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California Free Printable 2020 California Schedule K-1 (565) Partner’s Share of Income, Deductions, Credits, etc. for 2021 California Partner's Share of Income, Deductions, Credits, etc. (Fill-in)

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Partner's Share of Income, Deductions, Credits, etc. (Fill-in)
2020 California Schedule K-1 (565) Partner’s Share of Income, Deductions, Credits, etc.

TAXABLE YEAR 2020 Partner’s Share of Income, Deductions, Credits, etc. CALIFORNIA SCHEDULE K-1 (565) For calendar year 2020 or fiscal year beginning and ending (m m / d d / y y y y) . (m m / d d / y Partner's name y y y) Partner's identifying number Address City Partnership's FEIN State ZIP code State ZIP code California Secretary of State file number Partnership's name Address City   limited partner? A Is this partner a: • (1)  general partner; or (2) B What type of entity is this partner? • See instructions.  Individual (2)  S Corporation (3)  Estate/Trust  C Corporation (5)  General Partnership (6)  Limited Partnership (1)  LLP (8)  LLC (9)  IRA/Keogh/SEP (4) (7)  Exempt Organization (11)  Disregarded Entity (10)  Yes  No C Is this partner a foreign partner? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •  D Enter partner’s percentage (without regard to special allocations) of: (i) Beginning (ii) Ending Profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . % • . % Loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . % • . % Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . % • . % E Partner’s share of liabilities: (i) Beginning (ii) Ending Nonrecourse. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ . 00 • $ . 00 Qualified nonrecourse financing $ . 00 • $ . 00 Recourse . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ . 00 • $ . 00 F Reportable transaction or tax shelter registration number(s) • G (1) Check here if this is a publicly traded partnership as defined in IRC Section 469(k)(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • (2) Check here if this is an investment partnership (R&TC Sections 17955 and 23040.1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • H Check here if this is: • (1)  A final Schedule K-1 (565) (2)  An amended Schedule K-1 (565) I Is this partner a resident of California? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . For Privacy Notice, get FTB 1131 ENG/SP. 7891203 •  Yes ▶  Schedule K-1 (565) 2020 Side 1    No Partner's name J Partner's identifying number Analysis of partner’s capital account: Check the box (a) Capital account at beginning of year • • (1) (b) Capital contributed during year • • Tax Basis (2) • GAAP (3) (c) Partner’s share of line 3, line 4, and line 7, Form 565, Schedule M-2 • • IRC Section 704(b) Book (4) (d) Withdrawals and distributions •( • Other (explain) (e) Capital account at end of year, combine column (a) through column (d) ) • Caution: Refer to Partner’s Instructions for Schedule K-1 (565) before entering information from this schedule on your California return. Income (Loss) (a) Distributive share items (b) Amounts from federal Schedule K-1 (1065) (c) California adjustments (e) California source amounts and credits 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 Guaranteed payments to partners. . . . . . . . . . . . . . • ▶ 5 Interest income. . . . . . . . . . . . . . . . . . . . . . . . . . . . • ▶ 6 Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • ▶ 7 Royalties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • ▶ 8 Net short-term capital gain (loss) . . . . . . . . . . . . . • ▶ 9 Net long-term capital gain (loss) . . . . . . . . . . . . . . • ▶ 10 a Total gain under IRC Section 1231 (other than due to casualty or theft). . . . . . . . • ▶ b Total loss under IRC Section 1231 (other than due to casualty or theft). . . . . . . . • ▶ 11 a Other portfolio income (loss). Attach schedule. . • ▶ b Total other income. Attach schedule . . . . . . . . . . • ▶ c Total other loss. Attach schedule . . . . . . . . . . . . • ▶ 12 Expense deduction for recovery property (IRC Section 179) . . . . . . . . . . . . . . . . . . . . . . . 13 a Charitable contributions . . . . . . . . . . . . . . . . . . . Deductions (d) Total amounts using California law. Combine col. (b) and col. (c) b Investment interest expense . . . . . . . . . . . . . . . . c 1 Total expenditures to which an IRC Section 59(e) election may apply. . . . . . . . 2 Type of expenditures _________________. . . d Deductions related to portfolio income . . . . . . . . e Other deductions. Attach schedule . . . . . . . . . . . Side 2 Schedule K-1 (565) 2020 7892203 Partner's name Partner's identifying number (a) Distributive share items (b ) Amounts from federal Schedule K-1 (1065) (c) California adjustments 15 a Total withholding (equals amount on Form 592-B if calendar year partnership) . . . . (d) Total amounts using California law. Combine col. (b) and col. (c) (e) California source amounts and credits • ▶ • • Credits b Low-income housing credit . . . . . . . . . . . . . . . c Credits other than line 15b related to rental real estate activities . . . . . . . . . . . . . . . . . . . . . d Credits related to other rental activities . . . . . . e Nonconsenting nonresident members' tax allocated to partner . . . . . . . . . . . . . . . . . . Alternative Minimum Tax (AMT) Items 17 a Depreciation adjustment on property placed in service after 1986 . . . . . . . . . . . . . . . . . . . . Tax-Exempt Income Other and Nondeductible Information Distributions Expenses f Other credits – Attach required schedules or statements. . . . . . . . . . . . . . . . . . . . . . . . . . 18 a Tax-exempt interest income . . . . . . . . . . . . . . . b Adjusted gain or loss . . . . . . . . . . . . . . . . . . . . c Depletion (other than oil & gas). . . . . . . . . . . . d Gross income from oil, gas, and geothermal properties . . . . . . . . . . . . . . . . . . . e Deductions allocable to oil, gas, and geothermal properties . . . . . . . . . . . . . . . . . . . f Other alternative minimum tax items . . . . . . . . b Other tax-exempt income. . . . . . . . . . . . . . . . . c Nondeductible expenses . . . . . . . . . . . . . . . . . 19 a Distributions of money (cash and marketable securities) . . . . . . . . . . . . . . . . . . . • b Distributions of property other than money . . . • 20 a Investment income . . . . . . . . . . . . . . . . . . . . . b Investment expenses . . . . . . . . . . . . . . . . . . . . c Other information. See instructions . . . . . . . . . 7893203 Schedule K-1 (565) 2020 Side 3 Partner's name Partner's identifying number Other Partner Information Table 1 — Partner's share of nonbusiness income from intangibles (source of income is dependent on residence or commercial domicile of the partner): Interest . . . .$ Sec. 1231 Gains/Losses . . . $ Capital Gains/Losses. . . . . $ Dividends . .$ Royalties . . . . . . . . . . . . . . . $ Other . . . . . . . . . . . . . . . . $ FOR USE BY PARTNERS ONLY – See instructions. Table 2 — Partner's share of distributive items. A. Partner's share of the partnership's business income. See instructions. $ B. Partner's share of nonbusiness income from real and tangible personal property sourced or allocable to California. Capital Gains/Losses . . . . . . . .$ Rents/Royalties . . . .$ Sec. 1231 Gains/Losses. . . . . .$ Other . . . . . . . . . . . .$ C. Partner's distributive share of the partnership's property, payroll, and sales: Factors Total within and outside California Total within California Property: Beginning . . . . . . . . . . . . . . . . . . . . $ $ Property: Ending . . . . . . . . . . . . . . . . . . . . . . . $ $ Property: Annual rent expense . . . . . . . . . . . . $ $ Payroll . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ $ Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ $ Table 3 — Partner’s share of cost of goods sold, deductions, and rental income. Enter only amounts used to determine income (loss) derived from and attributable to California sources. All amounts entered on this table are first multiplied by the appropriate percentage in Item D (ii) end of year partner’s profit and loss percentage on Side 1. See the partnership Schedule K-1 instructions for information on how to obtain the amounts below. 1. Schedule K, line 1, column (d), Ordinary income (loss) from trade or business activities: a. Enter as a positive amount the cost of goods sold used to determine the amount on Schedule K, line 1, column (d), plus the total amounts on line 1a of Table 3 from all Schedule K-1s (565) this partnership received . . . . . . . . . . . . . . . . b. Enter as a positive amount the total deductions used to determine the amount on Schedule K, line 1, column (d), plus the total amounts on line 1b of Table 3 from all Schedule K-1s (565) this partnership received . . . . . . . . . . . . . . . . 2. Enter the total gross rents from line 18a of federal Form 8825 as adjusted for California law differences, plus the total amounts on line 2 of Table 3 from all Schedule K-1s (565) this partnership received . . . . . . . . . . . . . . . . . . . . . . . . . . 3. Enter the gross income (loss) from other rental activities from Schedule K, line 3a, column (d), plus the total amounts on line 3 of Table 3 from all Schedule K-1s (565) this partnership received . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Side 4 Schedule K-1 (565) 2020 7894203
Extracted from PDF file 2020-california-565-schedule-k-1.pdf, last modified November 2020

