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Pennsylvania PA Schedule M - Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss)
Extracted from PDF file 2023-pennsylvania-form-pa-20s-pa-65-m.pdf, last modified June 2012PA Schedule M - Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss)
IMPORTANT: FILL IN FORM MUST BE DOWNLOADED ONTO YOUR COMPUTER PRIOR TO COMPLETING 2307010054 PA SCHEDULE M Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss) PA-20S/PA-65 M (DR) MOD 04-23 (FI) PA Department of Revenue START 2023 OFFICIAL USE ONLY FEIN 9 DIGIT - NO DASH Name as shown on PA-20S/PA-65 Information Return PA Sales Tax License Number ➜ PA Schedule M, Part I. Classifying Federal Income (Loss) for PA Personal Income Tax Purposes Classify, without adjustment, the federal income (loss) from Schedule K of federal Form 1120S or from Schedule K of federal Form 1065. The entity must allocate or apportion the amounts from the federal categories to the reportable PA PIT classes. The total of the specific federal line items should equal the total of the federal schedule. Federal Form Form 1120S, Schedule K line description Form 1065, Schedule K line description Classified for Pennsylvania Personal Income Tax purposes (a) Federal Income (loss) (b) PA Business Income (loss) If a loss, enter "0" 1 Ordinary income (loss) from trade or business activities 00 l 00 00 l 00 l l If a loss, enter "0" 00 l If a loss, enter "0" 2 Net income (loss) from rental real estate activities 00 l 4 Interest income If a loss, enter "0" 5 Dividends If a loss, enter "0" 6 Royalty income If a loss, enter "0" If a loss, enter "0" 00 00 00 l 00 l 00 l l 8 Net long-term capital gain (loss) 10 Net IRC Section 1231 gain (loss) from Form 4797 00 00 00 00 00 l 00 12 Total Federal income (loss) by Pennsylvania classification. Total the amounts in each column. 2307010054 TOP OF PAGE 00 00 00 l 00 l l 00 l 00 l 00 l 00 l 00 l 00 00 l 00 l 00 l 00 l 00 l 00 l 00 00 00 l 00 If a loss, enter "0" 00 l If a loss, enter "0" l 00 l l l l If a loss, enter "0" If a loss, enter "0" 11 Other income (loss) 00 l l l 00 l If a loss, enter "0" If a loss, enter "0" If a loss, enter "0" l 00 l If a loss, enter "0" 00 00 00 l If a loss, enter "0" If a loss, enter "0" l l l 00 l 00 If a loss, enter "0" l 00 l If a loss, enter "0" If a loss, enter "0" l 00 00 l 00 00 If a loss, enter "0" l l If a loss, enter "0" l l 00 00 00 00 If a loss, enter "0" If a loss, enter "0" 7 Net short-term capital gain (loss) 9 Net gain (loss) from disposal of IRC Section 179 property 00 00 l l l If a loss, enter "0" l l If a loss, enter "0" If a loss, enter "0" 00 l If a loss, enter "0" 00 l l If a loss, enter "0" 00 l l If a loss, enter "0" 00 l 00 If a loss, enter "0" 00 If a loss, enter "0" If a loss, enter "0" 00 l l 00 l l If a loss, enter "0" 00 00 l 00 l l If a loss, enter "0" 3 Other net rental income (loss) RESET FORM (c) (d) (e) (f) Interest Dividend Gain (loss) Rent & Royalty Income Income From Sales Income (loss) PA Schedule A PA Schedule B PA Schedule D PA Schedule E l 00 If a loss, enter "0" 00 l l 00 2307010054 NEXT PAGE PRINT PA SCHEDULE M Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss) START 2307110052 PA-20S/PA-65 M (DR) MOD 04-23 (FI) PA Department of Revenue Name as shown on PA-20S/PA-65 Information Return 2023 OFFICIAL USE ONLY FEIN ➜ PA Schedule M, Part II. Determining PA Reportable Income (Loss) by Classification The entity may need to prepare a PA Schedule M, Part II, if it must make adjustments to properly determine its reportable classified income (loss) for its PA-20S/PA-65 Information Return. This specific list of adjustments applies to income (loss) from a business or farm and rental/royalty income (loss). Enter whole dollars only. Section I. Federal Classified Income (Loss). Income class from Part I, Column: Enter the initial of Column (b) or (f) only. Total Rental Income (Loss) or Total Business Income (Loss) Before Apportionment PA Allocated Income (Loss) 00 2 l 00 2 l 00 4 l 00 10 l 00 12 l 00 14 l 00 16 l 00 18 l 1 l a Deferred income relating to advance payments for goods and services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 l b Difference in qualified gain (loss) for each business sale of property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 l 00 Section II. Itemize income adjustments that increase PA reportable income (reduce the loss). 00 00 c RESERVED FOR FUTURE USE d RESERVED FOR FUTURE USE 00 9 l f Increases in income in the year of change resulting from spread in the year of change associated with IRC Section 481(a) adjustment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 l g Income from obligations of other states and organizations that is not exempt for PA purposes . . . . . . . . . . . . . . . . . 13 l h Other income adjustments that increase PA-reportable income. Submit statement . . . . . . . . . . . . . . . . . . . . . . . . . . 15 l II. Total 17 l a Difference in qualified gain (loss) for each business sale of property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 l l b Income from obligations of the U.S. government and other organizations that is not taxable for PA purposes. . . . . . 3 l l e Income from cancellation of debt that PA treats differently from federal rules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 00 00 00 00 Section III. Itemize income adjustments that decrease the PA reportable income (increase the loss). c Decreases for previously reported income in prior year resulting from spread associated with IRC Section 481(a) . 5 00 2 00 4 6 l00 d Other income adjustments that decrease PA-reportable income. Submit statement . . . . . . . . . . . . . . . . . . . . . . . . . 7 l 00 8 l III. Total 9 10 l00 l Section IV. Adjusted PA Reportable Income. See PA-20S/PA-65 Schedule M instructions. 00 00 00 l00 00 00 00 1 l a Taxes paid on income. Submit REV-1190 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 l b Differences in depreciation/amortization taken for PA and federal purposes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 c Key man life insurance premiums (owners as beneficiaries). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 l d Differences in PA treatment of guaranteed payments for capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 l e Differences in depreciation for bonus depreciation (PA law does not allow bonus depreciation.) . . . . . . . . . . . . . . . . 