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Iowa Iowa Partnership Return of Income 41-016
Extracted from PDF file 2023-iowa-form-ia-1065.pdf, last modified July 2022Iowa Partnership Return of Income 41-016
2023 IA 1065 Iowa Partnership Return of Income tax.iowa.gov For Calendar Year 2023 or other fiscal year to M M D D Y Check all that apply: Y Y Y Amended Return (Include IA 102) M M D D Short Period Y Y Y Y Final Return Part 1: Partnership Name and Address Doing Business As Legal Name Address Federal Employer Identification Number (FEIN) Address 2 City State Principal activity ZIP County No. Total number of partners Number of Iowa resident partners Number of Iowa nonresident partners NAICS Code List other states in which the partnership operates: Part 2: Pass-through Representative Name Designated individual (if rep. is an entity) Address Address 2 City State 41-016a (08/04/2023) ZIP Phone 2023 IA 1065, page 2 Partnership Name FEIN Part 3: Partnership Information Partnership Type of Entity Limited Liability Partnership Limited Liability Company Yes a. Partnership Activities i. Does the partnership have income/loss from business activities carried on within Iowa?.............. ii. Is any of the partnership’s income/loss from real property within Iowa?....................................... iii. Does the partnership’s income/loss come from any activity other than interest, dividends, or capital gain from the sale of stocks or bonds?..................................................... No b. Composite Return Requirement. Does the partnership have any of the following in the tax year: If you answered yes to any of “i” through “v” in question “b,” see instructions. Other Yes No i. A nonresident individual as a partner?.................... ii. An estate or trust without a situs in Iowa as a partner?........................................................... iii. A C or S corporation without a commercial domicile in Iowa as a partner?................................. iv. A partnership without a commercial domicile in Iowa as a partner?................................................... v. A composite credit received from another entity on an Iowa K-1?”..................................................... Yes c. Is this a publicly traded partnership? d. Is this partnership reporting income from disregarded entities? If yes, include Schedule DE with this return. e. Has federal income or tax changed for any prior period(s) during the year? No Prior period(s) if yes: Part 4: Partnership Distributive Items for Iowa Tax Purposes 1. Total ordinary income (loss) from federal form 1065, line 8................................... 2. Total deductions from federal form 1065, line 22................................................... 3. Ordinary business income (loss) from federal form 1065, line 23.......................... 41-016b (08/04/2023) Enter Dollars and Cents 1 00 2 00 3 00 2023 IA 1065, page 3 FEIN Partnership Name Enter Dollars and Cents 4. Net rental real estate income (loss) from federal Schedule K, line 2..................... 5. Other net rental income (loss) from federal Schedule K, line 3c............................ 6. Total guaranteed payments from federal Schedule K, line 4c................................ 7. Interest income from federal Schedule K, line 5.................................................... 8. Dividends from federal Schedule K, line 6a........................................................... 9. Royalties from federal Schedule K, line 7.............................................................. 10. Net short-term capital gains (loss) from federal Schedule K, line 8....................... 11. Net long-term capital gains (loss) from federal Schedule K, line 9a...................... 12. Net section 1231 gains (loss) from federal Schedule K, line 10............................. 13. Other income (loss) from federal Schedule K, line 11............................................ 14. Total federal Schedule K income (loss). Add lines 3 through 13..................... 15. Section 179 deduction from federal Schedule K, line 12....................................... 16. Other deductions from federal Schedule K. See instructions................................. 17. Total qualifying federal Schedule K deductions. Add lines 15 and 16.................... 18. Net federal Schedule K income (loss). Subtract line 17 from line 14................. 19. Iowa additions from Schedule A............................................................................. 20. Iowa reductions from Schedule A........................................................................... 21. Net Iowa modifications. Subtract line 20 from 19.................................................. 22. All-source partnership distributive items for Iowa tax purposes. Add lines 18 and 21............................................................................................... 