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 April 1, 2018;
  • 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;

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
1804510053
Resident Schedule of Shareholder/
Partner/Beneficiary Pass Through
Income, Loss and Credits
PA-41 RK-1 04-18
(FI)
2018
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
1804510053
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PA SCHEDULE RK- 1
1804510053
Resident Schedule of Shareholder/
Partner/Beneficiary Pass Through
Income, Loss and Credits
PA-41 RK-1 04-18
(FI)
2018
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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2018
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 04-18
To amend an original PA-41 Schedule
Individual who was a part-year
GENERAL INFORMATION
RK-1, use a blank schedule for the tax
Pennsylvania resident;
year to be amended and fill in the
Estate or trust;
PURPOSE OF SCHEDULE
“Amended Schedule” oval at the top of
Estates and trusts use PA-41 Schedule
PA S corporation;
the schedule. Do not send a copy of the
RK-1 to report income of estates and
Partnership; or
original schedule. Complete the sched-
trusts to each resident beneficiary. A
Entity formed as a limited liability
ule by entering the corrected information
PA-41 Schedule RK-1 is also used to
company classified as a partnership
and submit it with the amended PA-41,
report the income of the estate or trust
or PA S corporation for federal
Fiduciary Income Tax Return. See
for each beneficiary that is a nonresident
income tax purposes.
“Where To File” in the PA-41 instructions.
estate or trust and each nonresident
Both schedules for each such benefici-
partnership, PA S corporation or entity
COMPLETING
ary must also be submitted with the
formed as a limited liability company
PA-41 SCHEDULE RK-1
PA-41, Fiduciary Income Tax Return.
classified as a partnership or PA S cor-
poration for federal income tax purposes.
IMPORTANT: The department
Foreign Address Instructions
does not accept federal Form
Resident estate and trust beneficiaries
(other than Canada)
1041 Schedule K-1 because the sched-
are subject to tax on their shares of the
If the estate or trust is located outside
ule does not properly reflect the classified
estate or trust’s distributed or distributable
the U.S., it is important to write the
Pennsylvania-taxable income amounts.
income, regardless of income source.
foreign address on the PA-41 Schedule
Nonresident estate and trust beneficiaries
PA-41 Schedules RK-1 submitted to
RK-1 according to U.S. Postal Service
are only subject to Pennsylvania personal
resident and entity beneficiaries should
standards.
income tax on their shares of the estate
reflect
the
taxable
income
to
Failure to use these standards may
or trust’s distributed or distributable
Pennsylvania residents even if the
delay any refunds requested or corre-
Pennsylvania-source income.
estate or trust is a nonresident.
spondence necessary to complete the
Resident Beneficiary Residency
PA-41 Schedules NRK-1 issued to
processing of the return.
Status
nonresident entity beneficiaries should
To comply with foreign address stan-
reflect just the Pennsylvania-source
The fiduciary of an estate or trust must
dards, use the following rules when
income taxable to those beneficiaries.
determine (through reasonable means)
completing the address portion of the
Additionally, PA-41 Schedules NRK-1
the residency status of each individual
PA-41 Schedule RK-1.
issued to nonresident estates or trusts
and/or estate or trust beneficiary. A fidu-
should also reflect PA tax withheld for
Eliminate apostrophes, commas,
ciary of an estate or trust that fails to
nonresident beneficiaries. See the
periods and hyphens.
keep an accurate list of beneficiaries
instructions for PA-41 Schedule NRK-1.
may be subject to the tax, penalty and
Use all capital letters to write all lines.
interest of any beneficiary who was
How To Amend
Write the name of the estate or trust
provided a PA-41 Schedule NRK-1
PA-41 Schedule RK-1
in the space provided.
when a PA-41 Schedule RK-1 should
Where an amendment to the PA-41,
Write the name and title of the
have been provided.
Fiduciary Income Tax Return, results in
fiduciary in the space provided.
a need to amend the PA-41 Schedule
Who Should Receive a PA-41
RK-1, an amended PA-41 Schedule RK-1
Write the address in the space
Schedule RK-1
must be forwarded to the PA Department
provided, including street and build-
A PA-41 Schedule RK-1 must be prepared
of Revenue with the amended tax return,
ing name and number, apartment or
and provided to every Pennsylvania
and a copy must be provided to each
suite numbers, city name and city or
resident beneficiary who is an individual.
beneficiary.
provincial codes.