9 l 00 10 l f Expense adjustments to qualify for the PA credits claimed in Section V of the PA-20S/PA-65 . . . . . . . . . . . . . . . . . . 11 l00 12 l g Other expenses the entity deducted on its federal return that PA does not allow. Submit statement . . . . . . . . . . . . . 13 l 00 14 l V. Total 15 l 00 16 l a Business meals and entertainment expenses that the entity could not deduct . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 l b Sales tax on depreciable assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 l c Differences in depreciation/amortization taken for PA and federal purposes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 d IRC Section 179 expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 l 00 2 l 4 l00 l 6 l Section V. Itemize those expenses that PA law does not allow that the entity deducted on its federal form. These adjustments increase PA reportable income (reduce the loss). 00 00 8 00 00 00 00 l 00 00 00 00 Section VI. Itemize those expenses that PA law allows that the entity could not deduct on its federal form. These adjustments decrease PA reportable income (increase the loss). 00 2 7 00 4 6 l00 8 l00 e Expenses for employees, including PA S corporation shareholder-employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 l f Life insurance premiums (PA S corporation or partnership as beneficiary) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 l g Expense adjustments to qualify for federal credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 00 12 l00 14 h Current expensing of Intangible Drilling costs - Schedule I, Line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 l Other expenses PA allows that the entity did not deduct on the federal return. Submit statement . . . . . . . . . . . . . . . 17 l 19 l 1 l i VI. Total Section VII. Total Taxable Income (Loss). Add Section IV, plus V, minus VI. 2307110052 RESET FORM PREVIOUS PAGE 00 10 00 l 00 l00 l00 l 00 l 00 00 l l 00 16 l 00 18 l 00 20 l 00 2 l 00 00 00 00 2307110052 NEXT PAGE PRINT 2023 Instructions for PA-20S/PA-65 Schedule M PA-20S/PA-65 M IN (DR) MOD 04-23 WHAT’S NEW Part II, Line c (Line numbers 5 and 6) were removed and Reserved for Future Use starting with 2023. Effective January 1, 2023, Pennsylvania personal income tax law conforms to the federal IRC §179 limitations in regard to the IRC §179 deduction and total purchase limit of eligible IRC §179 property. You may not deduct more than the IRC §179 deduction and the IRC §179 deduction is phased out when aggregate eligible purchases exceed federal limits. The IRC §179 deduction and aggregate eligible purchase cost basis applies to the entity as well as each owner. Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss) ● The Pennsylvania business activity net income (loss) must be determined on a separate PA-20S/PA-65 Schedule M, Part II from the entity’s rental/royalty activity net income (loss). ● The entity should complete the appropriate PA-20S/ PA-65 Schedules A, B and D to adjust the federal income to Pennsylvania income. Each of these classes of income represent interest, dividend and gain (loss) on the sale, exchange or disposition of property. Using PA20S/PA-65 Schedule M, Part II for the other income classes results in the improper classification of income and reporting errors. GENERAL INFORMATION COMPLETING PA SCHEDULE M PART I PURPOSE OF SCHEDULE The purpose of Schedule M is to determine the proper classification of federal income for Pennsylvania purposes and to determine the Pennsylvania business net income (loss) and/or rental/royalty income (loss) according to Pennsylvania personal income tax rules and regulations. All entities file PA-20S/PA-65 Schedule M whether there are adjustments to federal income (loss) amounts or not. BUSINESS NAME Enter the complete name of the entity or business as shown on the PA-20S/PA-65 Information Return. Enter the amount of ordinary business income (loss) from the federal Form Schedule K, Line 1 (Form 1065) or Line 1 (Form 1120S) without any adjustment for Pennsylvania personal income tax purposes. LINE INSTRUCTIONS PA-20S/PA-65 SCHEDULE M, PART I Part I must be used to classify taxable income (loss) as shown on federal Form 1065 or federal Form 1120S for Pennsylvania personal income tax purposes. The entity must classify federal amounts using Pennsylvania personal income tax rules. Refer to the PA Personal Income Tax Guide - Pass Through Entities, Classifying Federal Schedule K Lines for Pennsylvania Personal Income Tax Purposes. CLASSIFYING FEDERAL INCOME (LOSS) FOR PENNSYLVANIA PERSONAL INCOME TAX PURPOSES Classify, without adjustment for Pennsylvania personal income tax rules, the federal income (loss) from federal Form 1065, Schedule K or federal Form 1120S, Schedule K. The entity must classify the amounts from the federal categories to the reportable Pennsylvania personal income tax classes of income. The total of the specific federal line items should equal the total of the federal schedule. PA-20S/PA-65 SCHEDULE M, PART II Part II must be used: ● To reconcile the entity’s federal business income (loss) and rental/royalty income (loss) to Pennsylvania income (loss). If the entity is separately allocating income, is keeping separate books and records for financial statement purposes, and there are no business transactions between multiple businesses, the “Pennsylvania-Allocated Income (Loss)” column and the “Total Rental Income (Loss) or Total Business Income (Loss) Before Apportionment” column will be completed. If the entity is apportioning its income, complete only the “Total Rental Income (Loss) or Total Business Income (Loss) Before Apportionment” column. ● Rental income must be allocated between inside Pennsylvania and outside Pennsylvania. Apportionment is not allowed. 