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

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PA SCHEDULE RK- 1
1904510052
Resident Schedule of Shareholder/
Partner/Beneficiary Pass Through
Income, Loss and Credits
PA-41 RK-1 06-19
(FI)
2019
PA Department of Revenue
Suffix First Name
Last 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
PA S Corp.
Beneficiary’s year-end distribution: ________%
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
ZIP Code
State
Entity: (Fill in one oval only)
or LLC Member
- Manager
Estate/Trust
Partnership
FEIN
Revenue ID
PA S Corp
LLC
Limited Partner
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 . . . . . . . .
If a loss, fill in the oval.
5
6
Income of/from Estates or Trusts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
Gambling and Lottery Winnings (Loss)
7
7
If a loss, fill in the oval.
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 All Other Guaranteed Payments for Services Rendered . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12
13
13 Guaranteed Payments to the Retired Partner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14
If liquidating, fill in the oval.
14 Distributions from PA Accumulated Adjustments Account . . . .
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
1904510052
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PA SCHEDULE RK- 1
1904510052
Resident Schedule of Shareholder/
Partner/Beneficiary Pass Through
Income, Loss and Credits
PA-41 RK-1 06-19
(FI)
2019
PA Department of Revenue
Suffix First Name
Last 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
PA S Corp.
Beneficiary’s year-end distribution: ________%
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
ZIP Code
State
Entity: (Fill in one oval only)
or LLC Member
- Manager
Estate/Trust
Partnership
FEIN
Revenue ID
PA S Corp
LLC
Limited Partner
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 . . . . . . . .
If a loss, fill in the oval.
5
6
Income of/from Estates or Trusts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
Gambling and Lottery Winnings (Loss)
7
7
If a loss, fill in the oval.
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 All Other Guaranteed Payments for Services Rendered . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12
13
13 Guaranteed Payments to the Retired Partner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14
If liquidating, fill in the oval.
14 Distributions from PA Accumulated Adjustments Account . . . .
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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2019
Pennsylvania Department of Revenue
Instructions for PA-41 Schedule RK-1
Resident Schedule of Shareholder/Partner/Beneficiary
Pass Through Income, Loss and Credits
PA-41 RK-1 IN 06-19
• Partnership; or
WHAT’S NEW
• Entity formed as a limited liability company classified as
a partnership or PA S corporation for federal income tax
Per Act 16 of 2019, Qualified Subchapter S Trusts (QSSTs)
purposes.
that receive Educational Improvement Tax Credits or
Opportunity Scholarship Tax Credits from a pass-through
Both schedules for each such beneficiary must also be
entity may pass through unused Educational Improvement
submitted with the PA-41, Fiduciary Income Tax Return.
Tax Credits and/or Opportunity Scholarship Tax Credits to
IMPORTANT: The department does not accept federal
the beneficiary of the QSST. See the instructions for Line 9
Form 1041 Schedule K-1 because the schedule does
for additional information.
not properly reflect the classified Pennsylvania-taxable
GENERAL INFORMATION
income amounts.
PA-41 Schedules RK-1 submitted to resident and entity
PURPOSE OF SCHEDULE
beneficiaries should reflect the taxable income to
Estates and trusts use PA-41 Schedule RK-1 to report
Pennsylvania residents even if the estate or trust is a
income of estates and trusts to each resident beneficiary. A
nonresident.
PA-41 Schedule RK-1 is also used to report the income of
PA-41 Schedules NRK-1 issued to nonresident entity
the estate or trust for each beneficiary that is a nonresident
beneficiaries should reflect just the Pennsylvania-source
estate or trust and each nonresident partnership, PA S
income taxable to those beneficiaries. Additionally, PA-41
corporation or entity formed as a limited liability company
Schedules NRK-1 issued to nonresident estates or trusts
classified as a partnership or PA S corporation for federal
should also reflect PA tax withheld for nonresident
income tax purposes.
beneficiaries. See the instructions for PA-41 Schedule NRK-1.
Resident estate and trust beneficiaries are subject to tax on
HOW TO AMEND PA-41 SCHEDULE RK-1
their shares of the estate or trust’s distributed or distributable
Where an amendment to the PA-41, Fiduciary Income Tax
income, regardless of income source. Nonresident estate
Return, results in a need to amend the PA-41 Schedule RK-
and trust beneficiaries are only subject to Pennsylvania
1, an amended PA-41 Schedule RK-1 must be forwarded to
personal income tax on their shares of the estate or trust’s
the PA Department of Revenue with the amended tax return,
distributed or distributable Pennsylvania-source income.
and a copy must be provided to each beneficiary.
