Hawaii Partner's Share of Income, Credits, Deductions, etc (Rev. 2016)

Partner's Share of Income, Credits, Deductions, etc (Rev. 2016)
Schedule K-1, Form N-20, Rev. 2022, Partner's Share of Income, Credits, Deduction, Etc.
Clear Form

SCHEDULE K-1
FORM N-20
(REV. 2023)

PREPARE IN TRIPLICATE
For EACH Partner
Copy 1	
File with N-20
Copy 2	
Partnership Copy
Copy 3	
Partner's Copy

PARTNER’S SHARE OF INCOME, CREDITS,
DEDUCTIONS, ETC.
For calendar year 2023 or other tax year
, 2023 and ending 	

beginning	

, 20	

N20SCHK1_I 2023A 01 VID01

Partner’s Social Security No. or Federal Employer I.D. No. †	

Partnership’s Federal Employer Identification No. †

Partner’s name, address, and Postal/ZIP Code	

Partnership’s name, address, and Postal/ZIP Code

A	

This partner is a     general partner     limited partner
 LLC member-manager    other LLC member

B	
	

What type of entity is this partner?  †	
If the partner is a disregarded entity (DE), enter the partner’s:
FEIN ____________________ Name 	

C	

G	

D	

Partner’s share of liabilities:
Nonrecourse............................................................ $	
Qualified nonrecourse financing.............................. $	
Other........................................................................ $	

E	

Check here if this partnership is a publicly traded partnership
as defined in IRC section 469(k)(2)......... 

F	

Check applicable boxes:

 

(i) Before
change
or termination

(ii) End of
year

Enter partner’s percentage of:
Profit sharing............................................__________%_________%
Loss sharing.............................................__________%_________%
Ownership of capital................................__________%_________%
Reconciliation of partner’s capital account:
(a) Capital account at
beginning of year

2023

STATE OF HAWAII — DEPARTMENT OF TAXATION

(b) Capital contributed
during year

(c) Income included in
column (c) below, plus
nontaxable income

(d) Deductions included
in col. (c) below, plus
unallowable deductions

(1)



Final K-1

(2)



Amended K-1

(f) Capital account
at end of year (combine
columns (a) through (e))

(e) Withdrawals and
distributions

(	) (	)
Caution:  Refer to Partner’s Instructions for Schedule K-1 (Form N-20) before entering information from this schedule on your tax return.

Credits

Deductions

Income (Loss)

(a) Distributive share items

(b) Attributable to
Hawaii

	 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 partner.....................................................
	 5	Interest.............................................................................................
	 6	 Ordinary Dividends..........................................................................
	 7	 Royalties..........................................................................................
	 8	 Net short-term capital gain (loss).....................................................
	 9	 Net long-term capital gain (loss)......................................................
	10	 Net IRC section 1231 gain (loss) (attach Schedule D-1)...................	
	11	 Other income (loss) (attach schedule).............................................
	12	 Charitable contributions (attach schedule)......................................
	13	 Expense deduction for recovery property
(IRC section 179) (attach schedule)................................................
	14	 Deductions related to portfolio income (attach schedule)................
	15	 Other deductions (attach schedule).................................................
	16	 Total cost of qualifying property for the
Capital Goods Excise Tax Credit.....................................................
	17	 Fuel Tax Credit for Commercial Fishers..........................................
	18	 Amounts needed to claim the Enterprise Zone Tax Credit ............. See attached Form N-756A
	19	 Hawaii Low-Income Housing Tax Credit..........................................
	20	 Credit for Employment of Vocational Rehabilitation Referrals.........
	21	 Total qualified production costs for the Motion Picture, Digital
Media, and Film Production Income Tax Credit...............................	

ID NO 01

(c) Attributable
Everywhere

(d) Form N-11 & N-15 filers
enter the amount in column (b)
and /or column (c) on:
	
See Partner’s Instructions
for Schedule K-1
(Form N-20)

}

	 Interest Worksheet
	 See Partner’s Instructions for

}

Schedule K-1 (Form N-20).
Capital Gain/Loss Worksheet
Capital Gain/Loss Worksheet
See Partner’s Instr. for Sch. K-1 (Form N-20).

}

Enter on applicable line of your return.

	

See Partner’s Instructions
for Schedule K-1
(Form N-20)

Enter on applicable line of your return.

Form N-312
Form N-163
Form N-756
Form N-586
Form N-884
Form N-340
SCHEDULE K-1 FORM N-20 (Rev. 2023)

Schedule K-1 (Form N-20) (REV. 2023)	

Other

Recapture of Tax
Credits

Investment
Interest

Credits (cont.)

(a) Distributive share items

Page 2
(b) Attributable to
Hawaii

	22	 Credit for School Repair and Maintenance......................................	
	23	 Renewable Energy Technologies Income Tax Credit...................... See attached Form N-342A
	24	 Important Agricultural Land
Qualified Agricultural Cost Tax Credit..............................................
	25	 Tax Credit for Research Activities....................................................
	26	 Historic Preservation Income Tax Credit..........................................
	27	 Renewable Fuels Production Tax Credit for Years After 12/31/21...
	28	 Pass-Through Entity Tax Credit.......................................................
	29	 Credit for income tax withheld on
Form N-288A (net of refunds)..........................................................
	30	 a	 Interest expense on investment debts.........................................
		b	(1)	 Investment income included on
			 Schedule K-1, lines 5 through 7............................................
			 (2)	 Investment expenses included in
			 Schedule K-1, line 14............................................................
	31	 Recapture of Hawaii Low-Income Housing Tax Credit
a	 From IRC section 42(j)(5) partnerships.......................................
		b	 Other than on line 31a.................................................................
	32	 Capital Goods Excise Tax Credit Properties....................................  See attached Form N-312, Part II
	33	 Recapture of Tax Credit for Flood Victims....................................... 
	34	 Recapture of Important Agricultural Land
Qualified Agricultural Cost Tax Credit..............................................
	35	 Recapture of Capital Infrastructure Tax Credit.................................
	36	 Recapture of Historic Preservation Income Tax Credit....................
	37	 List below other items and amounts not included on
lines 1 through 36 that are required to be reported
separately to each partner...............................................................

Other Information Provided by Partnership:

(c) Attributable
Everywhere

(d) Form N-11 & N-15 filers
enter the amount in column (b)
and /or column (c) on:
Form N-330
Form N-342
Form N-344
Form N-346
Form N-325
Form N-360
Form N-362
Schedule CR, line 9a
Form N-158, line 1

}
}

See Partner’s Instructions
for Schedule K-1
(Form N-20)

	 Form N-586, Part III

Form N-312, Part II
Form N-338
Form N-344
Form N-348
Form N-325
	

See Partner’s Instructions for
Schedule K-1 (Form N-20).