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. PART I Refer to the PA Personal Income Tax Guide - Pass Through Entities, Classifying Federal Schedule K Lines for Pennsylvania Personal Income Tax Purposes. For each line in Column (a), Federal Income (loss), analyze the components of the federal amounts. Then classify the federal amounts to the applicable Pennsylvania income class in its entirety or the appropriate portion of each amount, without adjustment for Pennsylvania personal income tax rules. If the entity does not have to classify an income (loss) amount, place that amount in the appropriate column for the Pennsylvania income class. The PA S corporation or partnership will reflect federal and state differences from Column (c) through (e) on the corresponding Pennsylvania schedules. Columns (b) and (f) are reported on PA-20S/PA-65 Schedule M, Part II for further adjustment as required. www.revenue.pa.gov PREVIOUS PAGE PA-20S/PA-65 M NEXT PAGE PRINT 1 LINE 1 ORDINARY INCOME (LOSS) FROM TRADE OR BUSINESS ACTIVITIES COLUMN (a) FEDERAL INCOME (LOSS) Enter the amount of ordinary business income (loss) from the federal Form Schedule K, Line 1 (Form 1065) or Line 1 (Form 1120S) without any adjustment for Pennsylvania personal income tax purposes. COLUMN (b) PENNSYLVANIA BUSINESS INCOME (LOSS) Enter the amount of ordinary business income (loss) from Line 1, Column (a) received from the operation of the entity’s business, profession or farm. IMPORTANT: For federal purposes, the entity includes estate/trust income and gambling/lottery winnings in ordinary income. The entity must reclassify such income and subtract it from ordinary income on PA-20S/PA-65 Schedule M, Part II, Section III, Line d. The entity also is required to include estate/trust income on PA-20S/PA-65 Schedule J and gambling/lottery winnings on PA-20S/PA-65 Schedule T. The entity then reports the income on the PA-20S/PA-65 Information Return, Section III in the appropriate class of income. The entity supports this adjustment with a supplemental statement that is submitted with the PA-20S/ PA-65 Schedule M. See also instructions for Line 11, Investment Partnerships. COLUMN (e) GAIN (LOSS) FROM SALES PA SCHEDULE D Enter the ordinary gain (loss) amount on the disposition of assets from the federal Form 1065 or Form 1120S returns where you did not use the proceeds to acquire like-kind property used in the same line of business within the same entity. “Line of business” is defined by the North American Industry Classification System (NAICS) code. LINE 2 NET INCOME (LOSS) FROM RENTAL REAL ESTATE ACTIVITIES COLUMN (a) FEDERAL INCOME (LOSS) Enter the amount of net rental estate income (loss) from the federal Form Schedule K, Line 2 (Form 1065) or Line 2 (Form 1120S) without any adjustment for Pennsylvania personal income tax purposes. COLUMN (b) PENNSYLVANIA BUSINESS INCOME (LOSS) Enter the amount of net rental real estate income (loss) from Part I, Line 2, Column (a) that represents business income for Pennsylvania personal income tax purposes. Refer to the PA Personal Income Tax Guide - Net Income (Loss) from Rents, Royalties, Copyrights and Patents to determine if rental income should be classified as Pennsylvania business income. 2 COLUMN (f) RENT & ROYALTY INCOME (LOSS) - PA SCHEDULE E Enter the amount of net rental real estate income (loss) from Part I, Line 2, Column (a) received from the entity’s ownership of rental property. LINE 3 OTHER NET RENTAL INCOME (LOSS) COLUMN (a) FEDERAL INCOME (LOSS) Enter the amount of other net rental estate income (loss) from the federal Form Schedule K, Line 3c (Form 1065) or Line 3c (Form 1120S) without any adjustment for Pennsylvania personal income tax purposes. COLUMN (b) PENNSYLVANIA BUSINESS INCOME (LOSS) Enter the amount of other net rental income (loss) from Part I, Line 3, Column (a) that represents business income for Pennsylvania personal income tax purposes. Refer to the PA Personal Income Tax Guide - Net Income (Loss) from Rents, Royalties, Copyrights and Patents to determine if other net rental income (loss) should be classified as Pennsylvania business income. COLUMN (f) RENT & ROYALTY INCOME (LOSS) - PA SCHEDULE E Enter the amount of other net rental income (loss) from Part I, Line 3, Column (a) received from the entity’s other rental activities. LINE 4 INTEREST INCOME COLUMN (a) FEDERAL INCOME (LOSS) Enter the amount of interest income from federal Form Schedule K, Line 5 (Form 1065) or Schedule K, Line 4 (Form 1120S) without any adjustment for Pennsylvania personal income tax purposes. COLUMN (b) PENNSYLVANIA BUSINESS INCOME (LOSS) Enter the amount of interest income from Part I, Line 4, Column (a) received from investments and deposits for the purpose of generating working capital and other interest used in the operation of the entity’s business, profession or farm. COLUMN (c) INTEREST INCOME PA SCHEDULE A Enter the amount of interest income from Part I, Line 4, Column (a) received from the entity’s non-business investments and deposits (i.e., long-term investments, savings, set-aside interest for owners, etc.). PA-20S/PA-65 M PREVIOUS PAGE www.revenue.pa.gov NEXT PAGE PRINT COLUMN (f) LINE 7 RENT & ROYALTY INCOME (LOSS) - PA SCHEDULE E Enter the amount of interest income from Part I, Line 4, Column (a) received from investments and deposits for the purpose of maintaining the entity’s rental property or activities. NET SHORT-TERM CAPITAL GAIN (LOSS) Pennsylvania does not distinguish between long-term and short-term gain (loss). Read the instructions to determine if a sale, exchange or disposition of assets is classified asPennsylvania Business Income (Loss) (Column (b)) or Gain (Loss) From Sales PA Schedule D (Column (e)). LINE 5 DIVIDENDS COLUMN (a) COLUMN (a) FEDERAL INCOME (LOSS) Enter the amount of dividends from the federal Form Schedule K, Line 6a (Form 1065) or Schedule K, Line 5a (Form 1120S) without any adjustment for Pennsylvania personal income tax purposes. COLUMN (b) PENNSYLVANIA BUSINESS INCOME (LOSS) Enter the amount of dividends from Part I, Line 5, Column (a) received from investments and deposits for the purpose of generating working capital and other dividend income used in the operation of the entity’s business, profession, or farm. COLUMN (d) FEDERAL INCOME (LOSS) Enter the amount of net short-term gain(loss) from the federal Form Schedule K, Line 8 (Form 1065) or Schedule K, Line 7 (Form 1120S) without any adjustment for Pennsylvania personal income tax purposes. COLUMN (b) PENNSYLVANIA BUSINESS INCOME (LOSS) Enter the amount of net short-term capital gain (loss) from Part I, Line 7, Column (a) received from the entity’s sales of assets when it reinvested the proceeds in like-kind property used in the same