CCH Axcess Tax

CT Schedule K-1 Equivalent

Notes:

Schedule CT K-1 is prepared for each member. Member types NI, NT, NE, and PE complete Parts I, II and III. Member types RI, RT, RE complete Part I. Member type CM completes none of the three.
Overrides for some lines are available using the Partners- Federal / State Schedule K-1 Overrides worksheet.

Government Form		CCH Axcess Input
		Worksheet	Section	Field
Fiscal year beginning		General > Basic Data	General	Fiscal year dates > Beginning
Fiscal year ending		General > Basic Data	General	Fiscal year dates > Ending
Partnership’s name		General > Basic Data	General	Partnership name
Partnership’s address		General > Basic Data	General	Street address
Partnership’s city, state,ZIP code		General > Basic Data	General	City State ZIP code
Partnership’s federal ID number		General > Basic Data	General	Identification number
Partner’s name		Partners > Partner Information	Partner Information > Detail > Basic Partner Data	Name
Partner’s address		Partners > Partner Information	Partner Information > Detail > Basic Partner Data	Street address
Partner’s city, state, ZIP code		Partners > Partner Information	Partner Information > Detail > Basic Partner Data	City State ZIP/Postal code
Partner’s federal ID number		Partners > Partner Information	Partner Information > Detail > Basic Partner Data	Identification number
SSN or FEIN	Individuals and Grantor Trusts automatically SSN – all others FEIN. To force a partner to FEIN, use the following:
SSN or FEIN		Common State > Generic state schedule K-1 information	Generic Partner Input	Check box 1 – Override(Partner number also required)
Amended/Final		General > Basic Data	General	Amended Final
	OR
		Connecticut > General	Basic Data	Amended return Final return
	OR
		Partners > Partner Information	Partner Information > Detail > Basic Partner Data	Amended Schedule K-1 Final Schedule K-1
	OR
		Common State > Generic state schedule K-1 information	Generic Partner Input	Amended - Override Final - Override
Type of member		Partners > Partner Information	Partner Information > Detail > Basic Partner Data	Partner entity type Residence determined by State code or State if different code
Type of member	PE is checked if Partner Entity type = {P}, {A}, {S}, {L}, or {N}. CM is checked if Partner Entity type = {C}, {M}, {R}, {Q}, {K}or {H} When Partner Entity type = {O}, 'RI' is checked for residents and 'NI' is checked for nonresidents.
Note: Distributive share items are allocated in the following order: Connecticut special allocation code; Federal special allocation code, default – partner’s profit or loss sharing ratio.
Part I – Connecticut Modifications
Additions
1 Interest on non-CT state/local obligations		Income / Deductions > Interest	Interest	Tax exempt interest State <> CT
	OR
		Connecticut > Income / Deductions	Additions	Interest on state and local obligations other than Connecticut - Override
2 Mutual fund exempt interest dividends		Income / Deductions > Dividends	Dividends	Tax exempt interest State <> CT
	OR
		Connecticut > Income / Deductions	Additions	Exempt interest dividends on state and local obligations other than Connecticut - Override
3 Deductions relating to income exempt from CT income tax		Connecticut > Income / Deductions	Additions	Certain deductions relating to income exempt from Connecticut tax
4 Section 168(k) federal bonus depreciation deduction allowed for property placed in service during this year		Connecticut > Income / Deductions	Additions	Bonus depreciation addback - Override
5 80% of section 179 federal deduction		Connecticut > Income / Deductions	Additions	Section 179 deduction - Override
6 Other - specify		Connecticut > Income / Deductions	Other Additions
Subtractions
7 Interest on U.S. govt. obligations		Income / Deductions > Interest	Interest	U.S. bonds and obligations
	OR
		Connecticut > Income / Deductions	Subtractions	Interest on U.S. obligations - Override
8 Exempt dividends – mutual funds derived from U.S. govt. obligations		Connecticut > Income / Deductions	Subtractions	Exempt dividends for certain qualifying mutual funds