A copy of the PA-41 Schedule RK-1 for
Write only the name of the country
An amended PA-41, Fiduciary Income
each resident beneficiary who is an
Tax Return, and an amended PA-41
in the space provided for the city or
individual must accompany the estate or
Schedule RK-1 for each beneficiary
post office.
trust’s PA-41, Fiduciary Income Tax
must also be filed to correct any error
Return.
Write OC in the entry space for state
on or reflect any change to the original
to indicate out-of-country.
The estate or trust must prepare and
PA-41, Fiduciary Income Tax Return,
provide both PA-41 Schedules RK-1 and
Leave the ZIP code spaces on the
whether or not an amended federal
NRK-1 to any beneficiary that was a/an:
Form 1041 was filed for that year.
PA-41 Schedule RK-1 blank.
www.revenue.pa.gov
PA-41 RK-1
1
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Providing the address in this format will
beneficiary receiving the PA-41 Schedule
City, State and ZIP Code
better ensure that the department is able
RK-1.
Enter the appropriate information of the
to send a refund on a timely basis or
estate or trust issuing the PA-41 Schedule
Name of Owner Receiving
contact the estate or trust if additional
RK-1 in each box. Eliminate all punctu-
RK-1 (Other Than an Individual)
information is required.
ation such as apostrophes, commas,
If the beneficiary of the estate or trust is
periods and hyphens.
Below is an example of a properly
an estate, trust a partnership, PA S
FEIN
completed foreign address.
corporation or entity formed as a limited
liability company classified as a partner-
Enter the nine-digit FEIN of the estate or
Foreign Address Example.
ship or PA S corporation for federal
trust issuing the PA-41 Schedule RK-1.
DIETRIC-FISCHER INGE TRUST
income tax purposes, enter the FEIN
Revenue ID
PATRIK FISCHER TTEE
and name of the entity receiving the
This field is not applicable for estates
WEIMARER STR 7 5300 BONN 1
PA-41 Schedule RK-1. If the PA Schedule
and trusts.
GERMANY OC
RK-1 is being issued to an individual
beneficiary, leave this field blank.
Amended Schedule
Canada Only Foreign Address
If the estate or trust is filing an amended
Instructions
First Line of Address
PA-41, Fiduciary Tax Return, and the
The same rules apply as for other for-
Enter the street address of the individual
amount of income distributed to a resident
eign address instructions. However,
or entity beneficiary receiving the PA-41
beneficiary changes, fill in the amended
when the Canada address contains a
Schedule RK-1. If the address has an
schedule oval.
postal zone and two-character abbrevi-
apartment number, suite or RR number,
ation for provinces and territories, there
Final
enter it after the street address. Eliminate
are special spacing rules for the address
all punctuation such as apostrophes,
If this is the final year of distributions to
line for the PA-41 Schedule RK-1. On
the beneficiary from the estate or trust,
commas, periods and hyphens.
mail to Canada, there must be two
fill in the final oval.
The U.S. Postal Service preference is to
spaces between the province abbrevia-
Beneficiary’s Year-End
put the actual delivery address on the
tion and the postal code. Below is an
Distribution
line immediately above the city, state
example of a properly completed
Enter the beneficiary’s percentage of
and ZIP Code.
Canada foreign address.
year-end distributions from the estate
NOTE: If the street address along
SAUNDERS HELEN ESTATE OF
or trust for the ratio of the beneficiary’s
with the apartment number, suite
JANET SAUNDERS EXECUTRIX
taxable distribution as reported on PA-41
or RR number does not fit on the first
9 BOW ST OTTAWA ON K1A 0B1
Schedule RK-1, Line 6 to the total distri-
line of address, then enter the street
CANADA OC
bution as reported on PA-41, Fiduciary
address on the second line of address
Income Tax Return, Line 8.
If the estate or trust’s address does not
and the apartment number, suite or RR
fit in the available spaces on the PA-41
If a beneficiary who is an individual and
number on the first line of address.