line of business in the same business, profession or farm. NOTE: “Line of business” is defined by the North American Industry Classification System (NAICS) code. COLUMN (d) DIVIDEND INCOME - PA SCHEDULE B Enter the amount of dividends from Part I, Line 5, Column (a) received from the entity’s non-business investments and deposits (i.e. long-term investments, stocks held for investments etc.). DIVIDEND INCOME Enter the amount of short-term capital gain distributions taxable as dividends for Pennsylvania personal income tax purposes. COLUMN (f) COLUMN (e) Rent & Royalty Income (Loss) - PA Schedule E Enter the amount of dividends from Part I, Line 5, Column (a) received from investments or deposits for the purpose of maintaining the entity’s rental property. GAIN (LOSS) FROM SALES PA SCHEDULE D Enter the amount of net short-term capital gain (loss) from Part I, Line 7, Column (a) received from the sales of assets when it did not reinvest the proceeds in like-kind property used in the same line of business in the same business, profession, or farm. LINE 6 ROYALTY INCOME LINE 8 COLUMN (a) FEDERAL INCOME (LOSS) Enter the amount of royalties from the federal Form Schedule K, Line 7 (Form 1065) or Schedule K, Line 6 (Form 1120S) without any adjustment for Pennsylvania personal income tax purposes. NET LONG-TERM CAPITAL GAIN (LOSS) Pennsylvania does not distinguish between long-term and short-term gain (loss). Read the instructions for determining if a sale, exchange or disposition of assets is classified as Pennsylvania Business Income (Loss) (Column (b)) or Gain (Loss) From Sales PA Schedule D (Column (e)). COLUMN (b) COLUMN (a) PENNSYLVANIA BUSINESS INCOME (LOSS) Enter the amount of royalties from Part I, Line 6, Column (a) for the amount of royalty income that was used in the entity’s operation of the business. FEDERAL INCOME (LOSS) Enter the amount net long term capital gain (loss) from the federal Form Schedule K, Line 9a (Form 1065) or Schedule K, Line 8a (Form 1120S) without any adjustment for Pennsylvania personal income tax purposes. COLUMN (f) RENT & ROYALTY INCOME (LOSS) - PA SCHEDULE E Enter the amount of royalties from Part I, Line 6, Column (a) for the amount of royalty income that was received for the use of the entity’s property. COLUMN (b) PENNSYLVANIA BUSINESS INCOME (LOSS) Enter the amount of net long-term capital gain (loss) from Part I, Line 8, Column (a) received from the entity’s sales of www.revenue.pa.gov PREVIOUS PAGE PA-20S/PA-65 M NEXT PAGE PRINT 3 assets when it reinvested the proceeds in like-kind property used in the same line of business in the same business, profession or farm. NOTE: “Line of business” is defined by the North American Industry Classification System (NAICS) code. COLUMN (d) DIVIDEND INCOME Enter the amount of net long-term capital gain distributions taxable as dividends for Pennsylvania personal income tax purposes. COLUMN (e) COLUMN (b) PENNSYLVANIA BUSINESS INCOME (LOSS) Enter the amount of net IRC §1231 gain (loss) from federal Form 4797 from PA-20S/PA-65 Schedule M, Part I, Line 10, Column (a) received from the entity’s sales of assets whenit reinvested the proceeds in like-kind property used in the same line of business in the same business, profession or farm. NOTE: “Line of business” is defined by the North American Industry Classification System (NAICS) code. COLUMN (e) GAIN (LOSS) FROM SALES PA SCHEDULE D Enter the amount of net long-term capital gain (loss) from Part I, Line 8, Column (a) received from the entity’s sales of assets when it did not reinvest the proceeds in like-kind property used in the same line of business in the same business, profession, or farm. GAIN (LOSS) FROM SALES PA SCHEDULE D Enter the amount of net IRC § 1231 gain (loss) from federal Form 4797 from PA-20S/PA-65 Schedule M, Part I, Line 10, Column (a) received from the entity’s sales of assets when it did not reinvest the proceeds in like-kind property used in the same line of business in the same business, profession or farm. LINE 9 LINE 11 NET GAIN (LOSS) FROM DISPOSAL OF IRC §179 PROPERTY COLUMN (a) FEDERAL INCOME (LOSS) Enter the amount of net gain (loss) from the disposal of IRC §179 property from the federal Form Schedule K, Line 20c (Form 1065) or Schedule K, Line 17d (Form 1120S) without any adjustment for Pennsylvania personal income tax purposes. COLUMN (b) PENNSYLVANIA BUSINESS INCOME (LOSS) Enter the amount of net gain (loss) from the disposal of IRC §179 property from Part I, Line 9, Column (a) received from the entity’s sale of IRC §179 property when it reinvested the proceeds in like-kind property used in the same line of business in the same business, profession or farm. NOTE: “Line of business” is defined by the North American Industry Classification System (NAICS) code. COLUMN (e) GAIN (LOSS) FROM SALES PA SCHEDULE D Enter the amount of net gain (loss) from the disposal of IRC §179 property from Part I, Line 9, Column (a) received from the entity’s sale of IRC §179 property when it did not reinvest the proceeds in like-kind property used in the same line of business in the same business, profession, or farm. OTHER INCOME (LOSS) Analyze amounts on this line to determine the proper Pennsylvania income classification. Expenses reported on this line are generally not deductible for Pennsylvania personal income tax purposes. INVESTMENT PARTNERSHIPS Investment partnerships, who report income on this line for federal income tax purposes, are required to classify investment income according to Pennsylvania personal income tax rules. Interest, dividends and gains (losses) should not be classified as business income and should be allocated to their respective classes of income. In addition, Pennsylvania does not allow deductions related to investment income. Pennsylvania does not follow the “trader in securities” concept allowed for federal income tax purposes. COLUMN (a) FEDERAL INCOME (LOSS) Enter the amount of other income (loss) from the federal Form Schedule K, Line 11 (Form 1065) or Schedule K, Line 10 (Form 1120S) without any adjustment for Pennsylvania personal income tax purposes. NET IRC SECTION 1231 GAIN (LOSS) FROM FORM 4797 Classify each item of income (loss) for Pennsylvania personal income tax purposes in the applicable columns according to each source and transaction that