9 Expenses related to income exempt from federal income tax bus subject to CT tax		Connecticut > Income / Deductions	Subtractions	Certain expenses relating to income exempt from federal tax
10 25% of section 168(k) federal bonus depreciation deduction added back in preceding three years		Connecticut > Income / Deductions	Disallowed Bonus Depreciation	Certain expenses relating to income exempt from federal tax
11 25% of section 179 federal deduction added back in preceding two years		Connecticut > Income / Deductions	Disallowed Section 179 Depreciation	Certain expenses relating to income exempt from federal tax
12 Other - specify		Connecticut > Income / Deductions	Other Subtractions
Part II – Connecticut Sourced Portion of Items from Federal Schedule K-1
Note: Column A from federal Schedule K-1. Column B from other sources shown.
1 Ordinary business income (loss)		Common State > Nonresident Schedule K-1	Income	Ordinary income
	OR
	Form 1065, Schedule K-1, line 1
2 Net rental real estate income (loss)		Common State > Nonresident Schedule K-1	Income	Income from rental real estate
	OR
	Form 1065, Schedule K-1, line 2
3 Other net rental income (loss)		Common State > Nonresident Schedule K-1	Income	Income from other rentals
	OR
	Form 1065, Schedule K-1, line 3
4 Guaranteed payments		Common State > Nonresident Schedule K-1	Other Income	Guaranteed payments
	OR
	Form 1065, Schedule K-1, line 4
5 Interest income		Common State > Nonresident Schedule K-1	Portfolio Income	Interest income
	OR
	Form 1065, Schedule K-1, line 5
6a Ordinary dividends		Common State > Nonresident Schedule K-1	Portfolio Income	Dividend income
	OR
	Form 1065, Schedule K-1, line 6a
6b Qualified dividends		Connecticut > Income / Deductions	Source Income for CT-1065SI	Qualified dividends
	OR
	Form 1065, Schedule K-1, line 6b
7 Royalties		Common State > Nonresident Schedule K-1	Portfolio Income	Royalties
	OR
	Form 1065, Schedule K-1, line 7
8 Net short-term capital gain (loss)		Common State > Nonresident Schedule K-1	Portfolio Income	Net short term capital gain or (loss)
	OR
	Form 1065, Schedule K-1, line 8
9a Net long-term capital gain (loss)		Common State > Nonresident Schedule K-1	Portfolio Income	Net long term capital gain of (loss)
	OR
	Form 1065, Schedule K-1, line 9a
9b Collectibles 28% gain (loss)		Connecticut > Income / Deductions	Source Income for CT-1065SI	Collectibles 28%
	OR
	Form 1065, Schedule K-1, line 9b
9c Unrecaptured section 1250 gain		Connecticut > Income / Deductions	Source Income for CT-1065SI	Unrecaptured sec 1250 gain
	OR
	Form 1065, Schedule K-1, line 9c
10 Net section 1231 gain (loss)		Common State > Nonresident Schedule K-1	Other Income	Gain or (loss) under Section 1231
	OR
	Form 1065, Schedule K-1, line 10
11 Other income (loss)		Common State > Nonresident Schedule K-1	Other Income	Other income
	OR
	Form 1065, Schedule K-1, line 11
12 Section 179 deduction		Common State > Nonresident Schedule K-1	Deduction	Expense deductions for recovery property
	OR
	Form 1065, Schedule K-1, line 12
13 Other deductions		Common State > Nonresident Schedule K-1	Deduction	Other deductions
	OR
	Form 1065, Schedule K-1, line 13
Part III – Connecticut PE Tax Credit Information
1 Member’s CT income tax liability	Form CT-1065/CT-1120SI Part I, Schedule B, Column F
Part IV – Elective Composite Income Tax Information
Note: Part IV is completed for nonresident individuals (NIs) only.
1. Composite Income Tax payment made by PE on behalf of nonresident individual (NI) member	Calculated	Schedule CT-NR, Column E
Part V – Connecticut Income Tax credit Summary
1. Reserved
2. Reserved
3. Angel Investor tax credit		Connecticut > General	Business Information	Angel Investor (8068)
4. Insurance reinvestment fund tax credit		Connecticut > General	Business Information	Insurance reinvestment Fund (8070)
5. Total credits	Calculated
Part IV – Additional Information Required to be Reported to Nonresident, Noncorporate Members and PE Members
1. Member's portion of CT PE tax payments deducted in calculated income/(loss) for federal purposes	Calculated	Form CT-1065/CT-1120SI, Part V, Line 13

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