RESIDENT BENEFICIARY RESIDENCY STATUS
An amended PA-41, Fiduciary Income Tax Return, and an
The fiduciary of an estate or trust must determine (through
amended PA-41 Schedule RK-1 for each beneficiary must
reasonable means) the residency status of each individual
also be filed to correct any error on or reflect any change to
and/or estate or trust beneficiary. A fiduciary of an estate or
the original PA-41, Fiduciary Income Tax Return, whether or
trust that fails to keep an accurate list of beneficiaries may
not an amended federal Form 1041 was filed for that year.
be subject to the tax, penalty and interest of any beneficiary
To amend an original PA-41 Schedule RK-1, use a blank
who was provided a PA-41 Schedule NRK-1 when a PA-41
schedule for the tax year to be amended and fill in the
Schedule RK-1 should have been provided.
“Amended Schedule” oval at the top of the schedule. Do not
WHO SHOULD RECEIVE A PA-41 SCHEDULE RK-1
send a copy of the original schedule. Complete the schedule
A PA-41 Schedule RK-1 must be prepared and provided to
by entering the corrected information and submit it with the
every Pennsylvania resident beneficiary who is an
amended PA-41, Fiduciary Income Tax Return. See “Where
individual. A copy of the PA-41 Schedule RK-1 for each
To File” in the PA-41 instructions.
resident beneficiary who is an individual must accompany
COMPLETING PA-41 SCHEDULE RK-1
the estate or trust’s PA-41, Fiduciary Income Tax Return.
The estate or trust must prepare and provide both PA-41
FOREIGN ADDRESS INSTRUCTIONS
Schedules RK-1 and NRK-1 to any beneficiary that was a/an:
(OTHER THAN CANADA)
• Individual who was a part-year Pennsylvania resident;
If the estate or trust is located outside the U.S., it is important
• Estate or trust;
to write the foreign address on the PA-41 Schedule RK-1
• PA S corporation;
according to U.S. Postal Service standards.
www.revenue.pa.gov
PA-41 RK-1
1
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Failure to use these standards may delay any refunds
SECTION I
requested or correspondence necessary to complete the
processing of the return.
GENERAL INFORMATION
To comply with foreign address standards, use the following
SSN
rules when completing the address portion of the PA-41
Enter the nine-digit Social Security number (SSN) if the
Schedule RK-1.
beneficiary of the estate or trust is an individual receiving
• Eliminate apostrophes, commas, periods and hyphens.
the PA-41 Schedule RK-1.
LAST NAME, SUFFIX, FIRST NAME, MIDDLE INITIAL
• Use all capital letters to write all lines.
• Write the name of the estate or trust in the space
Enter the last name; suffix such as Jr., Sr., etc; first name
and middle initial of the individual beneficiary who is
provided.
receiving the PA-41 Schedule RK-1.
• Write the name and title of the fiduciary in the space
SPOUSE’S SSN
provided.
Enter the nine-digit SSN of the spouse of the beneficiary (if
• Write the address in the space provided, including street
jointly held) receiving the PA-41 Schedule RK-1.
and building name and number, apartment or suite
FEIN
numbers, city name and city or provincial codes.
• Write only the name of the country in the space provided
Enter the nine-digit federal employer identification number
(FEIN) of the entity beneficiary receiving the PA-41
for the city or post office.
Schedule RK-1.
• Write OC in the entry space for state to indicate out-of-
NAME OF OWNER RECEIVING
country.
RK-1 (OTHER THAN AN INDIVIDUAL)
• Leave the ZIP code spaces on the PA-41 Schedule RK-
If the beneficiary of the estate or trust is an estate, trust a
1 blank.
partnership, PA S corporation or entity formed as a limited
Providing the address in this format will better ensure that
liability company classified as a partnership or PA S
corporation for federal income tax purposes, enter the FEIN
the department is able to send a refund on a timely basis or
and name of the entity receiving the PA-41 Schedule RK-1.
contact the estate or trust if additional information is
If the PA Schedule RK-1 is being issued to an individual
required.
beneficiary, leave this field blank.
Below is an example of a properly completed foreign
FIRST LINE OF ADDRESS
address.
Enter the street address of the individual or entity beneficiary
Foreign Address Example.
receiving the PA-41 Schedule RK-1. If the address has an
apartment number, suite or RR number, enter it after the
DIETRIC-FISCHER INGE TRUST
street address. Eliminate all punctuation such as
PATRIK FISCHER TTEE
apostrophes, commas, periods and hyphens.
WEIMARER STR 7 5300 BONN 1
GERMANY OC
The U.S. Postal Service preference is to put the actual
delivery address on the line immediately above the city, state
CANADA ONLY FOREIGN ADDRESS INSTRUCTIONS
and ZIP Code.
