Worksheet E for Form IT-204 filers
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Partnerships should use the amounts from federal Form 1065 and its applicable federal attachments to complete Form IT-204 when completing the worksheet below.
| Description | Amount |
|---|---|
| 1 Add the amounts from federal Form 1065, lines 3 and 7 (see instructions) | 1._______ |
| 2 Add the amounts from federal Form 1065, Schedule K, lines 5, 6a, 7, and 11 (see instructions) | 2._______ |
| 3 Add the amounts from federal Forms 8825, line 18a, and 1065, Schedule K, line 3a | 3._______ |
| 4 Add the gain (not loss) amounts from federal Schedule D (Form 1065), column (h), lines 1a through 5, 8a through 12, and 14 (see instructions) | 4._______ |
| 5 Enter the amount from federal Schedule F (Form 1040), line 9 | 5._______ |
| 6 Add the gain (not loss) amounts on federal Form 4797, column (g), lines 2 through 6, 10, and 13 through 16. However, when federal Form 4797 is not filed, but you have amounts reported on federal Form 4684, line 31 or line 38a, include the total gain amount (without netting losses) from those lines. (See instructions) | 6._______ |
| 7 Enter the codes B and C amounts shown in box 14 on all federal Schedule K-1s (Form 1065) you received from partnerships that you are a partner in, less any partnership amounts from such partnerships already included in lines 1 through 6 | 7._______ |
| 8 Enter the partnership share of estate or trust gross income (see instructions) | 8._______ |
| 9 Federal gross income (add lines 1 through 8) | 9._______ |
| 10 Enter the amount from federal Form 1065, line 3 | 10._______ |
| 11 Add the amounts from federal Form 1065, Schedule K, lines 5 and 6a | 11._______ |
| 12 Enter the amount from line 5 above | 12._______ |
| 13 Enter the amount of any pension payments included on federal Form 1065, line 7 | 13._______ |
| 14 Certain partnership gross income (see instructions) | 14._______ |
| 15 Add lines 10 through 14 | 15._______ |
| 16 Excess federal gross income (enter the lesser of line 15 or $30,000) | 16._______ |
| 17 Gross rents from certain rentals of farm property included on federal Forms 8825, line 18a, and 1065, Schedule K, line 3a (see instructions) | 17._______ |
| 18 Add the amounts on federal Form 4797, column (g), that represent gains from the sale of livestock used for draft, breeding, sport, or dairy purposes (see instructions) | 18._______ |
| 19 Enter the code B amount shown in box 14 on federal Schedule K-1 (Form 1065), received from another partnership and code F amount shown in box 14 of federal Schedule K-1 (Form 1041) (see instructions) | 19._______ |
| 20 Enter the amount from line 1 above if this amount represents gross income from (1) the production of maple syrup or cider, (2) the sale of wine, (3) the commercial boarding of horses, (4) the sale of Christmas trees from a managed tree operation, or (5) the sale of cider from a licensed farm cidery, as provided in Alcoholic Beverage Control Law § 58-c (see instructions) | 20._______ |
| 21 Enter the partnership’s share of gross income from (1) the production of maple syrup or cider, (2) the sale of wine, (3) the commercial boarding of horses, (4) the sale of Christmas trees from a managed Christmas tree operation, or (5) the sale of cider from a licensed farm cidery, as provided in Alcoholic Beverage Control Law § 58-c, from a partnership, or estate or trust (see instructions) | 21._______ |
| 22 Gross income from farming (add line 5 and lines 17 through 21) | 22._______ |
| 23 Divide line 22 by line 16, and round the result to the fourth decimal place (see instructions) | 23._______ |
Instructions for Worksheet E
Line 1: If federal Form 1065, line 7, includes both income and loss items, include only the income amounts on line 1. In addition, do not include on line 1 any income from another partnership, an estate, or a trust included on federal Form 1065, line 7.
Line 2: If federal Form 1065, Schedule K, line 11, includes both income and loss items, include only the income amounts on line 2. In addition, do not include on line 2 any income from another partnership, an estate, or a trust included on federal Form 1065, Schedule K, line 11.
Line 4: Include on line 4 only gains used in figuring the amounts reported in column (h) of federal Schedule D. You cannot net loss transactions against gain transactions.
Line 6: Include on line 6 only gains used in figuring the amounts entered in column (g) for federal Form 4797 or on federal Form 4684, line 31 or line 38a. You cannot net loss transactions against gain transactions. Do not include on line 6 any amounts included in line 2 of this worksheet.
Line 8: Obtain this information from the estate or trust. Do not include on line 8 any estate or trust income included in lines 1 through 6 of Worksheet C.
Line 14: If you were a partner in a partnership and your federal Schedule K-1 shows any amount (including a loss) in box 14 under the code A, enter the sum of the codes B and C amounts shown in box 14.
Line 17: Include only gross rents from the rental of farm property, and only if the rental arrangement meets one of the two conditions.
Line 18: Include on line 18 only gains (not losses) reported on federal Form 4797 that represent gains from the sale of livestock used for draft, breeding, sport or dairy purposes. Do not include any other gains reported on federal Form 4797 (such as gains from the sale of farm machinery) even though these gains may be related to your farming business.
Line 19: Do not include gross income from fishing included on federal Schedule K-1 (Form 1065), box 14, code B or federal Schedule K-1 (Form 1041), box 14, code F.
Line 20: Include on line 20 only the amount from line 1 that represents gross income (gross receipts less cost of goods sold). Do not include gross income reported on line 1 that is from other types of businesses or products.
Line 21: Obtain this information from the partnership, or estate or trust.
Line 23: If the line 16 amount is 0 and you have an amount other than 0 on line 22, enter 1.00 (100%) on line 23.