Eliminate all punctuation such as apostrophes, commas,
the PA-41 Schedule RK-1.
periods and hyphens.
LAST NAME, SUFFIX, FIRST NAME, MIDDLE INITIAL
NAME OF ENTITY ISSUING RK-1
Enter the last name; suffix such as Jr., Sr., etc; first name
Enter the name of the estate or trust issuing the PA-41
and middle initial of the individual beneficiary who is
receiving the PA-41 Schedule RK-1.
Schedule RK-1.
2
PA-41 RK-1
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• An estate or trust is in existence during only part of the
CITY, STATE AND ZIP CODE
tax year. For example, the trust or estate is in its initial
Enter the appropriate information of the estate or trust
or final year.
issuing the PA-41 Schedule RK-1 in each box. Eliminate
all punctuation such as apostrophes, commas, periods
See “How to File a Short-Year Return” in the PA-41,
and hyphens.
Fiduciary Income Tax Return instructions.
FEIN
LINE INSTRUCTIONS
Enter the nine-digit FEIN of the estate or trust issuing the
PA-41 Schedule RK-1.
SECTION II
REVENUE ID
SHAREHOLDER/PARTNER/BENEFICIARY
This field is not applicable for estates and trusts.
DISTRIBUTIVE SHARE OF PENNSYLVANIA-
SOURCE INCOME (LOSS)
AMENDED SCHEDULE
If the estate or trust is filing an amended PA-41, Fiduciary Tax
LINES 1 THROUGH 5
Return, and the amount of income distributed to a resident
beneficiary changes, fill in the amended schedule oval.
Do not enter any amounts on Lines 1 through 5.
FINAL
Do not report the income of beneficiaries of estates
If this is the final year of distributions to the beneficiary from
and trusts on any lines of PA-41 Schedule RK-1
the estate or trust, fill in the final oval.
except Line 6.
BENEFICIARY’S YEAR-END DISTRIBUTION
LINE 6
Enter the beneficiary’s percentage of year-end distributions
from the estate or trust for the ratio of the beneficiary’s
To calculate the beneficiary’s income of/from estates or
taxable distribution as reported on PA-41 Schedule RK-1,
trusts (Line 6) for entry on a PA-41 Schedule RK-1, use the
Line 6 to the total distribution as reported on PA-41,
following formula:
Fiduciary Income Tax Return, Line 8.
A x B = Beneficiary Income Reported on Schedule RK-1
If a beneficiary who is an individual and part-year resident
Line 6
or an entity beneficiary, calculate and enter the percentage
Where:
as if a resident taxpayer.
A = Total distributed or distributable income which is the
Valid values for input on this line include the values of
lesser of Line 3a or Line 14a of PA-41 Schedule DD.
“00000” to “10000”. The decimal point is implied after the
B = Beneficiary’s year-end distribution percentage. The
third character from the left. For example:
beneficiary’s year-end distribution percentage is
• To indicate 100%, enter the value as “10000”;
obtained by taking the actual cash or property
distributions made to the beneficiary and any amounts
• To indicate 33.33%, enter the value as “03333”; or
credited or payable or required to be currently
• To indicate 25%, enter the value as “02500”.
distributed to the beneficiary and dividing that sum by
OWNER
the amount on Line 13a of PA-41 Schedule DD.
Fill in the oval that designates what type of beneficiary
CAUTION: When calculating beneficiary’s year-end
received the PA-41 RK-1. Fill in one oval only.
distribution percentage, do not take into account:
ENTITY
• Amounts properly paid out of corpus as a gift or bequest
Fill in the estate or trust oval only.
of a specific amount of money;
• Amounts required to have been distributed in any prior
FISCAL YEAR
taxable year; or
If the estate or trust does not file on a calendar-year basis,
• The market value of property distributed in kind as a gift
fill in the oval.
or bequest of the specific property.
Enter month, day and year (MMDDYY) when the fiscal year
begins and ends.
LINE 7
SHORT YEAR
Do not enter any amount on Line 7.
A short year is an accounting period shorter than one year
(and not a 52-53 week taxable year).
SECTION III
A short-year return is required for the following reasons:
• Changes in the annual accounting period. For example,
LINE 8
the estate or trust changes from a fiscal to a calendar
filer; or
Do not enter any amount on Line 8.
www.revenue.pa.gov
PA-41 RK-1
3
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