Idaho State Tax Commission

Idaho State Tax Commission

2004 Form 65 instructions require correction

The 2004 Form 65 instructions require correction.

Line 13 Portfolio Income

The instructions for line 13 should not have included the amounts from lines 6b and 9b from the Form 1065 in the computation since these amounts are already in the amount for lines 6a and 9a, respectively. The instructions should have read as follows:

Enter your net portfolio income or loss from form 1065, Schedule K, lines 5, 6a, 7, 8, and 9a. Line 14 Other Income

The instructions for line 14 should not have included the amount from line 9c from the Form 1065 in computation since this amount is included in the amount for line 10. The instructions should have read as follows:

Enter your other income from Form 1065, Schedule K, lines 10 and 11. Income any other income or loss required to be reported separately to partners from the federal Form 1065, Schedule K, line 20c. Line 15 Deductions

The instructions for line 15 should have indicated that the lesser of line 13c or 20a less 20b, should not be included at less than zero. The instructions should have read as follows:

Add the amounts from the following lines on Form 1065, Schedule K and enter the total on line 15: Lines 12, 13a, 13b, 13e, and the lesser of:

  • the amount from line 13c or
  • the amount from line 20a less 20b (but not less than zero).

Posted 03-08-2005

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