North Dakota Form 60-K1 - Shareholder's Share of ND Income, Deductions, Adjustments, Credits

Form 60-K1 - Shareholder's Share of ND Income, Deductions, Adjustments, Credits 
Schedule K-1 (Form 60) (2023)
SCHEDULE K-1 (FORM 60)

OFFICE OF STATE TAX COMMISSIONER
SFN 28738 (12-2023)
Final

Amended

2023

Corporation's tax year:
Calendar year 2023 (Jan. 1 - Dec. 31, 2023)

9. Employer internship program credit

Fiscal year: Beginning _________, 2023, Ending _________, 20____

Shareholder's Share of North Dakota Income (Loss),
Deductions, Adjustments, Credits, and Other Items
See separate instructions

Part 1

10. Research expense credit
11. a. Endowment fund credit (Schedule QEC)
b. Contribution amount (Schedule QEC)
c. Endowment fund credit (ND Schedule K-1)

Corporation information

d. Contribution amount (ND Schedule K-1)

A Corporation's federal EIN

12. Workforce recruitment credit
13. Wages paid to mobilized employee credit

B Corporation's name, address, city, state, and ZIP code

14. Nonprofit private primary school credit
15. Nonprofit private high school credit

Part 2

16. Nonprofit private college credit

Shareholder information

17. Angel investor credit (for investments
made after June 30, 2017)

C Shareholder's SSN or FEIN (from Federal Schedule K-1)

18. Automation credit
D Shareholder's name, address, city, state, and ZIP code
(from Federal Schedule K-1)

19. Develop. disabled/mentally ill employee credit
20. Maternity home, child placing agency, or
pregnancy help center credit
21. Apprentice tax credit

E What type of entity is this shareholder? ____________________________

Part 4

F If shareholder is an individual, estate, or trust, shareholder is a:
Full-year resident of North Dakota

Part-year resident
of North Dakota

Full-year nonresident of North Dakota
G Is this an eligible nonresident shareholder who
elected to be included in a composite filing?

Yes

H Shareholder's percentage of stock ownership for tax year
(from Federal Schedule K-1) : ____________%

Part 3

All shareholders:
North Dakota adjustments and tax credits

No

Nonresident individual, estate, or trust
shareholder: North Dakota income (loss)

22. Corporation's apportionment factor
23. Ordinary income (loss)
24. Net rental real estate income (loss)
25. Other net rental income (loss)
26. Interest income
27. Ordinary dividends
28. Royalties
29. Net short-term capital gain (loss)

1. Interest from U.S. obligations
2. Renaissance zone income exemption
3. New or expanding business exemption
4. Renaissance zone:
a. Historic property preservation credit
b. Renaissance fund organization credit
c. Nonparticipating property owner credit

30. Net long-term capital gain
31. Net section 1231 gain (loss)
32. Other income
33. Section 179 deduction
34. Other deductions
35. I.R.C. § 179 property disposition gain (loss)

All nonresident shareholders: North Dakota
income tax withheld or composite tax paid

5. Seed capital investment credit

Part 5

6. Agricultural commodity processing
facility investment credit

36. ND distributive share of income (loss)

7. Biodiesel/green diesel fuel blending credit
8. Biodiesel/green diesel fuel sales equipment
credit

37. North Dakota income tax withheld
38. North Dakota composite income tax

2023 Schedule K-1 Instructions for Shareholder
SFN 28738 (12-2023), Page 2

Purpose of form

North Dakota Schedule K-1 (Form 60)
is a supplemental schedule provided by
an S corporation to its shareholders. It
provides information the shareholders
may need to complete their North Dakota
income tax returns.
Resident individual, estate, and
trust. If you are a North Dakota resident
individual, estate, or trust, your entire
distributive share of income from the
corporation is subject to North Dakota
income tax. You received this schedule
only to show your distributive share of
the corporation’s North Dakota statutory
adjustments and tax credits (see Part 3).
Nonresident individual, estate, or
trust. If you are a nonresident individual,
estate, or trust, you are subject to
North Dakota income tax on your
distributive share of the corporation’s
income that is apportioned and allocated
to North Dakota. You received this
schedule to show your distributive share
of North Dakota income, gains, losses,
and deductions (see Part 4); North Dakota
statutory adjustments and tax credits
(see Part 3); and North Dakota income
tax withheld or paid on your North Dakota
distributive share of income (see Part 5).