determined the income (loss). Other business income (loss) is Column (b), other interest income is Column (c), other dividend income is Column (d), other income (loss) from the sale, exchange or disposition of the entity’s property is Column (e), and other income (loss) from the use of the entity’s rental property or activities is Column (f). COLUMN (a) COLUMN (e) FEDERAL INCOME (LOSS) Enter the amount of net IRC §1231 gain (loss) from the federal Form Schedule K, Line 10 (Form 1065) or Schedule K, Line 9 (Form 1120S) without any adjustment for Pennsylvania personal income tax purposes. GAIN (LOSS) FROM SALES PA SCHEDULE D Enter Section 1256 income (loss) from the federal Form Schedule K, Line 11 (Form 1065) or Schedule K, Line 10 (Form 1120S) without any adjustment for Pennsylvania persona income tax purposes. LINE 10 4 PA-20S/PA-65 M PREVIOUS PAGE www.revenue.pa.gov NEXT PAGE PRINT LINE 12 enue Procedure 2004-34. Items reported on this line must be reversed in Section III, Line d the following tax year. TOTAL FEDERAL INCOME (LOSS) BY PENNSYLVANIA CLASSIFICATION Total the amounts in columns a through f. LINE b COMPLETING PA SCHEDULE M PART II 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. DIFFERENCE IN QUALIFIED GAIN (LOSS) FOR EACH BUSINESS SALE OF PROPERTY A qualified gain (loss) for each business sale of property is when the entity reinvests the proceeds from the sale of the assets in like-kind property in the same line of business within the same entity. “Line of business” is defined by the North American Industry Classification (NAICS) code. The amount reported on this line is when Pennsylvania gain is higher than the federal gain or the Pennsylvania loss is less than the federal loss. LINE INSTRUCTIONS LINE c PART II RESERVED FOR FUTURE USE Specific instructions for most of the lines are provided. Lines that are not discussed are self-explanatory. LINE d DETERMINING PENNSYLVANIA-REPORTABLE INCOME (LOSS) BY CLASSIFICATION Use PA-20S/PA-65, Schedule M, Part II to reconcile the entity’s federal business income (loss) and/or rental/royalty income (loss) to Pennsylvania income (loss). If the entity is separately allocating income, keeps separate books and records for financial statement purposes, and there are no business transactions between multiple businesses, the “PAAllocated Income (Loss)” Column and the “Total Rental Income (Loss) or Total Business Income (Loss) Before Apportionment” Column will be completed. For the business class of income if the entity is apportioning its income, complete only the “Total Rental Income (Loss) or Total Business Income (Loss) Before Apportionment” Column. SECTION I FEDERAL CLASSIFICATION INCOME (LOSS) Enter the Pennsylvania-classified net income (loss) from Part I, Column (b), or enter the Pennsylvania-classified net rental income (loss) from Part I, Column (f). The Pennsylvania business activity net income (loss) must be determined on a separate PA-20S/PA-65 Schedule M, Part II from the entity’s rental/royalty activity net income (loss). IMPORTANT: Part II, Section I, Box 2 must show total worldwide rental income. Rental income cannot be apportioned. SECTION II ITEMIZE INCOME ADJUSTMENTS THAT INCREASE PENNSYLVANIA- REPORTABLE INCOME (REDUCE THE LOSS FROM THE FEDERAL FORM) LINE a DEFERRED INCOME RELATING TO ADVANCE PAYMENTS FOR GOODS AND SERVICES Pennsylvania personal income tax requires income to be taxed in the year of receipt. Pennsylvania does not allow the deferral of income related to advanced payments for goods and services as allowed under IRC §451 and Internal Rev- RESERVED FOR FUTURE USE LINE e INCOME FROM CANCELLATION OF DEBT THAT PENNSYLVANIA TREATS DIFFERENTLY FROM FEDERAL RULES The department published several bulletins which discuss the taxability of cancellation of debt. To determine taxability, refer to PIT Bulletins 2009-04, 2009-05 and 2009-06 on the department’s website. LINE f INCREASES IN INCOME IN THE YEAR OF CHANGE RESULTING FROM SPREAD IN THE YEAR OF CHANGE ASSOCIATED WITH IRC SECTION 481(A) ADJUSTMENT The accounting adjustment must be recognized for Pennsylvania in the year of change. LINE g INCOME FROM OBLIGATIONS OF OTHER STATES AND ORGANIZATIONS THAT IS NOT EXEMPT FOR PA PURPOSES Interest on obligations of other states and territories, their political subdivisions and instrumentalities is taxable for Pennsylvania personal income tax purposes. LINE h OTHER TAXABLE INCOME FOR PENNSYLVANIA PURPOSES THE ENTITY DOES NOT REPORT FOR FEDERAL PURPOSES. SUBMIT STATEMENT Include other kinds of income that are taxable for Pennsylvania purposes but the entity does not report for federal purposes. Include passive or at-risk-loss carryover amounts deducted on federal Form 8825. Pennsylvania does not allow carryover of losses. Loss from a pass through entity is included on this line in determining net profits for personal income tax purposes. The pass through loss should be added to business income and reported on PA-20S/PA-65 www.revenue.pa.gov PREVIOUS PAGE PA-20S/PA-65 M NEXT PAGE PRINT 5 Information Return, Section I, Line 1b. Submit an itemized statement describing each income. LINE d SECTION II OTHER PENNSYLVANIA NONTAXABLE INCOME THE ENTITY REPORTED FOR FEDERAL PURPOSES. SUBMIT STATEMENT Include other kinds of income that are not taxable for Pennsylvania purposes but the entity had to report for federal purposes. TOTAL Total Lines a through h as follows: PENNSYLVANIA ALLOCATED INCOME (LOSS) COLUMN Add Boxes 1, 3, 9, 11, 13 and 15. Enter the result in Part II, Section II, Box 17. TOTAL RENTAL INCOME (LOSS) OR TOTAL BUSINESS INCOME (LOSS) BEFORE APPORTIONMENT COLUMN Add Boxes 2, 4, 10, 12, 14 and 16. Enter the result in Part II, Section II, Box 18. SECTION III ITEMIZE INCOME ADJUSTMENTS THAT DECREASE THE PENNSYLVANIA REPORTABLE INCOME. (INCREASE THE LOSS FROM THE FEDERAL FORM) LINE a DIFFERENCE IN QUALIFIED GAIN (LOSS) FOR EACH BUSINESS SALE A qualified gain (loss) for each business sale of property is when the entity reinvests the proceeds from the sale of the assets in like-kind property in the same line of business within the same entity. “Line of business” is defined by the North American Industry Classification (NAICS) code. This line represents a decrease in reportable income as the Pennsylvania gain is less than the federal gain or the Pennsylvania loss is