Schedule RK-1 using the above formats,
part-year resident or an entity benefici-
Second Line of Address
please include a separate statement
ary, calculate and enter the percentage
Enter the post office box, if appropriate,
with the return showing the complete
as if a resident taxpayer.
of the individual or entity beneficiary
address.
receiving the PA-41 Schedule RK-1. If
Valid values are: “00000” to
there is no post office box, leave the sec-
“10000”, where 10000 = 100%
PART I
ond line of the address blank. Eliminate
Decimal point is implied after 3rd
all punctuation such as apostrophes,
character from the left
commas, periods and hyphens.
GENERAL INFORMATION
e.g. to indicate 33.33%, the value
For a foreign address, enter the city or
SSN
should be “03333”
municipal designation. See the Foreign
Enter the nine-digit Social Security
Address Example.
e.g. to indicate 25%, the values
number (SSN) if the beneficiary of the
should be “02500”
For a Canadian address, enter the city
estate or trust is an individual receiving
and postal delivery zone number. See
the PA-41 Schedule RK-1.
Owner
the Canada Address Example.
Last Name, Suffix, First Name,
Fill in the oval that designates what type
Middle Initial
IMPORTANT: If the address has
of beneficiary received the PA-41 RK-1.
only a post office box, enter on the
Fill in one oval only.
Enter the last name; suffix such as Jr.,
first line of address.
Sr., etc; first name and middle initial of
Entity
the individual beneficiary who is receiving
City, State and ZIP Code
Fill in the estate or trust oval only.
the PA-41 Schedule RK-1.
Enter the appropriate information of the
Fiscal Year
Spouse’s SSN
individual or entity beneficiary receiving
If the estate or trust does not file on a
the PA-41 Schedule RK-1 in each box.
Enter the nine-digit SSN of the spouse
calendar-year basis, fill in the oval.
of the beneficiary (if jointly held) receiving
Eliminate all punctuation such as apos-
the PA-41 Schedule RK-1.
trophes, commas, periods and hyphens.
Enter month, day and year (MMDDYY)
when the fiscal year begins and ends.
FEIN
Name of Entity Issuing RK-1
Short Year
Enter the nine-digit federal employer
Enter the name of the estate or trust
identification number (FEIN) of the entity
issuing the PA-41 Schedule RK-1.
A short year is an accounting period
2
PA-41 RK-1
www.revenue.pa.gov
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shorter than one year (and not a 52-53
Do not report the income of
CAUTION: When calculating ben-
week taxable year).
eficiary’s year-end distribution
beneficiaries of estates and trusts
percentage, do not take into account:
on any lines of PA-41 Schedule RK-1
A short-year return is required for the
except Line 6.
Amounts properly paid out of corpus
following reasons:
as a gift or bequest of a specific
Changes in the annual accounting
LINE 6
amount of money;
period. For example, the estate or
Amounts required to have been dis-
trust changes from a fiscal to a cal-
To calculate the beneficiary’s income
tributed in any prior taxable year; or
endar filer; or
of/from estates or trusts (Line 6) for entry
The market value of property distrib-
An estate or trust is in existence
on a PA-41 Schedule RK-1, use the
uted in kind as a gift or bequest of
during only part of the tax year. For
following formula:
the specific property.
example, the trust or estate is in its
A x B = Beneficiary Income Reported on
initial or final year.
Schedule RK-1 Line 6
LINES 7 THROUGH 20
See “How to File a Short-Year Return” in
Where:
the PA-41, Fiduciary Income Tax Return
Do not enter any amounts on Lines 7
A = Total distributed or distributable
instructions.
through 20.
income which is the lesser of Line
3a or Line 14a of PA-41 Schedule
LINE INSTRUCTIONS
DD.
B = Beneficiary’s year-end distribution
PART II
percentage. The beneficiary’s
year-end distribution percentage
SHAREHOLDER/PARTNER/
is obtained by taking the actual
BENEFICIARY DISTRIBUTIVE
cash or property distributions
SHARE OF PENNSYLVANIA-
made to the beneficiary and any
SOURCE INCOME (LOSS)
amounts credited or payable or
required to be currently distributed
LINES 1 THROUGH 5
to the beneficiary and dividing that
sum by the amount on Line 13a of
Do not enter any amounts on Lines 1
through 5 and Lines 7 through 20.
PA-41 Schedule DD.
www.revenue.pa.gov
PA-41 RK-1
3
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