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Omit cents - percents should be rounded two decimal places - read apportionment instructions. Part I - Indiana Apportionment of Adjusted Gross Income Column A TOTAL WITHIN INDIANA TOTAL WITHIN and OUTSIDE INDIANA INDIANA PERCENTAGE 1. Enter sum. 4b. c Indiana Apportionment Percentage Divide line 4b by 4 if all three factors are present. Sales between members of an affiliated group filing a consolidated return under IC 6-3-4-14 shall be excluded. The numerator of the receipts factor must...

How to fill out it-20 schedule e flat

How to fill out it-20 schedule e flat

1. To fill out the IT-20 Schedule E flat, follow these steps:
2. Begin by entering the required identification information at the top of the form, including your name, address, and federal employer identification number (FEIN).
3. Provide an overview of your business activities in Part 1, including the type of business and the date it started.
4. In Part 2, report your business income. Include all sources of income related to your business, such as sales revenue, rental income, and interest earned.
5. Deduct any allowable expenses related to your business in Part 3. This may include items like rent, utilities, employee wages, and supplies.
6. Calculate your net income or loss by subtracting your total expenses from your total income.
7. Transfer the net income or loss amount to line 1a of the IT-20 form.
8. If you have any subtractions or additions to your net income, provide the details in Part 4.
9. Complete the remaining sections of the form as necessary, including any applicable credits or deductions.
10. Double-check all the information you have entered and ensure it is accurate and complete.
11. Finally, sign and date the form to certify its accuracy and completeness. Keep a copy for your records and submit the original to the appropriate tax authority.

Who needs it-20 schedule e flat?

1. IT-20 Schedule E flat is needed by businesses that are required to file the IT-20 corporate income tax return in the state of Indiana.
2. It is specifically designed for businesses that have income or loss from rental real estate or royalties earned from patents, copyrights, and other intangible property.
3. If your business is engaged in any of these activities and operates in Indiana, you will need to complete the IT-20 Schedule E flat along with your corporate tax return.
4. It is important to consult with a tax professional or refer to the official guidelines provided by the Indiana Department of Revenue to determine if you are required to file this schedule.

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