higher than the federal loss. LINE b INCOME FROM OBLIGATIONS OF THE U.S. GOVERNMENT AND OTHER ORGANIZATIONS THAT IS NOT TAXABLE FOR PA PURPOSES Interest on obligations issued by or on behalf of the U.S. government is not subject to Pennsylvania personal income tax. Income from a pass through entity is included on this line to determine net profits for personal income tax purposes. Pass through income should be deducted from business income and reported on PA-20S/PA-65 Information Return, Section I, Line 1b. If an itemized statement is not submitted describing each income item, the income item may be denied. If the entity reported an adjustment in Section II, Line a in the previous tax year, then an adjustment must be reported on Line d reversing that. SECTION III TOTAL Total Lines a through d as follows: PENNSYLVANIA ALLOCATED INCOME (LOSS) COLUMN Add Boxes 1, 3, 5 and 7. Enter the result in Part II, Section III, Box 9. TOTAL RENTAL INCOME (LOSS) OR TOTAL BUSINESS INCOME (LOSS) BEFORE APPORTIONMENT COLUMN Add Boxes 2, 4, 6 and 8. Enter the result in Part II, Section III, Box 10. SECTION IV ADJUSTED PENNSYLVANIA-REPORTABLE INCOME PENNSYLVANIA ALLOCATED INCOME (LOSS) COLUMN Add Box 1 in Section I and Box 17 in Section II. From this result, subtract Box 9 in Section III. Enter the result in Part II, Section IV, Box 1. See REV-1643, Tax-Exempt Obligations for Pennsylvania Personal Income Tax Purposes, for a complete listing of obligations exempt from Pennsylvania personal income tax on the department’s website. TOTAL RENTAL INCOME (LOSS) OR TOTAL BUSINESS INCOME (LOSS) BEFORE APPORTIONMENT COLUMN Add Box 2 in Section I and Box 18 in Section II. From this result, subtract Box 10 in Section III. Enter the result in Part II, Section IV, Box 2. LINE c SECTION V DECREASES FOR PREVIOUSLY REPORTED INCOME IN PRIOR YEAR RESULTING FROM SPREAD ASSOCIATED WITH IRC SECTION 481(A) The amount reported on this line is the federal spread from the IRC Section 481 adjustment. The entire adjustment should be reported in the year of the change for Pennsylvania purposes. If you did not report the entire adjustment in the year of the change for Pennsylvania purposes, do not decrease Pennsylvania reportable income. ITEMIZE THOSE EXPENSES THAT PENNSYLVANIA LAW DOES NOT ALLOW THAT THE ENTITY DEDUCTED ON ITS FEDERAL FORM These adjustments increase Pennsylvania reportable income (reduce the loss from the federal form). The entity should refer to the PA Personal Income Tax Guide - Deductions and Credits for Pennsylvania rules governing the expenses it may deduct for federal purposes, but may not deduct to determine its income (loss) for Pennsylvania. 6 PA-20S/PA-65 M PREVIOUS PAGE www.revenue.pa.gov NEXT PAGE PRINT LINE a TAXES PAID ON INCOME SUBMIT REV-1190 Use this line to report taxes paid on income. The Philadelphia Business Income and Receipts Tax includes two components: ● Gross receipts tax based on revenue; and ● Net income tax based on net income. Pennsylvania personal income tax law does not allow deductions for taxes based on net income. Only the gross receipts portion of the Philadelphia Business Income and Receipts Tax is deductible for Pennsylvania personal income taxes. You may not take a deduction for the net income tax portion. The following are not deductible for Pennsylvania personal income tax and should be included on this line: ● Taxes based on net income; ● Taxes paid to other states or foreign countries based on income; ● Estate taxes and inheritance, legacy, succession and gift taxes; or ● Assessments for betterment and improvements. The following are deductible for Pennsylvania personal income tax and should not be included on this line: ● Taxes based on gross receipts; ● Other federal, state and local taxes are allowable deductions. NOTE: The entity submitting REV-1190 must include the entity name, FEIN and tax year on the form. LINE b DIFFERENCES IN DEPRECIATION/AMORTIZATION TAKEN FOR PENNSYLVANIA AND FEDERAL PURPOSES Include amount in years where there is a federal bonus depreciation expense. Pennsylvania does not allow bonus depreciation. Act 52 of 2013, allows a taxpayer to amortize the intangible drilling and development costs it incurs. The election must be taken by the person (entity) that incurs the costs. Include in the amount of the adjustment the amortization the entity incurs for intangible drilling costs. For tax years beginning on or after January 1, 2014, Pennsylvania allows the option of amortizing IDCs over a ten-year period or taking up to one-third of the cost in the first year and amortizing the remainder over ten years beginning in the tax year the costs are incurred. LINE c KEY MAN LIFE INSURANCE PREMIUMS (OWNERS AS BENEFICIARIES) If the owners are the beneficiaries, Pennsylvania does not allow the deduction of life insurance premiums. LINE d DIFFERENCES IN PENNSYLVANIA TREATMENT OF GUARANTEED PAYMENTS FOR CAPITAL Please refer to the PA Personal Income Tax Guide - Pass Through Entities. LINE e DIFFERENCES IN DEPRECIATION FOR BONUS DEPRECIATION Pennsylvania law does not allow bonus depreciation. Therefore, reduce the entity's depreciation expense by the difference after subtracting the allowable Pennsylvania depreciation expense using the generally accepted method the entity elected from its federal bonus depreciation. Alternatively, subtract the entire amount of bonus depreciation and claim the Pennsylvania-allowable depreciation expense Section VI, Line c. LINE f EXPENSE ADJUSTMENTS TO QUALIFY FOR THE PENNSYLVANIA CREDITS CLAIMED IN SECTION V OF THE PA-20S/PA-65 Pennsylvania does not allow the deduction of certain expenses used to qualify for the Neighborhood Assistance Program and the Educational Improvement tax credits. If the expenses were deducted in calculating federal-taxable income, the amount should be reported as a reduction in expenses on line f. Do not reduce Pennsylvania-taxable income by amounts paid to qualify for the credit. LINE g OTHER EXPENSES THE ENTITY DEDUCTED ON ITS FEDERAL RETURN THAT PENNSYLVANIA DOES NOT ALLOW. SUBMIT STATEMENT Include other kinds of expenses that are not deductible for Pennsylvania purposes but the entity had to report for federal purposes. Submit an itemized statement describing each income item. SECTION V TOTAL Total Lines a through g as follows: PENNSYLVANIA