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
apostrophes, commas, periods and hyphens.
9 BOW ST OTTAWA ON K1A 0B1 CANADA OC
For a foreign address, enter the city or municipal
If the estate or trust’s address does not fit in the available
designation. See the Foreign Address Example.
spaces on the PA-41 Schedule RK-1 using the above
formats, please include a separate statement with the return
For a Canadian address, enter the city and postal delivery
showing the complete address.
zone number. See the Canada Address Example.
PA-41 RK-1
www.revenue.pa.gov
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IMPORTANT: If the address has only a post office box,
Enter month, day and year (MMDDYY) when the fiscal year
enter on the first line of address.
begins and ends.
SHORT YEAR
CITY, STATE AND ZIP CODE
A short year is an accounting period shorter than one year
Enter the appropriate information of the individual or entity
(and not a 52-53 week taxable year).
beneficiary receiving the PA-41 Schedule RK-1 in each box.
Eliminate all punctuation such as apostrophes, commas,
A short-year return is required for the following reasons:
periods and hyphens.
• Changes in the annual accounting period. For example,
NAME OF ENTITY ISSUING RK-1
the estate or trust changes from a fiscal to a calendar
filer; or
Enter the name of the estate or trust issuing the PA-41
• An estate or trust is in existence during only part of the
Schedule RK-1.
tax year. For example, the trust or estate is in its initial
CITY, STATE AND ZIP CODE
or final year.
Enter the appropriate information of the estate or trust
See “How to File a Short-Year Return” in the PA-41,
issuing the PA-41 Schedule RK-1 in each box. Eliminate
Fiduciary Income Tax Return instructions.
all punctuation such as apostrophes, commas, periods
and hyphens.
LINE INSTRUCTIONS
FEIN
SECTION II
Enter the nine-digit FEIN of the estate or trust issuing the
PA-41 Schedule RK-1.
SHAREHOLDER/PARTNER/BENEFICIARY
REVENUE ID
DISTRIBUTIVE SHARE OF PENNSYLVANIA-
SOURCE INCOME (LOSS)
This field is not applicable for estates and trusts.
AMENDED SCHEDULE
LINES 1 THROUGH 5
If the estate or trust is filing an amended PA-41, Fiduciary Tax
Return, and the amount of income distributed to a resident
Do not enter any amounts on Lines 1 through 5.
beneficiary changes, fill in the amended schedule oval.
Do not report the income of beneficiaries of estates
FINAL
and trusts on any lines of PA-41 Schedule RK-1
If this is the final year of distributions to the beneficiary from
except Line 6.
the estate or trust, fill in the final oval.
LINE 6
BENEFICIARY’S YEAR-END DISTRIBUTION
Enter the beneficiary’s percentage of year-end distributions
To calculate the beneficiary’s income of/from estates or
from the estate or trust for the ratio of the beneficiary’s
trusts (Line 6) for entry on a PA-41 Schedule RK-1, use the
taxable distribution as reported on PA-41 Schedule RK-1,
following formula:
Line 6 to the total distribution as reported on PA-41,
A x B = Beneficiary Income Reported on Schedule RK-1
Fiduciary Income Tax Return, Line 8.
Line 6
If a beneficiary who is an individual and part-year resident
Where:
or an entity beneficiary, calculate and enter the percentage
A = Total distributed or distributable income which is the
as if a resident taxpayer.
lesser of Line 3a or Line 14a of PA-41 Schedule DD.
Valid values for input on this line include the values of
B = Beneficiary’s year-end distribution percentage. The
“00000” to “10000”. The decimal point is implied after the
beneficiary’s year-end distribution percentage is
third character from the left. For example:
obtained by taking the actual cash or property
• To indicate 100%, enter the value as “10000”;
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
distributed to the beneficiary and dividing that sum by
• To indicate 25%, enter the value as “02500”.
the amount on Line 13a of PA-41 Schedule DD.
OWNER
CAUTION: When calculating beneficiary’s year-end
Fill in the oval that designates what type of beneficiary
distribution percentage, do not take into account:
received the PA-41 RK-1. Fill in one oval only.
• Amounts properly paid out of corpus as a gift or bequest
ENTITY
of a specific amount of money;
Fill in the estate or trust oval only.
• Amounts required to have been distributed in any prior
FISCAL YEAR
taxable year; or
• The market value of property distributed in kind as a gift
If the estate or trust does not file on a calendar-year basis,
fill in the oval.
or bequest of the specific property.
www.revenue.pa.gov
PA-41 RK-1
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