Form 60-Schd-K-1 Schedule K-1 S-Corp

Line 2 Sch RZ Part 1 line 14 Line 4a Sch RZ Part 4 line 7 Line 4b Sch RZ Part 5 line 4 Line 4c Sch RZ Part 6 line 6 2012 Shareholder s Instructions for North Dakota Schedule K 1 (Form 60) Page 2 All shareholders North Dakota adjustments and tax credits Amended Amended Schedule K 1 (Form 60) If you received an amended North Dakota Schedule K 1 (Form 60) from the corporation and you previously led a North Dakota income tax return to report your share of income etc from the corporation you must le an amended North Dakota income tax return to report the changes in income gains losses and deductions You also must attach a copy of the amended North Dakota Schedule K 1 (Form 60) to your amended North Dakota income tax return Attach a statement to your North Dakota income tax return explaining any difference between an amount shown on North Dakota Schedule K 1 (Form 60) and the amount reported on your North Dakota income tax return Composite return election If you are a nonresident individual who elected to include your share of the corporation s North Dakota income gains losses and deductions in a composite return led by the corporation you are not required to le a North Dakota individual income tax return If this applies to you you received North Dakota Schedule K 1 to show your share of these items and the composite income tax paid on them If you later choose to le your own North Dakota individual income tax return follow the instructions below to transfer the amounts from North Dakota Schedule K 1 to your return Enter the corporation s apportionment factor from Schedule FACT line 14 Final Form 38 ler (nonresident only): Form 38 ler: Form 38 Part 1 line 2 Form ND 1 ler (nonresident only): Form ND 1 ler: from this schedule: Column B: Lines 19 21 Line 6 Lines 22 23 Line 2 Line 24 Line 6 Lines 25 27 Line 4 Line 28 Line 8 Lines 29 30 Line 6 Line 31 Line 4 from this schedule: On: from this schedule: On: Line 1 Form ND 1 line 7 Line 2 Sch RZ Part 1 line 14 Line 3 Form ND 1SA line 2 Line 4a Sch RZ Part 4 line 7 Line 4b Sch RZ Part 5 line 4 Line 4c Sch RZ Part 6 line 6 Line 5 Sch ND 1TC line 4 Line 6 Sch ND 1TC line 3 Line 7 Sch ND 1TC line 6 Line 8 Sch ND 1TC line 7 Line 9 Sch ND 1TC line 14b Line 10 Sch ND 1TC line 8a Line 11 Sch ND 1TC line 9a Line 12 Sch ND 1TC line 10a Line 13a Sch ND 1TC line 12 from this schedule: Schedule Part 2 Column B: Lines 19 21 Line 5 Line 22 Line 1 Line 23 Line 2 Line 24 Line 5 Lines 25 26 Line 4 Line 27 Line 4 or 7 Line 28 Line 8 Lines 29 30 Line 5 Line 31 Line 4 or 7 If the full amount of any item is not included in your adjusted gross income on your federal income tax return because of limitations on the deductibility of a passive activity loss capital loss section 179 deduction or for any other reason enter on your North Dakota return only that portion of the item included in your federal adjusted gross income If you are a nonresident individual estate or trust lines 19 through 31 of Part 4 show your share of the corporation s North Dakota income gains losses and deductions that you must report on your North Dakota income tax return Transfer these amounts to your North Dakota income tax return as instructed below based on the type of return you are ling If you elected to include your North Dakota distributive share of income (loss) in a composite return the amount shown on this line is the amount of North Dakota composite income tax paid on your behalf by the corporation If you made this election you are not required to le your own North Dakota individual income tax return This is for your information only If you have a North Dakota distributive share of income of $1 000 or more the corporation was required to withhold North Dakota income tax from it at the rate of 3 99% unless you elected to include it in a composite return led by the corporation Include the amount Include the amount On Schedule ND 1NR Include the amount On Tax Computation Line 1 Form 38 page 2 Part 1 Line 13a Form 38 page 1 line 3 Line 13b See instructions to Line 14 Sch ND 1TC line 13a Line 15 Sch ND 1TC line 15 Line 16a Form 38 page 1 line 3 Line 16a Sch ND 1TC line 11a Line 16b Form 38 page 1 line 3 Line 16b Sch ND 1TC line 11b Line 17 Form 38 page 1 line 3 Line 17 Sch ND 1TC line 19 Line 18 Line 3 Form 38 page 2 Part 1 Line 32 Line 33 Line 34 line 4a line 4d Line 9 Not applicable Lines 1 17 Lines 10 12 Form 38 page 1 line 3 Lines 14 15 Form 38 page 1 line 3 Lines 19 31 Lines 32 through 34 apply to a nonresident individual shareholder only Lines 5 8 Form 38 page 1 line 3 ND 1 line 4a Nonresident individual estate or trust shareholder If you are a nonresident individual estate or trust you must report to North Dakota your share of the corporation s income gains losses and deductions that are apportioned and allocated to North Dakota based on the corporation s activity in North Dakota These items are shown in Part 4 of North Dakota Schedule K 1 Unless you are a nonresident individual who elected to include your share of these items in a composite return led on your behalf by the corporation you must le a North Dakota income tax return to report and pay the required income tax on them Nonresident individual estate or trust shareholders only North Dakota income (loss) Nonresident individual shareholders only North Dakota Of ce of State Tax Commissioner North Dakota Office of State Tax Commissioner North Dakota Schedule K 1 (Form 60) is provided to you by the corporation to show your share of the income gains losses deductions and other items from the corporation that you need to complete your North Dakota income tax return These instructions will assist you in transferring the amounts from the schedule to your North Dakota income tax return Note: Any reference to another North Dakota form and line number contained in these instructions is a reference to the form to be used for the 2012 tax year Therefore report the amounts from the 2012 North Dakota Schedule K 1 on your 2012 North Dakota return However if you and the S corporation do not have the same tax year enter the amounts on the North Dakota return that you le for the tax year in which the S corporation s tax year ends For example if you le on a calendar year basis and the S corporation s year ends in February 2013 report the amounts on your 2013 return Note: If you later choose to le your own North Dakota individual income tax return you may claim this amount as a tax payment on Form ND 1 line 28 Attach a copy of the North Dakota Schedule K 1 (Form 60) to your return to support the amount claimed Note: Wherever you see Not applicable in the right hand column of the following lists it means that the item does not apply to the return being completed; do not enter the item on the return OffOff Page 1 Part 3 Part 4 Part 5 Purpose of schedule Resident individual estate or trust shareholder If you are a North Dakota resident individual estate or trust you must report to North Dakota your entire share of the corporation s income gains losses and deductions included in your federal taxable income You have received North Dakota Schedule K 1 only to show your share of the corporation s North Dakota statutory adjustments or tax credits that may affect the preparation of your North Dakota income tax return See the instructions to Part 3 Shareholder s Instructions for North Dakota Schedule K 1 (Form 60) The amount shown on this line is the amount of North Dakota income tax withheld by the corporation from your North Dakota distributive share of income Include this amount on Form ND 1 line 28 Attach a copy of North Dakota Schedule K 1 (Form 60) to your return This is the net amount of your North Dakota distributive share of income (loss) from the corporation Do not enter the amount from this line anywhere on your return It is for your information only www nd gov/tax