ALLOCATED INCOME (LOSS) COLUMN Add Boxes 1, 3, 5, 7, 9, 11 and 13. Enter the result in Part II, Section V, Box 15. TOTAL RENTAL INCOME (LOSS) OR TOTAL BUSINESS INCOME (LOSS) BEFORE APPORTIONMENT COLUMN Add Boxes 2, 4, 6, 8, 10, 12 and 14. Enter the result in Part II, Section V, Box 16. SECTION VI ITEMIZE THOSE EXPENSES THAT PENNSYLVANIA LAW ALLOWS THAT THE ENTITY COULD NOT DEDUCT ON ITS FEDERAL FORM These adjustments decrease Pennsylvania-reportable income (increase the loss from the federal form). The entity should refer to the PA Personal Income Tax Guide - Pass www.revenue.pa.gov PREVIOUS PAGE PA-20S/PA-65 M NEXT PAGE PRINT 7 Through Entities for instructions for the Pennsylvania rules governing the expenses it may not deduct for federal purposes, but can deduct in determining its income (loss) for Pennsylvania. LINE a BUSINESS MEALS AND ENTERTAINMENT EXPENSES THAT THE ENTITY COULD NOT DEDUCT Pennsylvania allows 100 percent of customary and reasonable amounts expensed on business meals and entertainment. The amount disallowed for federal purposes is taken as an expense on PA-20S/PA-65, Schedule M, Part II, Section VI, Line a. This adjustment decreases Pennsylvania-reportable income. LINE b SALES TAX ON DEPRECIABLE ASSETS Pennsylvania allows the immediate expensing of sales tax paid on depreciable assets. Federal law requires the sales tax to be added to the basis of the depreciable asset. If the sales tax is deducted on this line, do not add it to depreciable basis for Pennsylvania personal income tax purposes. LINE c DIFFERENCES IN DEPRECIATION/AMORTIZATION TAKEN FOR PENNSYLVANIA AND FEDERAL PURPOSES Include amount when Pennsylvania depreciation expense is greater than federal depreciation expense due to allowances of federal bonus depreciation expenses and excess IRC §179 deductions in previous years. Act 52 of 2013, allows a taxpayer to amortize the intangible drilling costs it incurs. The election must be taken by the person (entity) that incurs the costs. Include in the amount of the adjustment the amortization the entity incurs for intangible drilling and development costs. For tax years beginning on or after January 1, 2014, Pennsylvania permits the option of amortizing IDCs over a tenyear period; or taking up to one-third of the cost in the initial year, and amortizing the remainder over ten years beginning in the tax year the costs are incurred. In addition to the amount of depreciation expense reported as a result of any bonus depreciation or excess IRC §179 deductions for federal purposes, enter the total amount reported from Schedule I, Section III, Line 8. LINE d SECTION 179 EXPENSE PARTNERSHIPS Partnerships do not reduce the ordinary business income reported on federal Form 1065, Schedule K, Line 1 by the IRC §179 deduction reported on Line 12. The Pennsylvania deduction is taken when federal Form 1065, Schedule K, Line 1 is transferred to PA-20S/PA-65 Schedule M, Part II, Section I. The PA Section 179 expense is reported in Part II, Section VI, Line d. 8 PA S CORPORATIONS PA S Corporations do not reduce the ordinary business income reported on federal Form 1120S, Schedule K, Line 1 by the IRC §179 deduction reported on Line 11. The Pennsylvania deduction is taken when federal Form 1120S, Schedule K, Line 1 is trans ferred to PA-20S/PA65 Schedule M, Part II, Section I. The PA Section 179 expense is reported in Part II, Section VI, Line d. Effective January 1, 2023, Pennsylvania personal income tax law conforms to the federal IRC §179 limitations in regard to the IRC §179 deduction and total purchase limit of eligible IRC §179 property. You may not deduct more than the IRC §179 deduction and the IRC §179 deduction is phased out when aggregate eligible purchases exceed federal limits. The IRC §179 deduction and aggregate eligible purchase cost basis applies to the entity as well as each owner. You do not need to expense assets using IRC §179 on your federal return in order to claim the expense on your PA return. See PA Personal Income Tax Guide – Net Income (Loss) from the Operation of a Business, Profession or Farm. LINE e EXPENSES FOR EMPLOYEES INCLUDING PA S CORPORATION SHAREHOLDER-EMPLOYEES Include federal nondeductible expenses that are deductible for Pennsylvania such as health insurance for PA S corporation shareholder-employees. If shareholder health insurance expense is included on Schedule M, Part I, Line 1 a (federal income (loss)) then it cannot be deducted on Schedule M, Part II, Section VI, Line e. Also, for Pennsylvania personal income tax purposes, if the health plan is non-discriminatory, regardless of the percentage of the shareholder, it is not included in the shareholder wages and is deductible for the S corporation. For Pennsylvania personal income tax purposes, if the health plan is discriminatory, regardless of the percentage of the shareholder, it is included in the shareholder wages and is deductible for the S corporation. Non-discriminatory plans include all employees. Discriminatory plans include only some employees and the health package is enhanced. LINE f LIFE INSURANCE PREMIUMS (PA S CORPORATION OR PARTNERSHIP AS BENEFICIARY) Pennsylvania allows the deductions of premiums. However, if the entity is deducting life insurance premiums for which it is a beneficiary for Pennsylvania purposes, the proceeds are taxable for Pennsylvania personal income tax purposes. Pennsylvania does not allow an expense deduction for life insurance premiums if the life insurance proceeds are to be used to fund a buy or sell arrangement or merely free up funds to buy out a decedent’s interest. The proceeds are not taxable at the owner’s level. PA-20S/PA-65 M PREVIOUS PAGE www.revenue.pa.gov NEXT PAGE PRINT If the exclusive purpose of the policy is to keep the business going, including insurance policies to secure business loans, the insurance premiums are deductible and the proceeds are taxable. Include the proceeds in ordinary income when determining net income or loss from the operation of the activities of the entity. LINE g EXPENSE ADJUSTMENTS TO QUALIFY FOR FEDERAL CREDITS If the entity has taken certain credits against federal-taxable income then certain expenses are not deductible in calculating federal-taxable income. Those expenses are allowable in calculating Pennsylvania-taxable income. LINE h CURRENT EXPENSING OF INTANGIBLE DRILLING COST For tax years beginning after Dec. 31, 2013, recovery of the intangible drilling and development costs includes an option to elect to currently expense up to one-third of the total amount of the eligible costs. The election is made by including the amount on this line. A shareholder, partner or member may not make the election on behalf of an S corporation, partnership or limited liability company. Enter the total amount reported from Schedule I, Section II, Line 5. LINE i SECTION VI TOTAL Total Lines a through d as follows: PENNSYLVANIA ALLOCATED INCOME (LOSS) COLUMN Add Boxes 1, 3, 5, 7, 9, 11, 13, 15 and 17. Enter the result in Part II, Section VI, Box 19. TOTAL RENTAL INCOME (LOSS) OR TOTAL BUSINESS INCOME (LOSS) BEFORE APPORTIONMENT COLUMN Add Boxes 2, 4, 6, 8, 10, 12, 14, 16 and 18. Enter the result in Part II, Section VI, Box 20. SECTION VII TOTAL TAXABLE INCOME (LOSS) PENNSYLVANIA ALLOCATED INCOME (LOSS) COLUMN Add Box 1 in Section IV and Box 15 in Section V. From this result, subtract Box 19 in Section VI. Enter the result in Part II, Section VII, Box 1. If selecting Column (b) on PA-20S/PA-65, Schedule M, Part II, Section I, enter the result on the PA-20S/PA-65 Information Return, Section II, Line 2e. If selecting Column (f) on PA-20S/PA-65, Schedule M, Part II, Section I, enter the result on the PA-20S/PA-65 Information Return, Section III, Line 6b. If a loss, fill in the oval. TOTAL RENTAL INCOME (LOSS) OR TOTAL BUSINESS INCOME (LOSS) BEFORE APPORTIONMENT COLUMN OTHER EXPENSES PENNSYLVANIA ALLOWS THAT THE ENTITY DID NOT DEDUCT ON ITS FEDERAL RETURN. SUBMIT STATEMENT Include other kinds of expenses the entity could not deduct on its federal return but Pennsylvania law allows. Add Box 2 in Section IV and Box 16 in Section V. From this result, subtract Box 20 in Section VI. If an itemized statement is not submitted, describing each expense item, the expense item may be denied. If selecting Column (b) on PA-20S/PA-65, Schedule M, Part II, Section I, enter the result on the PA-20S/PA-65 Information Return, Section I, Line 1a. Pennsylvania personal income law does not allow deductions for charitable contributions. Refer to the PA Personal Income Tax Guide - Deductions and Credits. For expenses for intangible drilling costs refer to the PA Personal Income Tax Guide - Natural Resources. Enter the result in Part II, Section VII, Box 2. If you are apportioning business income, enter this amount on Schedule H, Line 6. If selecting Column (f) on PA-20S/PA-65, Schedule M, Part II, Section I, enter on the PA-20S/PA-65 Information Return, Section III, Line 6a, the difference between Line 2 and Line 1 from Part II, Section VII. For intangible drilling costs incurred in tax years beginning after Dec. 31, 2013, refer to Personal Income Tax Informational Notice 2013-04, intangible drilling and development costs. www.revenue.pa.gov PREVIOUS PAGE PA-20S/PA-65 M RETURN TO PAGE 1 PRINT 9
2023 PA Schedule M - Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss) (PA-20S/PA-65 M)
More about the Pennsylvania Form PA-20S-PA-65 M Corporate Income Tax TY 2023
We last updated the PA Schedule M - Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss) in January 2024, so this is the latest version of Form PA-20S-PA-65 M, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form PA-20S-PA-65 M 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 M.
| Form Code | Form Name |
|---|---|
| Form PA-20S-PA-65 | S Corporation/Partnership Information Return (PA-20S/PA-65) |
| Form PA-20S-PA-65 Directory | PA-20S/PA-65 Directory - Partner/Member/Shareholder |
| Form PA-20S-PA-65 J | PA Schedule J - Income from Estates or Trusts |
| Form PA-20S-PA-65 NW | PA Schedule NW - Nonresident Withholding Payments PA S Corporations and Partnerships |
| Form PA-20S-PA-65 B | PA Schedule B - Dividend and Capital Gains Income |
| Form PA-20S-PA-65 D | PA Schedule D - Sale, Exchange or Disposition of Property Within Pennsylvania |
| Form PA-20S-PA-65 E | PA Schedule E - Rent and Royalty Income (Loss) |
| Form PA-20S-PA-65 H-Corp | PA Schedule H-Corp - Corporate Partner Apportioned Business Income (Loss) |
| 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 OC | PA Schedule OC - Other Credits |
View all 175 Pennsylvania Income Tax Forms
Form Sources:
Pennsylvania usually releases forms for the current tax year between January and April. We last updated Pennsylvania Form PA-20S-PA-65 M from the Department of Revenue in January 2024.
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 M
We have a total of thirteen past-year versions of Form PA-20S-PA-65 M in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form PA-20S-PA-65 M
2023 PA Schedule M - Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss) (PA-20S/PA-65 M)
2022 Form PA-20S-PA-65 M
2022 PA Schedule M - Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss) (PA-20S/PA-65 M)
2021 Form PA-20S-PA-65 M
2021 PA Schedule M - Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss) (PA-20S/PA-65 M)
2020 Form PA-20S-PA-65 M
2020 PA Schedule M - Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss) (PA-20S/PA-65 M)
2019 Form PA-20S-PA-65 M
PA-20S/PA-65 Schedule M
2018 Form PA-20S-PA-65 M
2018 PA Schedule M - Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss) (PA-20S/PA-65 M)
2017 Form PA-20S-PA-65 M
2017 PA Schedule M - Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss) (PA-20S/PA-65 M)
2016 Form PA-20S-PA-65 M
2016 PA Schedule M - Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss) (PA-20S/PA-65 M)
2015 Form PA-20S-PA-65 M
2015 PA Schedule M - Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss) (PA-20S/PA-65 M)
2014 Form PA-20S-PA-65 M
2014 PA Schedule M - Reconciliation of Federal-Taxable Income-Loss to PA-Taxable Income (Loss) (PA-20S/PA-65 M)
2013 Form PA-20S-PA-65 M
2013 PA Schedule M - Reconciliation of Federal-Taxable Income-Loss to PA-Taxable Income (Loss) (PA-20S/PA-65 M)
2012 Form PA-20S-PA-65 M
2012 PA Schedule M - Reconciliation of Federal-Taxable Income-Loss to PA-Taxable Income-Loss (PA-20S/PA-65 M)
2011 Form PA-20S-PA-65 M
2011 PA Schedule M - Reconciliation of Federal-Taxable Income-Loss to PA-Taxable Income-Loss (PA-20S/PA-65 M)
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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.