Pennsylvania PA Schedule A - Interest Income
Extracted from PDF file 2019-pennsylvania-form-pa-20s-pa-65-a.pdf, last modified June 2012
PA Schedule A - Interest IncomePA SCHEDULE A 1908610056 Interest Income PA-20S/PA-65 A (PT) 08-19 (FI) PA Department of Revenue START 2019 Name as shown on PA-20S/PA-65 Information Return OFFICIAL USE ONLY FEIN 9 DIGIT - NO DASH ➜ If a loss, enter "0" See the PA-20S/PA-65 Schedule A instructions on the department’s website. 1 Interest income from federal Schedule K 1 2 Less business or rental interest income (working capital) - report on PA-20S/PA-65 Schedule M, Part I 2 3 Adjusted federal interest income – subtract Line 2 from Line 1 3 4 Federal-exempt interest income taxable for PA PIT – itemize below 4 5 Other interest income not included on Line 3 and Line 4 5 6 Gross PA interest income – add Lines 3 through 5 6 7 PA-exempt interest income included on Line 6 – itemize below PA-taxable interest income – subtract Line 7 from Line 6. Enter the result on the PA-20S/PA-65 Information Return, Page 1, Section III, Line 3. 7 8 8 Federal-exempt interest income – list sources and amounts PA-exempt interest income – list sources and amounts 1908610056 Reset Entire Form 1908610056 TOP OF PAGE PRINT THIS PAGE DOES NOT PRINT Pennsylvania Department of Revenue 2019 Instructions for PA-20S/PA-65 Schedule A Interest Income PA-20S/PA-65 A IN (PT) 08-19 GENERAL INFORMATION PURPOSE OF SCHEDULE Use PA-20S/PA-65 Schedule A to report interest income of PA S corporations, partnerships and limited liability companies filing as partnerships or PA S corporations for federal income tax purposes. See PA Personal Income Tax Guide – Interest. The entity must report interest it received for the use of its money that it does not include in another income class. Do not report interest from obligations that are statutorily free from Pennsylvania tax. Interest reported on the PA-20S/PA-65 Information Return and PA-20S/PA-65 Schedule A is total interest earned by the entity itself. There is no need to distinguish between resident and nonresident portions since interest is not a class of income on the PA-20S/PA-65 Schedule NRK-1. For Pennsylvania personal income tax purposes, nonresidents are not taxed on ordinary interest from Pennsylvania sources. Interest is ignored by the nonresident unless the entity has reclassified interest on PA-20S/PA-65 Schedule M, Part I and PA-20S/PA-65 Schedule A, Line 2 as working capital, in which case it will be included with business or rental income. PENNSYLVANIA-TAXABLE INTEREST Pennsylvania law (72 P.S. §7303(a)(6)) provides that interest derived from obligations that are not statutorily free from state or local taxation under any other act of the General Assembly of the Commonwealth of Pennsylvania or under the laws of the U.S. is taxable. Include all interest income except: ● Interest derived from purchase money mortgages on real estate or land contracts that the entity includes in determining net gain (loss) from the sale, exchange or disposition of property; ● Interest incidental to the production of rental or royalty income that the entity includes in determining net rent or royalty income; ● Interest that is statutorily free from Pennsylvania tax; ● Interest derived from assets employed as working capital in a business; and ● Interest from accounts and notes receivable from sales of products or services sold in the ordinary course of business that the entity includes in determining net profit (loss) from its business, profession or farm (generally current assets). www.revenue.pa.gov A PA S corporation or partnership cannot assume that an obligation that is exempt from federal income tax is also exempt from Pennsylvania personal income tax. The exclusion for U.S. tax-exempt obligations does not automatically extend to those obligations whose sole statutory basis for exclusion is the Internal Revenue Code. The entity may only deduct forfeited interest penalties from a premature withdrawal of a time deposit against the interest income from that account or certificate. The PA S corporation or partnership cannot offset such interest penalty against other interest income. If the total penalty exceeds the interest on an account or certificate, the entity can report the excess as a loss on PA-20S/PA-65 Schedule D, Part I or PA-20S/ PA-65 Schedule D, Part III, Line 13. For a listing of tax-exempt and taxable obligations, obtain Pennsylvania form REV-1643, Tax Exempt Obligations for Pennsylvania Personal Income Tax Purposes. COMPLETING PA SCHEDULE A BUSINESS NAME Enter the complete name of the entity or business as shown on the PA-20S/PA-65 Information Return. FEIN