Worksheet 5 for Form IT-204 filers
Form IT-217 and IT-649 filers do not fill out this worksheet. Instead, the partners will use the partnership's gross income and gross income from farming along with their own income to determine if they are an eligible farmer.
Include only income and gains in the line calculations. If federal amounts include both income and loss items, only include the income when entering amounts. You cannot net loss transactions against gain transactions.
Do not include any payments from the Farmland Protection Program (administered by the New York State Department of Agriculture and Markets).
| Description | Amount |
|---|---|
| 1 Add the amounts from federal Form 1065, lines 3 and 7 (see instructions) | 1._______ |
| 2 Add the amounts from federal Form 1065, Schedule K, lines 5, 6a, 7, and 11 (see instructions) | 2._______ |
| 3 Add the amounts from federal Forms 8825, line 20a, and 1065, Schedule K, line 3a | 3._______ |
| 4 Add the gain (not loss) amounts from federal Schedule D (Form 1065), column (h), lines 1a through 5, 8a through 12, and 14 | 4._______ |
| 5 Enter the income (not loss) amount from federal Schedule F, line 9 | 5._______ |
| 6 Add the gain (not loss) amounts from federal Form 4797, column (g), lines 2 through 6, 10, and 13 through 16. However, when federal Form 4797 is not filed, but you have amounts reported on federal Form 4684, line 31 or line 38a, include the total gain amount (without netting losses) from those lines. (see instructions) | 6._______ |
| 7 Enter the code B and C amounts shown in box 14 on all federal Schedule K-1s (Form 1065) you received from partnerships that you are a partner in, less any partnership amounts from such partnerships already included in lines 1 through 6 | 7._______ |
| 8 Enter the partnership share of estate or trust gross income (see instructions) | 8._______ |
| 9 Federal gross income (add lines 1 through 8) | 9._______ |
| 10 Excess federal gross income (see instructions) | 10._______ |
| 11 Gross rents from certain rentals of farm property included on federal Forms 8825, line 20a, and 1065, Schedule K, line 3a (see instructions) | 11._______ |
| 12 Add the amounts from federal Form 4797, column (g), that represent gains from the sale of livestock used for draft, breeding, sport, or dairy purposes (see instructions) | 12._______ |
| 13 Enter the code B amount shown in box 14 on federal Schedule K-1s (Form 1065), received from another partnership and code F amount shown in box 14 of federal Schedule K-1s (Form 1041) (see instructions) | 13._______ |
| 14 Enter the amount from line 1 that represents gross income from the production of maple syrup or cider, the sale of wine, the commercial boarding of horses, the sale of Christmas trees from a managed tree operation, or the sale of cider from a licensed farm cidery, as provided in Alcoholic Beverage Control Law § 58-c (see instructions) | 14._______ |
| 15 Enter the partnership’s share of gross income from the production of maple syrup or cider, the sale of wine, the commercial boarding of horses, the sale of Christmas trees from a managed Christmas tree operation, or the sale of cider from a licensed farm cidery, as provided in Alcoholic Beverage Control Law § 58-c, from a partnership, or estate or trust (see instructions) | 15._______ |
| 16 Gross income from farming (add line 5, and lines 11 through 15) | 16._______ |
| 17 Divide line 16 by line 10, and round the result to the fourth decimal place (see instructions) | 17._______ |
Instructions for Worksheet 5
Line 1: Do not include any income from another partnership, an estate, or a trust included on federal Form 1065, line 7.
Line 2: Do not include any income from another partnership, an estate, or a trust included on federal Form 1065, Schedule K, line 11.
Line 6: Do not include any amounts included in line 2 of this worksheet.
Line 8: Obtain this information from the estate or trust. Do not include any estate or trust income included in lines 1 through 6.
Line 10:
Form IT-212 filers: Complete the Excess Gross Income Worksheet. Subtract the last line of Excess Gross Income Worksheet from line 9 and enter the result here.
Form IT-647 or IT-661 filers: Subtract $30,000 from line 9 and enter the result here. If line 9 is less than $30,000, enter 0.
Line 11: Include only gross rents from the rental of farm property, and only if the rental arrangement meets one of two conditions.
Line 12: Do not include any other gains reported on federal Form 4797 (such as gains from the sale of farm machinery) even though these gains may be related to your farming business.
Line 13: Do not include gross income from fishing included on federal Schedule K-1s (Form 1065), box 14, code B or federal Schedule K-1s (Form 1041), box 14, code F.
Line 14: Include only the amount from line 1 that represents gross income (gross receipts less cost of goods sold). Do not include gross income reported on line 1 that is from other types of businesses or products.
Line 15: Obtain this information from the partnership, or estate or trust.
Line 17: If the line 10 amount is 0 and you have an amount other than 0 on line 16, enter 1.00 (100%).