Screen MTAlloc - Montana Allocated Amounts (1065)

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Allocated Items

Use this section to indicate whether or not the partnership’s rental, royalty, and passthrough entity activities are business or nonbusiness.
Rental real estate activity is nonbusiness
Enter
X
to indicate that rental real estate income is nonbusiness. The application allocates the everywhere and Montana amounts of farm rental and rental real estate income based on the state postal code entered in the federal 4835 Screen and Rent Screen. If this field is not marked, the application uses federal rental real estate income multiplied by the Montana apportionment percentage to calculate state source income.
Other rental activity is nonbusiness
Enter
X
to indicate that other rental income is nonbusiness. The application allocates the everywhere and Montana amounts of other rental income based on the state postal code entered in the federal Rent Screen. If this field is not marked, the application uses federal other rent income multiplied by the Montana apportionment percentage to calculate state source income.
Royalty activity is nonbusiness
Enter
X
to indicate that royalty income is nonbusiness. The application allocates the everywhere and Montana amounts of royalty income based on the state postal code entered in the federal Rent Screen. If this field is not marked, the application uses the federal royalty income multiplied by the Montana apportionment percentage to calculate state source income.

Nonbusiness Income

Use this section to enter nonbusiness income (loss) and deductions allocable directly to Montana and everywhere from this partnership. Do not include amounts from passthrough entities. Allocate passthrough income and deductions in the MTK1 Screen and MTK1-2 Screen.

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