23. Nonbusiness income. Include Schedule D............................................................. 24. Income subject to apportionment. Subtract line 23 from 22................................... 25. Iowa BAR from Schedule E.................................................................................... 26. Income apportioned to Iowa. Multiply line 24 by line 25......................................... 27. Iowa nonbusiness income. Include Schedule D..................................................... 28. Iowa-source partnership distributive items. Add lines 26 and 27..................... 41-016c (08/04/2023) 4 00 5 00 6 00 00 7 00 8 00 9 00 10 00 11 00 12 00 13 00 14 00 15 00 16 00 17 00 18 00 19 00 20 00 21 00 22 00 23 00 24 00 25 % 26 00 27 00 28 00 2023 IA 1065, page 4 FEIN Partnership Name Enter Dollars and Cents Part 5: Pass-through entity tax (PTET) election Check this box and complete Part 5 only if the partnership has elected, or is electing, to be taxed at the entity level under Iowa Code section 422.16C for this tax year. A PTET election is irrevocable and must be made by the due date for filing your return, including extensions. 29. Gross Iowa PTET. Multiply Part 4, line 28, by the applicable tax rate. See instructions...................................................................................................... 29 00 30. Franchise tax credit. If you are a financial institution, enter the amount from your 2023 IA 1120F, line 14. If zero or less, enter zero.......................................... 30 00 31 00 31. Net Iowa PTET. Subtract line 30 from line 29. If zero or less, enter zero............... Part 6: Audit election to pay Check this box if this is an amended return and the partnership is making an irrevocable election to pay on behalf of its partners from a federal or Iowa audit. If checked, include the IA 103 with your return......................................................................... 32 00 33 00 34 00 35 00 36 00 37 00 38 00 39. Late filing penalty. You may owe a late filing penalty even if you have no tax due. See instructions................................................................................... 39 00 40. Underpayment of estimated tax penalty related to net Iowa PTET in Part 5. Include IA 2220. 40 00 41. TOTAL AMOUNT DUE. Add lines 36 through 40. If negative (overpayment), go to line 42............................................................................................................ 41 00 42 00 43 00 44 00 32. Audit election to pay tax. Enter the amount from the IA 103, line 26..................... Part 7: Total tax, penalty, and interest due 33. Total tax. Add Part 5, line 31, and Part 6, line 32.................................................. 34. Composite and PTET credits. Include Schedule CC............................................. 35. Payments from Schedule C................................................................................... 36. Tentative amount due (or overpayment). Subtract lines 34 and 35 from line 33..................................................................... 37. Interest................................................................................................................... 38. Late payment penalty............................................................................................. 42. Report negative amount (overpayment) from line 41 as positive amount.............. 43. Overpayment on line 42 to be applied to next period’s return................................ 44. Overpayment on line 42 to be REFUNDED. Subtract line 43 from line 42............ 44a. Routing number 41-016d (08/04/2023) 44c. Account number 44b. Savings Checking 2023 IA 1065, page 5 FEIN Partnership Name Schedule A - Additions and Reductions Additions Type of Income 1. RESERVED FOR FUTURE USE............................................ 2. RESERVED FOR FUTURE USE............................................ 3. RESERVED FOR FUTURE USE............................................ 4. Interest Expense Adjustments from IA 163............................. 5. Qualifying Iowa COVID-19 Grants.......................................... 6. Expensing/Depreciation Adjustment from IA 4562A................ 7. Tax Exempt Interest and Dividends. See instructions............. 8. RESERVED FOR FUTURE USE............................................ 9. RESERVED FOR FUTURE USE............................................ 10. RESERVED FOR FUTURE USE............................................ 11. Federal Securities Interest and Dividends. See instructions... 12. Nonconformity Adjustments from IA 101. See instructions...... 13. Charitable contribution adjustment from Iowa credit............... 