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Arizona Free Printable Arizona Form 120S Schedule K-1 for 2020 Arizona 120S Schedule K-1 - Resident Shareholder's Information Schedule

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120S Schedule K-1 - Resident Shareholder's Information Schedule
Arizona Form 120S Schedule K-1

View Instructions Arizona Form 120S Schedule K-1 Resident and Part-Year Resident Shareholder’s Information Schedule 2019 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 Shareholder’s Identifying Number S corporation’s Employer Identification Number (EIN) Shareholder’s Name S corporation’s Name Shareholder’s Address – number and street or rural route S corporation’s Address – number and street or rural route Shareholder’s City, Town or Post Office S corporation’s City, Town or Post Office State ZIP Code Shareholder’s percentage of stock ownership for the taxable year:  Part 1 State ZIP Code % Net Capital Gain (Loss) From Investment in a Qualified Small Business – Information Schedule If the shareholder’s federal Schedule K-1 (Form 1120-S) does not include any net capital gain (loss) from investment in a qualified small business as determined by the Arizona Commerce Authority, the S corporation is not required to complete Part 1. Pro Rata Share Items Distributive Share Amount 1 Net capital gain (loss) from investment in a qualified small business.......................................................... 1 Part 2 Net Capital Gain (Loss) From the Exchange of Legal Tender – Information Schedule If the shareholder’s federal Schedule K-1 (Form 1120-S) does not include any net capital gain (loss) from the exchange of legal tender, the S corporation is not required to complete Part 2. Pro Rata Share Items Distributive Share Amount 2 Net capital gain (loss) from the exchange of legal tender....................................................................... 2 Part 3 Net Long-Term Capital Gain (Loss) Subtraction – Information Schedule If the shareholder’s federal Schedule K-1 (Form 1120-S) includes net long-term capital gain (loss), complete line 3 through line 5 (if applicable). If the shareholder’s federal Schedule K-1 (Form 1120-S) does not include any net long-term capital gain (loss), the S corporation is not required to complete Part 3. Pro Rata Share Items From federal Form 1120-S, Schedule K-1 (a) Distributive Share Amount 3 Net long-term capital gain (loss)............................... 3 ADDITIONAL INFORMATION: 4 Net long-term capital gain (loss) from investment in a qualified small business (amount already included in line 3, column (c))................................................. 4 5 Net long-term capital gain (loss) from the exchange of legal tender (amount already included in line 3, column (c))................................................................ 5 ADOR 11191 (19) Print (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 2019 Resident and Part-Year Resident Shareholder’s Information Schedule Instructions for Resident and PartYear Resident Shareholders Part 1: 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, and  The business in which the S corporation invested is determined to be a qualified small business by the Arizona Commerce Authority. A shareholder that is a pass-through entity (estate or trust) will need this information to:  Calculate its subtraction, or,  Complete Form 141AZ Schedule K-1, or Form141AZ Schedule K-1(NR), for each beneficiary. Line 1 Line 1 is your share of net capital gain (loss) from investment in a qualified small business. See the instructions for Form(s) 140, 140PY, or 141AZ to determine if you qualify to take this subtraction. Part 2: Net Capital Gain (Loss) From the Exchange of Legal Tender – Information Schedule 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. Line 2 Line 2 is your share of the net capital gain (loss) from the exchange of one kind of legal tender for another kind of legal tender. See the instructions for Form(s) 140, 140PY, or 141AZ to determine how you treat this amount. Part 3: Net Long-Term Capital Subtraction – Information Schedule Gain Arizona allows individuals, estates, and trusts a subtraction from Arizona gross income for a percentage of any net long-term capital gain if:  The gain arises from assets acquired after December 31, 2011, and,  The gain is 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. Arizona Form 120S Schedule K-1   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 shareholder that is a pass-through entity (estate or trust) will need this information to:  Calculate its subtraction, or,  Complete Form 141AZ, Schedule K-1, or Schedule K-1(NR) for each beneficiary. Line 3 Line 3, column (c), is your share of net long-term capital gain (loss) from assets acquired after December 31, 2011. Line 4 Line 4, column (c) is your share of the S corporation’s net long-term capital gain from investment in a qualified small business that is included in the amount on line 3, column (c). The amount on this line 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(s) 140, 140PY, or 141AZ. Line 5 Line 5, column (c) is your share of the S corporation’s net long-term capital gain (loss) from the exchange of legal tender that is included on line 3, column (c). The amount on this line cannot be included in your subtraction for any net long-term capital gain from assets acquired after December 31, 2011. Worksheet for Long-Term Capital Gain Subtraction for Assets Acquired After December 31, 2011 (Worksheet) To determine if you qualify for a net long-term capital gain subtraction on your Arizona income tax return:  Full-year resident shareholders, use the amounts on line 3, line 4, column (c), and line 5, column (c) to figure the allowable subtraction on the Worksheet included in the instructions for Form 140.  Part-year resident shareholders, use the amounts on line 3 line 4, column (c), and line 5, 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 shareholders, use the amounts on line 3, line 4, column (c), and line 5, 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 Long-Term Capital Gain Subtraction – Information Schedule on Form 141AZ, Schedule K-1, or Schedule K-1(NR) for each beneficiary. 
Extracted from PDF file 2019-arizona-form-120s-k1.pdf, last modified October 2009

More about the Arizona Form 120S-K1 Corporate Income Tax TY 2019

We last updated the 120S Schedule K-1 - Resident Shareholder's Information Schedule in March 2020, so this is the latest version of Form 120S-K1, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form 120S-K1 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 Form 120S-K1.

Form Code Form Name
Form 120S-K1-NR Nonresident Shareholder'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 Form 120S-K1 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 Form 120S-K1

We have a total of six past-year versions of Form 120S-K1 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form 120S-K1

Arizona Form 120S Schedule K-1

2017 Form 120S-K1

Arizona Form 120S Schedule K-1

2016 Form 120S-K1

Arizona Form 120S Schedule K-1

Resident Shareholder's Information Schedule 2015 Form 120S-K1

Arizona Form 120S Schedule K-1

Resident Shareholder's Information Schedule 2014 Form 120S-K1

Arizona Form 120S Schedule K-1

Resident Shareholder's Information Schedule 2013 Form 120S-K1

Arizona Form 120S Schedule K-1


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