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This version of the form is not currently in use and is provided for reference only. Download this version of
Form N-20 Schedule K-1
for the current year.
Form N-20 Schedule K-1 Partner's Share of Income, Credits, Deductions, Etc. - Hawaii
What Is Form N-20 Schedule K-1?
This is a legal form that was released by the Hawaii Department of Taxation - a government authority operating within Hawaii.The document is a supplement to Form N-20, Partnership Return of Income. Check the official instructions before completing and submitting the form.
FAQ
Q: What is Form N-20 Schedule K-1?
A: Form N-20 Schedule K-1 is a document used by partnerships in Hawaii to report each partner's share of income, credits, deductions, and other relevant information.
Q: Who needs to file Form N-20 Schedule K-1?
A: Partnerships in Hawaii need to file Form N-20 Schedule K-1 to report the allocation of income, credits, deductions, and other relevant information to each partner.
Q: What information does Form N-20 Schedule K-1 include?
A: Form N-20 Schedule K-1 includes information about each partner's share of income, deductions, credits, and other items reported by the partnership.
Q: When is the deadline to file Form N-20 Schedule K-1?
A: The deadline to file Form N-20 Schedule K-1 in Hawaii is typically the same as the deadline for filing the partnership's tax return, which is the 20th day of the fourth month following the close of the partnership's taxable year.
Q: Are there any penalties for late filing?
A: Yes, there may be penalties for late filing of Form N-20 Schedule K-1. It is important to file the form by the deadline to avoid any potential penalties or interest charges.
Q: Do partners need to include Form N-20 Schedule K-1 with their personal tax return?
A: Yes, partners generally need to include Form N-20 Schedule K-1 with their personal tax return to report their share of income, deductions, and credits from the partnership.
Q: Is Form N-20 Schedule K-1 the same as Form 1065 Schedule K-1?
A: No, Form N-20 Schedule K-1 is specific to partnerships in Hawaii, while Form 1065 Schedule K-1 is used for partnerships at the federal level.
Form Details:
- Released on January 1, 2022;
- The latest edition provided by the Hawaii Department of Taxation;
- 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 N-20 Schedule K-1 by clicking the link below or browse more documents and templates provided by the Hawaii Department of Taxation.
Download Form N-20 Schedule K-1 Partner's Share of Income, Credits, Deductions, Etc. - Hawaii
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