14. All-source PTE modifications from Iowa K-1s......................... 15. Other. Must include schedule.................................................. 16. Totals. Add lines 1 through 15................................................. Reductions 1 2 3 4 00 00 5 6 00 7 00 00 8 9 10 00 11 00 12 00 13 00 14 00 00 15 00 00 16 00 00 Enter total on part 4, line 19. 41-016e (08/04/2023) 00 Enter total on part 4, line 20. 2023 IA 1065, page 6 Partnership Name FEIN Schedule B – Iowa Tax credits reported to partners on 2023 IA 1065 K-1s (except composite and PTET credits) Iowa Tax Credit Code Certificate Number (if applicable) Amount 00 00 Earned by entity 00 00 00 00 From other PTEs on K-1s 00 00 00 Total.................... Schedule C: Payments 1. Estimated Tax Payments a. Credit from prior period.................................................................................................... b. First quarter...................................................................................................................... c. Second quarter................................................................................................................. d. Third quarter..................................................................................................................... e. Fourth quarter................................................................................................................... f. Other................................................................................................................................ 2. Voucher Payment......................................................................................................................... 3. Other Payments. Include statement............................................................................................. 4. Total. Add lines 1-3. Enter on Main Return, Part 7, line 35........................................................... 41-016f (08/04/2023) a 00 b 00 c 00 d 00 e 00 f 00 2 00 3 00 4 00 2023 IA 1065, page 7 Partnership Name FEIN Schedule E - Business Activity Ratio (BAR) (see instructions.) Must be completed. Column A Iowa Receipts Type of Income 1a. Gross receipts from sale of tangible personal property........... 1b. Gross receipts from performance of services.......................... 1c. Gross receipts from railroad, trucking, aviation, or other transportation activities............................................................ 1d. Gross receipts from telecommunication services.................... 1e. Gross receipts from radio and television broadcasts.............. 1f. Gross receipts from printed and electronic media................... 1g. Gross receipts from utilities services....................................... 1h. Gross receipts from financial activities.................................... 2. Net dividends (see instructions).............................................. 3. Exempt interest....................................................................... 4. Accounts receivable interest................................................... 5. Other interest........................................................................... 6. Rent......................................................................................... 7. Royalties.................................................................................. 8. Capital gain/(loss).................................................................... 9. Ordinary gains/(loss)............................................................... 10. Partnership gross receipts. Include schedule.......................... 11. Other. Must Include schedule.................................................. 12. TOTALS. Add lines 1 through 11............................................. Column B Receipts Everywhere 1a 00 00 1b 00 00 1c 00 00 1d 00 00 1e 00 00 1f 00 00 1g 00 00 1h 00 00 2 00 00 3 00 00 4 00 00 5 00 00 6 00 00 7 00 00 8 00 00 9 00 00 10 00 00 11 00 00 12 00 00 13. BAR. Divide line 12, column A, by line 12, column B. Round to the nearest ten-thousandth of a percent. For example, 0.1234505 becomes 12.3451%..... 41-016g (08/04/2023) 13 . 0 0 0 0 % 2023 IA 1065, page 8 Partnership Name FEIN Iowa Schedule K – Distributive Share Items (a) Federal/All-source amount Income/Adjustments (b) Amount subject to apportionment from Part 4, line 24 (c) Business Activity Ratio from Sch. E (d) Iowa apportioned amount (column b x c) 1. Ordinary business income/(loss)........................... 1 00 00 00 2. Net rental real estate income/(loss)........................... 2 00 00 00 3. Other net rental income/(loss)................. 3 00 00 00 4. Total guaranteed payments for services............. 4 00 00 00 5. Total guaranteed payments for capital................ 5 00 00 00 6. Interest income........................ 6 00 00 00 7. Dividends................................. 7 00 00 00 8. Royalties.................................. 8 00 00 00 9. Net short-term capital gain/(loss).................... 9 00 00 00 10. Net long-term capital gain/(loss).................... 10 00 00 00 11 00 00 00 12 00 00 00 00 00 00 13 00 00 00 14 00 00 00 15 00 00 00 16. Investment interest expense................................... 16 00 00 00 17. Section 59(e)(2) expenditures............................ 17 00 00 00 18. Other deductions. See instructions....................... 18 00 00 00 Total deductions. Add lines 13 through 18................ 00 00 00 Balance. Total income minus total deductions................. 00 00 00 19. Iowa Modifications from Part 4, line 21.......................... 19 00 00 00 11. Net section 1231 gain/(loss).... 12. Other income/(loss)................. Total Income. Add lines 1 through 12.................. 13. Section 179 deduction............. 14. Cash contributions................... 15. Noncash contributions............. 20. Iowa allocated income, Part 4, line 27................................................................................................................................................... 20 00 21. Iowa Composite tax paid for partners with PTE-C......................................................................................................................................... 21 00 22. Iowa PTET credits reported to partners. Multiply the amount on Part 5, line 31 by 94% (.94). See instructions................................................................................................................................................ 22 00 41-016h (08/04/2023) 2023 IA 1065, page 9 Partnership Name FEIN File electronically. A complete copy of your federal return must be filed with this return, not including federal K-1s Third Party Disclosure Designee. Do you want to allow an individual to discuss this return with the Department? See instructions. Designee’s Name Mailing address ID Number (optional) City State ZIP Designee’s phone number Email I, the undersigned, declare under penalties of perjury or false certificate, that I have examined this return, and, to the best of my knowledge and belief, it is true, correct, and complete. I declare that I am authorized to act on behalf of the taxpayer, and will only act within my authority. Paper-filed returns must be signed by hand or via a digital signature with a digital certificate. Stampled or typed signatures are not accepted. Partner/Member or Pass-through Representative’s name (Printed) Title Phone Partner/Member or Pass-through Representative’s signature Sign Here Date M Signature of preparer if other than taxpayer Sign Here M D D Y Y Y Y D D Y Y Y Y Date M Preparer’s Name (printed) M Preparer’s phone number Preparer’s Address Preparer’s PTIN City State To obtain schedules visit: visit tax.iowa.gov Tax Research Library: itrl.idr.iowa.gov/ Questions: 515-281-3114 or 800-367-3388 41-016i (08/04/2023) ZIP Email: [email protected] (do not email your return) eFile or mail your return to: Income Tax Return Processing Iowa Department of Revenue PO Box 9187 Des Moines IA 50306-9187
IA 1065 Partnership Return of Income (41016)
More about the Iowa Form IA 1065 Corporate Income Tax Tax Return TY 2023
We last updated the Iowa Partnership Return of Income 41-016 in January 2024, so this is the latest version of Form IA 1065, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form IA 1065 directly from TaxFormFinder. You can print other Iowa tax forms here.
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TaxFormFinder has an additional 43 Iowa income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Iowa Form IA 1065.
| Form Code | Form Name |
|---|---|
| Form IA 1065 Schedule K1 | Partnership Schedule K-1 - 41-018 |
View all 44 Iowa Income Tax Forms
Form Sources:
Iowa usually releases forms for the current tax year between January and April. We last updated Iowa Form IA 1065 from the Department of Revenue in January 2024.
Form IA 1065 is an Iowa Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.
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 Iowa Form IA 1065
We have a total of twelve past-year versions of Form IA 1065 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form IA 1065
IA 1065 Partnership Return of Income (41016)
2022 Form IA 1065
IA 1065 Partnership Return of Income (41016)
2021 Form IA 1065
IA 1065 Partnership Return of Income, 41-016
2020 Form IA 1065
IA 1065 Partnership Return of Income, 41-016
2019 Form IA 1065
IA 1065 Partnership Return of Income, 41-016
2018 Form IA 1065
IA 1065 Partnership Return of Income, 41-016
2017 Form IA 1065
IA 1065 Partnership Return of Income, 41-016
2016 Form IA 1065
42004-MeF.PMD
2015 Form IA 1065
42004-MeF.PMD
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