Schedule CP: Composite Payments (2024)
Alabama · Alabama DOR · Used for tax years 2024
Alabama Schedule CP is used with Form 40 or Form 40NR to report composite payments and Electing PTE credits. It lists payments made on your behalf by S corporations, partnerships, estates, or trusts and totals the amount to enter on your return.
Who files this form
Complete 2024 Alabama Schedule CP if you are claiming composite payments or Electing PTE credits on Form 40 or Form 40NR.
What you'll need
Have the following information ready:
- Your name as shown on your tax return and your Social Security number.
- The taxpayer’s Social Security number shown on Schedule K-1.
- