Get the free 2012 PA Schedule NRK-1 - Nonresident Schedule of Shareholder/Partner/Beneficiary Pas...

PA SCHEDULE NRK-1 1207310051 Nonresident Schedule of Shareholder/ Partner/Beneficiary Pass Through Income, Loss and Credits PA-20S/PA-65 NRK-1 (05-12) (FI) 2012 START Last Name Suffix First Name MI

How to fill out 2012 pa schedule nrk-1

How to fill out 2012 PA schedule NRK-1?

1. Gather necessary information: Before filling out the form, make sure you have all the required information available. This includes your personal details, such as your social security number and address, as well as any relevant income or deductions.
2. Understand the purpose: PA schedule NRK-1 is used to report Pennsylvania-source income for non-resident partners, shareholders, or beneficiaries. It is typically attached to the PA-20S/PA-65 Information Return.
3. Complete the identification section: Start by providing your personal information, including your name, address, Social Security Number or Federal Employer Identification Number (FEIN), and the fiscal year you are reporting.
4. Provide partnership or S corporation details: If you are a non-resident partner or shareholder, include the details of the partnership or S corporation from which you received income. This includes the name and FEIN of the entity.
5. Report Pennsylvania-source income: In this section, you will need to report the various types of income you received from Pennsylvania sources. This may include rental income, royalty income, or income from partnerships or S corporations operating in Pennsylvania. Fill in the appropriate boxes with the corresponding amounts.
6. Claim deductions and credits: If you are eligible for any deductions or credits, indicate them in this section. Common deductions include state taxes paid, business expenses, and certain credits for investments or historic preservation.
7. Calculate your Pennsylvania taxable income: Subtract your deductions and credits from the Pennsylvania-source income to arrive at your Pennsylvania taxable income. Follow the instructions provided by the form to ensure accurate calculations.
8. Complete the payment and signature section: If you have any tax liability after deductions and credits, you may need to make a payment. Fill in the appropriate boxes for payment method and include your signature, certifying the accuracy of the information provided.

Who needs 2012 PA schedule NRK-1?

1. Non-resident partners: If you were a partner in a partnership that generated Pennsylvania-source income in 2012, you will likely need to fill out PA schedule NRK-1.
2. Shareholders of S corporations: If you owned shares in an S corporation that operated in Pennsylvania and allocated income to you in 2012, you will need to use this form.
3. Beneficiaries of trusts or estates: If you received income from a Pennsylvania-source trust or estate in 2012 as a beneficiary, the completion of PA schedule NRK-1 may be required.

Note: It is important to consult with a tax professional or refer to the official instructions accompanying the form to ensure accurate completion and compliance with Pennsylvania tax laws.

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What is pa schedule nrk-1?

PA Schedule NRK-1 is a form used to report nonresident individual partners' (including estate and trust) share of PA taxable income from a PA S corporation, partnership, limited liability company, or similar pass-through entity.

Who is required to file pa schedule nrk-1?

Nonresident individual partners (including estate and trust) who have PA taxable income from a PA pass-through entity are required to file PA Schedule NRK-1.

How to fill out pa schedule nrk-1?

PA Schedule NRK-1 should be filled out with the nonresident individual partner's share of PA taxable income from the pass-through entity.

What is the purpose of pa schedule nrk-1?

The purpose of PA Schedule NRK-1 is to report and calculate the nonresident individual partner's share of PA taxable income from a pass-through entity for tax purposes.

What information must be reported on pa schedule nrk-1?

Information such as nonresident individual partner's share of PA taxable income, PA tax withheld, and any other relevant details must be reported on PA Schedule NRK-1.