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Arizona Free Printable Arizona Form 165 Schedule K-1 for 2020 Arizona Schedule K-1 Resident Partner's Share of Adjustment to Partnership Income

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Schedule K-1 Resident Partner's Share of Adjustment to Partnership Income
Arizona Form 165 Schedule K-1

View Instructions Resident and Part-Year Resident Partner’s Share of Adjustment to Partnership Income Arizona Form 165 Schedule K-1 2019 Corporate partners must use Form 165 Schedule K-1(NR). For the  calendar year 2019 or  fiscal year beginning M M D D 2 0 1 9 and ending M M D D 2 0 Y Y . CHECK ONE:  Original  Amended Partner’s Identifying Number Partnership’s Employer Identification Number (EIN) Partner’s Name Partnership’s Name Partner’s Address – number and street or rural route Partnership’s Address – number and street or rural route Partner’s City, Town or Post Office Partnership’s City, Town or Post Office State ZIP Code Partner’s Percentage of: Beginning of Year State ZIP Code End of Year Profit sharing................................................ % % Loss sharing................................................. % % Ownership of capital..................................... % % Type of partner (individual, trust, or estate).. Part 1 Arizona Partnership Adjustment 1 Adjustment of partnership income from federal to Arizona basis from Form 165, page 1, line 6.... 1 00 2 Partner’s percentage of profit or loss (expressed as a decimal)...................................................... 2 • 3 Partner’s distributive share of the adjustment of partnership income from federal to Arizona basis: Multiply line 1 by line 2......................................................................................................... 3 00 Part 2 Net Capital Gain (Loss) From Investment in a Qualified Small Business – Information Schedule If the partner’s federal Schedule K-1 (Form 1065) does not include any net capital gain (loss) from investment in a qualified small business as determined by the Arizona Commerce Authority, the partnership is not required to complete Part 2. Pro Rata Share Items Distributive Share Amount 4 Net capital gain (loss) from investment in a qualified small business.......................................................... 4 Part 3 Net Capital Gain (Loss) From the Exchange of Legal Tender – Information Schedule If the partner’s federal Schedule K-1 (Form 1065) does not include any net capital gain (loss) from the exchange of legal tender, the partnership is not required to complete Part 3. Pro Rata Share Items Distributive Share Amount 5 Net capital gain (loss) from the exchange of legal tender....................................................................... 5 ADOR 10344 (19) Print Form Name of Partnership (as shown on page 1) Part 4 EIN Net Long-Term Capital Gain Subtraction – Information Schedule If the partner’s federal Schedule K-1 (Form 1065) does not include any net long-term capital gain (loss), the partnership is not required to complete Part 4. (a) Distributive Share Amount Pro Rata Share Items From federal Form 1065, Schedule K-1 (b) Net long-term capital gain (loss) included in column (a) from assets acquired before January 1, 2012 (c) Net long-term capital gain (loss) included in column (a) from assets acquired after December 31, 2011 6 Total Net long-term capital gain (loss)...................... 6 ADDITIONAL INFORMATION: 7 Net long-term capital gain (loss) from investment in a qualified small business (amount already included in line 6, column (c))................................................. 7 8 Net long-term capital gain (loss) from the exchange of legal tender (amount already included in line 6, column (c))................................................................ 8 Print Instructions ADOR 10344 (19) AZ Form 165, Schedule K-1 (2019) Page 2 of 2 2019 Resident and Part-Year Resident Partner’s Share of Adjustment to Partnership Income Part 3 - Net Capital Gain (Loss) From the Exchange of Legal Tender – Information Schedule Instructions for Partners Part 1 - Arizona Partnership Adjustment The partnership is required to adjust its income from a federal to Arizona basis. Line 3 of Form 165 Schedule K-1, is your share of that adjustment. Report the amount from line 3 on your Arizona tax return following the instructions below. For taxable years beginning from and after December 31, 2017, Arizona allows the exclusion from gross income the amount of net capital gain (loss) derived from the exchange of one kind of legal tender for another kind of legal tender. (a) “Legal tender” means a medium of exchange, including specie, that is authorized by the United States Constitution or Congress for the payment of debts, public charges, taxes and dues. (b) “Specie” means coins having precious metal content. Resident Individuals   If line 3 is a positive number, enter the amount on Form 140, page 1, line 14. If line 3 is a negative number, enter the amount on Form 140, page 1, line 27. Line 5 - Part-Year Resident Individuals   Line 5 is your share of the net capital gain (loss) derived from the exchange of one kind of legal tender for another. A net capital gain is reported as a positive number. A net capital loss is reported as a negative number. If line 3 is a positive number, enter that portion of line 3 allocable to partnership income taxable by Arizona on Form 140PY, line 30. If line 3 is a negative number, enter that portion of line 3 allocable to partnership income taxable by Arizona on Form 140PY, line 44. Part 4 - Net Long-Term Capital Subtraction - Information Schedule Resident Estates or Resident Trusts   Gain Arizona allows individuals, estates, and trusts a subtraction from Arizona gross income for a percentage of any net longterm capital gain if:  The gain arises from assets acquired after December 31, 2011.  The gain must be included in: o The individual’s federal adjusted gross income, or, o The estate or trust’s federal taxable income. In addition:  Only include net long-term gains if you can verify the asset was acquired after December 31, 2011.  If you cannot verify the asset was acquired after December 31, 2011, treat it as a capital gain asset acquired before January 1, 2012.  An asset acquired by gift or inheritance is considered acquired on the date it was acquired by the gift-giver, or the deceased. A partner that is a pass-through entity (estate or trust) will need this information to:  Calculate the subtraction for the estate or trust, or,  Complete Form 141AZ, Schedule K-1, or Schedule K-1(NR), for each beneficiary. If line 3 is a positive number, enter the amount on Form 141AZ, Schedule B, line B3. If line 3 is a negative number, enter the amount on Form 141AZ, Schedule B, line B9. Part 2 - Net Capital Gain (Loss) From Investment in a Qualified Small Business – Information Schedule Arizona allows individuals, estates and trusts a subtraction from Arizona gross income for any net capital gain derived from investment in a qualified small business if:  The gain is included in: o The individual’s federal adjusted gross income, or o The estate or trust’s federal taxable income  The business in which the partnership invested is determined to be a qualified small business by the Arizona Commerce Authority. A partner that is a pass-through entity (estate or trust) will need this information to:  Calculate the subtraction for the estate or trust, or  Complete Form 141AZ, Schedule K-1 or Schedule K-1(NR), for each beneficiary.  Line 6 Line 6, column (c), is your share of net long-term capital gain (loss) from assets acquired after December 31, 2011. Line 4 Line 4, column (a) is your share of net capital gain (loss) from investment in a qualified small business. See the instructions for Forms 140, 140PY, or 141AZ to determine if you qualify to take this subtraction.     Arizona Form 165 Schedule K-1   Line 7 -   165 Schedule K‐1  Worksheet for Long-Term Capital Gain Subtraction for Assets Acquired After December 31, 2011 (Worksheet) Line 7, column (c) is your share of the partnership’s net longterm capital gain from investment in a qualified small business that is included in the amount on line 6, column (c). The amount on line 7 cannot be included in your subtraction for any net long-term capital gain from assets acquired after December 31, 2011. For more information, see the instructions for Form 140, 140PY, or 141AZ. To determine if you qualify to claim a subtraction from income on your Arizona tax return:  Full-year resident partners, use the amounts on line 6, line 7, column (c), and line 8, column (c) to figure the allowable subtraction on the Worksheet included in the instructions for Form 140.  Part-year resident partners, use the amounts on line 6, line 7, column (c), and line 8, column (c) that are included in your Arizona gross income to figure the allowable subtraction on the Worksheet included in the instructions for Form 140PY.  Resident estate or trust partners, use the amounts on line 6, line 7, column (c), and line 8, column (c) to complete the Worksheet included in the instructions for Form 141AZ. If the resident estate or trust distributed the gain (loss) to the beneficiaries, the Worksheet will assist the estate or trust in completing the Net LongTerm Capital Gain Subtraction – Information Schedule on Form 141AZ, Schedule K-1, or Schedule K-1(NR) for each beneficiary. Line 8 Line 8, column (c) is your share of the partnership’s net longterm capital gain (loss) from the exchange of one form of legal tender for another. The amount on line 8, column (c) cannot be included in your subtraction for any net long-term capital gain from assets acquired after December 31, 2011.   2   
Extracted from PDF file 2019-arizona-165-schedule-k-1.pdf, last modified October 2009