More about the California 565 Schedule K-1 Corporate Income Tax Tax Credit TY 2020

This form must be filled out if you and your partner have a shared income along with estimating deductions and credits.

We last updated the Partner's Share of Income, Deductions, Credits, etc. (Fill-in) in March 2021, so this is the latest version of 565 Schedule K-1, fully updated for tax year 2020. You can download or print current or past-year PDFs of 565 Schedule K-1 directly from TaxFormFinder. You can print other California tax forms here.

Related California Corporate Income Tax Forms:

TaxFormFinder has an additional 174 California income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the California 565 Schedule K-1.

Form Code Form Name
Form 565 Schedule D Capital Gain or Loss
Form 565 Schedule EO Pass-Through Entity Ownership

Download all CA tax forms View all 175 California Income Tax Forms


Form Sources:

California usually releases forms for the current tax year between January and April. We last updated California 565 Schedule K-1 from the Franchise Tax Board in March 2021.

Show Sources >

565 Schedule K-1 is a California Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

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 California 565 Schedule K-1

We have a total of ten past-year versions of 565 Schedule K-1 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2020 565 Schedule K-1

2020 California Schedule K-1 (565) Partner’s Share of Income, Deductions, Credits, etc.

2019 565 Schedule K-1

2019 California Schedule K-1 (565) Partner’s Share of Income, Deductions, Credits, etc.

2018 565 Schedule K-1

2018 Schedule K-1 (565) - Partner’s Share of Income, Deductions, Credits, etc.

2017 565 Schedule K-1

2017 Schedule K-1 (565) - Partner’s Share of Income, Deductions, Credits, etc.

2016 565 Schedule K-1

2016 Form 565 K-1 - Partner's Share of Income, Deductions, Cresits, etc.

Partner's Share of Income, Deductions, Credits, etc. (Fill-in) 2015 565 Schedule K-1

2015 Schedule K-1 (565) -- Partner's Share of Income, Deductions, Credits, etc.

Partner's Share of Income, Deductions, Credits, etc. 2014 565 Schedule K-1

2014 Schedule K-1 (565) -- Partner's Share of Income, Deductions, Credits, etc.

Partner's Share of Income, Deductions, Credits, etc. 2013 565 Schedule K-1

2013 Schedule K-1 (565) -- Partner's Share of Income, Deductions, Credits, etc.

2012 565 Schedule K-1

2012 Schedule K-1 (565) -- Partner's Share of Income, Deductions, Credits, etc.

2011 California Schedule K-1 (565) 2011 565 Schedule K-1

2011 Schedule K-1 (565) -- Partner's Share of Income, Deductions, Credits, etc.


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