Enter the nine-digit federal employer identification number (FEIN) of the entity or business as shown on the PA-20S/ PA-65 Information Return. LINE INSTRUCTIONS LINE 1 INTEREST INCOME FROM FEDERAL SCHEDULE K Enter the amount reported on federal Schedule K, Line 5 (federal Form 1065), or Line 4 (federal Form 1120S). This number will also agree to PA-20S/PA-65 Schedule M, Part I, Line 4, Column (a). Include federal Schedule K-1 interest income from other entities. LINE 2 LESS BUSINESS OR RENTAL INTEREST INCOME (WORKING CAPITAL) Enter the amount reported on PA-20S/PA-65 Schedule M, Part I, Line 4, Column (b) and/or Column (f). LINE 3 ADJUSTED FEDERAL INTEREST INCOME Subtract Line 2 from Line 1. Enter the result on Line 3. PA-20S/PA-65 A 1 LINE 4 LINE 7 FEDERAL-EXEMPT INTEREST INCOME TAXABLE FOR PENNSYLVANIA PERSONAL INCOME TAX Enter the tax-exempt interest income amount reported on federal Schedule K, Line 18a (federal Form 1065), or Line 16a (federal Form 1120S), “Tax-exempt interest income.” List the sources and amounts in the spaces provided on the forms. PENNSYLVANIA-EXEMPT INTEREST INCOME INCLUDED ON LINE 6 Enter income reported as federal interest income that has been taxed federally and is exempt for Pennsylvania purposes. This number can be obtained from entity-level books and records. Refer to Pennsylvania form REV-1643, Tax-Exempt Obligations for Pennsylvania Personal Income Tax Purposes. List the sources and amounts in the spaces provided on the form. LINE 5 OTHER INTEREST INCOME NOT INCLUDED ON LINE 3 AND LINE 4 If the entity received interest income reported on a line other than federal 1120S Schedule K, Line 4 or federal 1065 Schedule K, Line 5 then report as interest income for Pennsylvania personal income tax purposes on PA-20S/ PA-65 Schedule A, Line 5. LINE 8 PENNSYLVANIA-TAXABLE INTEREST INCOME Subtract Line 7 from Line 6. Enter the result on Line 8. Enter this amount on the PA-20S/PA-65 Information Return, Page 1, Section III, Line 3. LINE 6 GROSS PENNSYLVANIA INTEREST INCOME Add Lines 3 through 5. Enter the result on Line 6. 2 PA-20S/PA-65 A www.revenue.pa.gov
2019 PA Schedule A - Interest Income (PA-20S/PA-65 A)
More about the Pennsylvania Form PA-20S-PA-65 A Corporate Income Tax TY 2019
We last updated the PA Schedule A - Interest Income in January 2020, so this is the latest version of Form PA-20S-PA-65 A, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form PA-20S-PA-65 A directly from TaxFormFinder. You can print other Pennsylvania tax forms here.
Related Pennsylvania Corporate Income Tax Forms:
TaxFormFinder has an additional 174 Pennsylvania income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Pennsylvania Form PA-20S-PA-65 A.
|Form Code||Form Name|
|Form PA-20S-PA-65||S Corporation/Partnership Information Return (PA-20S/PA-65)|
|Form PA-20S-PA-65 E||PA Schedule E - Rent and Royalty Income (Loss)|
|Form PA-20S-PA-65 M||PA Schedule M - Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss)|
|Form PA-20S-PA-65 RK-1||PA Schedule RK-1 - Resident Schedule of Shareholder/Partner/Beneficiary Pass Through Income, Loss and Credits|
|Form PA-20S-PA-65 NRK-1||PA Schedule NRK-1 - Nonresident Schedule of Shareholder/Partner/Beneficiary Pass Through Income, Loss and Credits|
|Form PA-20S-PA-65 Directory||PA-20S/PA-65 Directory - Partner/Member/Shareholder|
|Form PA-20S-PA-65 B||PA Schedule B - Dividend and Capital Gains Income|
|Form PA-20S-PA-65 CP||PA Schedule CP - Corporate Partner Withholding|
|Form PA-20S-PA-65 D||PA Schedule D - Sale, Exchange or Disposition of Property Within Pennsylvania|
|Form PA-20S-PA-65 H||PA Schedule H - Apportioned Business Income (Loss)/Calculation of PA Net Business Income (Loss)|
Pennsylvania usually releases forms for the current tax year between January and April. We last updated Pennsylvania Form PA-20S-PA-65 A from the Department of Revenue in January 2020.
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 Pennsylvania Form PA-20S-PA-65 A
We have a total of nine past-year versions of Form PA-20S-PA-65 A in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2019 PA Schedule A - Interest Income (PA-20S/PA-65 A)
2018 PA Schedule A - Interest Income (PA-20S/PA-65 A)
2017 PA Schedule A - Interest Income (PA-20S/PA-65 A)
2016 PA Schedule A - Interest Income (PA-20S/PA-65 A)
2015 PA Schedule A - Interest Income (PA-20S/PA-65 A)
2014 PA Schedule A - Interest Income (PA-20S/PA-65 A)
2013 PA Schedule A - Interest Income (PA-20S/PA-65 A)
2012 PA Schedule A - Interest Income (PA-20S/PA-65 A)
2011 PA Schedule A - Interest Income (PA-20S/PA-65 A)
While we do our best to keep our list of Pennsylvania Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.