More about the Arizona 165 Schedule K-1 Corporate Income Tax TY 2019

We last updated the Schedule K-1 Resident Partner's Share of Adjustment to Partnership Income in March 2020, so this is the latest version of 165 Schedule K-1, fully updated for tax year 2019. You can download or print current or past-year PDFs of 165 Schedule K-1 directly from TaxFormFinder. You can print other Arizona tax forms here.

Related Arizona Corporate Income Tax Forms:

TaxFormFinder has an additional 95 Arizona income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Arizona 165 Schedule K-1.

Form Code Form Name
165 Schedule K-1(NR) Schedule K-1(NR) Arizona Nonresident and Out-of-State Partner's Share of Income and Deductions

Download all AZ tax forms View all 96 Arizona Income Tax Forms


Form Sources:

Arizona usually releases forms for the current tax year between January and April. We last updated Arizona 165 Schedule K-1 from the Department of Revenue in March 2020.

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About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Arizona 165 Schedule K-1

We have a total of eight past-year versions of 165 Schedule K-1 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 165 Schedule K-1

Arizona Form 165 Schedule K-1

2016 165 Schedule K-1

Arizona Form 165 Schedule K-1

Resident Partner's Share of Adjustment to Partnership Income 2015 165 Schedule K-1

Arizona Form 165 Schedule K-1

Resident Partner's Share of Adjustment to Partnership Income 2014 165 Schedule K-1

Arizona Form 165 Schedule K-1

Resident Partner's Share of Adjustment to Partnership Income 2013 165 Schedule K-1

Arizona Form 165 Schedule K-1

Resident Partner's Share of Adjustment to Partnership Income 2012 165 Schedule K-1

Arizona Form 165 Sch. K-1

Resident Partner's Share of Adjustment to Partnership Income 2011 165 Schedule K-1

Arizona Form 165 Sch. K-1


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