General instructions

The instructions for Parts 3 through 5 of
this schedule show where to report the
information from Schedule K-1 (Form 60)
on your North Dakota income tax return.
Tax year. References to a North Dakota
form and line number contained in these
instructions are references to the form in
use for the 2023 calendar year. However,
if you file your return on a calendar year
basis, but the corporation files its return
on a fiscal year basis, report the amounts
on your return for the year in which the
corporation’s fiscal year ends. For example,
if the corporation has a fiscal year ending
in February 2024, report the amounts from
the 2023 Schedule K-1 (Form 60) on your
2024 tax return. The corporation’s tax year
is shown at the top of the schedule.
Composite filing election. If you elected
to include your North Dakota distributive
share of income in a composite filing
by the corporation, the information
provided on the schedule is only for your
information. Retain the schedule for your
tax records. The composite income tax
paid by the corporation satisfies your
North Dakota income tax filing and
payment obligations with respect to your
North Dakota distributive income from the
corporation. If you later choose to revoke
your composite filing election and file your
own North Dakota income tax return,
follow the instructions to Parts 3 through 5
to transfer the amounts from the schedule
to your return.

Amended Schedule K-1 (Form 60).
If you receive an amended North Dakota
Schedule K-1 from the corporation,
you generally must file an amended
North Dakota income tax return to report
the revised information. Attach a copy
of the amended Schedule K-1 to your
amended North Dakota income tax return.
If you previously elected to be included in a
composite filing, and you are not changing
that election, no action is required and you
should retain the amended Schedule K-1
for your tax records.

Specific instructions
Part 3

All shareholders–North Dakota
adjustments and tax credits
The following lists show where to enter
an amount from Part 3 of Schedule K-1
(Form 60) on the North Dakota income tax
return. Use the list corresponding to your
return. “Not applicable” in the right-hand
column means that the item does not apply
and must not be entered on your return.

Lines 1–21

Form ND-1 filer:
Include the amount
from this schedule	
	
	
	
	
	
	
	
	
	
	
	
	
	
	

Line
Line
Line
Line
Line
Line
Line
Line
Line
Line
Line
Line
Line
Line

1	
2	
3	
4a	
4b	
4c	
5	
6	
7	
8	
9	
10	
11a	
11b	

	 Line 11c	
	 Line 11d	
	
	
	
	
	
	
	
	
	
	

Line
Line
Line
Line
Line
Line
Line
Line
Line
Line

12	
13	
14	
15	
16	
17	
18	
19	
20	
21	

On:

Form ND-1, line 5
Sch. RZ, Part 1, line 18
Form ND-1SA, line 5
Sch. RZ, Part 4, line 7
Sch. RZ, Part 5, line 4
Sch. RZ, Part 6, line 6
Sch. ND-1TC, line 4
Sch. ND-1TC, line 3
Sch. ND-1TC, line 6
Sch. ND-1TC, line 7
Sch. ND-1TC, line 8a
Sch. ND-1TC, line 9a
Sch. ND-1TC, line 15b
See instructions to 	
Form ND-1, line 2
Sch. ND-1TC, line 15b
See instructions to 	
Form ND-1, line 2
Sch. ND-1TC, line 11a
Sch. ND-1TC, line 13
Sch. ND-1PSC, line 4
Sch. ND-1PSC, line 13
Sch. ND-1PSC, line 22
Sch. ND-1TC, line 21
Sch. ND-1TC, line 17a
Sch. ND-1TC, line 22
Sch. ND-1TC, line 24
Sch. ND-1TC, line 25a

Form 38 filer:
Include the amount
from this schedule	

On:

	 Line 1	
Form 38, page 2,
			 Part 1, line 4a
	 Line 2	
Sch. RZ, Part 1, line 18
	 Line 3		 Form 38, page 2,
			 Part 1, line 4d
	 Line 4a	
Sch. RZ, Part 4, line 7
	 Line 4b	
Sch. RZ, Part 5, line 4
	 Line 4c	
Sch. RZ, Part 6, line 6
	 Line 5	
Sch. 38-TC, line 3
	 Line 6	
Sch. 38-TC, line 2
	 Line 7	
Sch. 38-TC, line 4
	 Line 8	
Sch. 38-TC, line 5
	 Line 9	
Sch. 38-TC, line 6a
	 Line 10	
Sch. 38-TC, line 7a
	 Line 11a	
Sch. 38-TC, line 12c
	 Line 11b	
Form 38, page 2,
			 Part 1, line 2
	 Line 11c	
Sch. 38-TC, line 12c
	 Line 11d	
Form 38, page 2,
			 Part 1, line 2
	 Line 12	
Sch. 38-TC, line 9a
	 Line 13	
Sch. 38-TC, line 11
	 Line 14	
Sch. 38-TC, line 15
	 Line 15	
Sch. 38-TC, line 16
	 Line 16	
Sch. 38-TC, line 17
	 Line 17	
Not applicable
	 Line 18	
Sch. 38-TC, line 14a
	 Line 19	
Sch. 38-TC, line 18
	 Line 20	
Sch. 38-TC, line 19
	 Line 21	
Sch. 38-TC, line 20a

Part 4

Nonresident individual, estate,
or trust shareholders only–
North Dakota income (loss)
Line 22

The apportionment factor is used to
determine the North Dakota apportioned
income.

Lines 23-35

If you are a nonresident individual, estate,
or trust, lines 23 through 35 of Part 4
show your share of the corporation’s
North Dakota income, gains, losses, and
deductions that you must report on your
North Dakota income tax return. Transfer
these amounts to your North Dakota
income tax return as instructed below
based on the type of return you are filing.
If the full amount of any item is not
included in your adjusted gross income on
your federal income tax return because of
limitations on the deductibility of a passive
activity loss, capital loss, section 179
deduction, or for any other reason, enter
on your North Dakota return only that
portion of the item included in your federal
adjusted gross income.
Attach a statement to your
North Dakota income tax return
explaining any difference between
an amount shown on North Dakota
Schedule K‑1 (Form 60) and the
amount reported on your North Dakota
income tax return.

2023 Schedule K-1 Instructions for Shareholder
SFN 28738 (12-2023), Page 3
Form ND-1 filer (nonresident only):
Include the
amount from	
On Schedule ND-1NR,
this schedule:	
Column B:
	
	
	
	
	
	
	

Lines 23-25	
Lines 26-27	
Line 28	
Lines 29-31	
Line 32	
Lines 33-34	
Line 35	

Line
Line
Line
Line
Line
Line
Line

6
2
6
4
8
6
4

Form 38 filer (nonresident only):
Include the	
On Tax Computation
amount from	
Schedule, Part 2,
this schedule:	
Column B:
	
	
	
	
	
	
	
	
	

Lines 23-25	
Line 26	
Line 27	
Line 28	
Lines 29-30	
Line 31	
Line 32	
Lines 33-34	
Line 35	

Line
Line
Line
Line
Line
Line
Line
Line
Line

5
1
2
5
4
4 or 7
8
5
4 or 7

Part 5

Nonresident shareholders only

Attach a copy of North Dakota
Schedule K-1 (Form 60) to your
return.

Line 36

Line 38

This is the net amount of your
North Dakota distributive share of income
(loss) from the corporation. Do not enter
the amount from this line anywhere on
your return. It is for your information
only.

Line 37

This is the amount of North Dakota income
tax withheld by the corporation from your
North Dakota distributive share of income.
Enter this amount on your return as
follows:
		 If an individual, enter on Form ND-1,
line 26.
		 If an estate or trust, enter on Form 38,
page 1, line 8.
		 If a partnership, enter on Form 58,
page 1, line 4.
		 If an S corporation, enter on Form 60,
page 1, line 5.

If you elected to include your North Dakota
distributive share of income (loss) in a
composite filing, this is the amount of
North Dakota composite income tax paid
on your behalf by the corporation. For
more information, see “Composite filing
election” on page 1 of these instructions.
Note: If you later choose to file your
own North Dakota income tax return, you
may claim this amount as a tax payment
on your return. Attach a copy of the
North Dakota Schedule K-1 (Form 60) to
your return to support the amount claimed.