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Arizona Free Printable Arizona Form 120S Schedule K-1(NR) for 2020 Arizona Nonresident Shareholder's Share of Income and Deductions

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Nonresident Shareholder's Share of Income and Deductions
Arizona Form 120S Schedule K-1(NR)

View Instructions Nonresident Shareholder’s Share of Income and Deductions Arizona Form 120S Schedule K-1(NR) 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 Share of Income and Deductions Pro Rata Share Items From federal Form 1120-S, Schedule K-1 (a) Distributive Share Amount (b) Arizona Apportionment Ratio (c) Arizona Source Income Form 140NR Filers: Enter the amount in column (c) on: 1 Ordinary income (loss) from trade or business activities..................................................... 2 Net income (loss) from rental real estate activities.... 3 Net income (loss) from other rental activities............ 4 Total: Add lines 1, 2, and 3....................................... Line 21 5 Interest...................................................................... Line 16 6 Dividends................................................................... Line 17 7 Royalties.................................................................... Line 21 8 Net short-term capital gain (loss).............................. Line 20 9 Net long-term capital gain (loss)................................ Line 20 10 Net IRC Section 1231 gain (loss).............................. Line 20 11 Other income (loss)................................................... Line 22 12 IRC Section 179 expense.......................................... Line 21 13 Other deductions: Include schedule......................... Continued on page 2  ADOR 10338 (19) Name of S corporation (as shown on page 1) Part 2 Employer Identification Number 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 2. (a) Distributive Share Amount Pro Rata Share Items 14 Net capital gain (loss) from investment in a qualified small business........................................... Part 3 (b) Arizona Apportionment Ratio (c) Arizona Source Income 14 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 3. (a) Distributive Share Amount Pro Rata Share Items 15 Net capital gain (loss) from the exchange of legal tender....................................................................... Part 4 (b) Arizona Apportionment Ratio (c) Arizona Source Income 15 Net Long-Term Capital Gain (Loss) Subtraction – Information Schedule If the shareholder’s federal Schedule K-1 (Form 1120-S) includes capital gain (loss), complete lines 16 through 18. If the shareholder’s federal Schedule K-1 (Form 1120-S) does not include any capital gain (loss), the S corporation is not required to complete Part 4. Item From federal Form 1120-S, Schedule K-1 (a) Distributive Share Amount From page 1, line 9, column (a). 16 Total net long-term capital gain (loss)............. (b) (c) Arizona Source Income Net long-term capital gain (loss) included in column (b) from From page 1, line 9, assets acquired before column (c). January 1, 2012 (d) Net long-term capital gain (loss) included in column (b) from assets acquired after December 31, 2011 16 ADDITIONAL INFORMATION: 17 Net long-term capital gain (loss) from investment in a qualified small business (amount already included in line 16, column (d)).................................................... 18 Net long-term capital gain (loss) from exchange of legal tender (amount already included in line 16, (column (d)).................... 17 18 Print ADOR 10338 (19) AZ Form 120S, Schedule K-1(NR) (2019) Page 2 of 2 2019 Nonresident Shareholder’s Share of Income and Deductions   Instructions for Nonresident Shareholders Part 1 -- Share of Income and Deductions Nonresident shareholders, column (c) is your Arizona source income:  If you are a nonresident individual, use the line numbers on Schedule K-1(NR) to report the amounts shown in column (c) on your Form 140NR.  If you are a nonresident trust or estate, add lines 4 through 13 in column (c). Enter the total on Form 141AZ, page 2, Schedule A. If Form 120S, Schedule K-1(NR), shows a loss, you may only claim such losses on your Arizona nonresident return to the extent:  Those losses are included in: o The federal adjusted gross income of an individual, or o The federal taxable income of a trust or an estate.  The loss is not considered a passive activity loss for federal purposes. (If it is, the loss will be treated as a passive activity loss for Arizona purposes.) If the S corporation passes through to you a passive activity loss derived from Arizona sources:  Do not begin your Arizona return with the amounts shown in column (c) of your Form 120S, Schedule K1(NR).  You must first determine if any portion of the loss has been limited on your federal return due to federal passive activity loss rules. In addition:  Only the amount of passive activity loss derived from Arizona sources will be allowed on the Arizona return.  Any portion of the passive activity loss not allowed on the federal return due to passive activity loss limitations will be limited on the Arizona return.  That portion of the passive activity loss derived from Arizona sources required to be carried forward for federal purposes will be carried forward for Arizona purposes. NOTE: The amount of Internal Revenue Code § 179 expense deductible is limited to the Arizona portion of the amount deducted on federal Form 1040, Schedule E. 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, and  Arizona Form 120S Schedule K-1(NR)  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 for the estate or trust, or  Complete Form 141AZ, Schedule K-1, or Schedule K 1(NR), for each beneficiary. Line 14 Column (c) is your share of net capital gain (loss) from investment in a qualified small business that is apportioned to Arizona. To determine if you qualify to take this subtraction, see the instructions for Form 140NR. Part 3 -- 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 15 Column (c) is your share of net capital gain (loss) from the exchange of legal tender that is apportioned to Arizona. Part 4 -- Net Long-Term Capital Gain Subtraction – Information Schedule 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 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.  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 16 Line 16, column (d) is your share of net long-term capital gain (loss) from assets acquired after December 31, 2011.       Arizona 120S Schedule K‐1(NR)  Line 17 Line 17 is your share of the S corporation’s net longterm capital gain from investment in a qualified small business that is included in the amount on line 18, column (d). 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 140NR or 141AZ. 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:  Nonresident shareholder, use only the amount of Arizona-sourced, net long-term capital gain (loss) entered on lines 16 through 18, column (d) to figure the allowable subtraction on the Worksheet included in the instructions for Form 140NR. Line 18 Line 18 is your share of the S corporation’s net longterm capital gain from the exchange of legal tender that is included in the amount on line 18, column (d). 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.  2    Nonresident Estate or Trust shareholder, use only the amount of Arizona-sourced, net long-term capital gain (loss) entered on lines 16 through 18, column (d) to complete the Worksheet included in the instructions for Form 141AZ. If the net long-term capital gain (loss) in Part 4 is distributed 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-nr.pdf, last modified October 2009

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

We last updated the Nonresident Shareholder's Share of Income and Deductions in March 2020, so this is the latest version of Form 120S-K1-NR, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form 120S-K1-NR 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-NR.

Form Code Form Name
Form 120S-K1 120S Schedule K-1 - Resident Shareholder's Information Schedule

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-NR from the Department of Revenue in March 2020.

Show Sources >

Form 120S-K1-NR is an Arizona Corporate Income Tax form. Many states have separate versions of their tax returns for nonresidents or part-year residents - that is, people who earn taxable income in that state live in a different state, or who live in the state for only a portion of the year. These nonresident returns allow taxpayers to specify which which income is subject to the state's taxes, and which is not.

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-NR

We have a total of six past-year versions of Form 120S-K1-NR 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-NR

Arizona Form 120S Schedule K-1(NR)

2017 Form 120S-K1-NR

Arizona Form 120S Schedule K-1(NR)

2016 Form 120S-K1-NR

Arizona Form 120S Schedule K-1(NR)

Nonresident Shareholder's Share of Income and Deductions 2015 Form 120S-K1-NR

Arizona Form 120S Schedule K-1(NR)

Nonresident Shareholder's Share of Income and Deductions 2014 Form 120S-K1-NR

Arizona Form 120S Schedule K-1(NR)

Nonresident Shareholder's Share of Income and Deductions 2013 Form 120S-K1-NR

Arizona Form 120S Schedule K-1(NR)


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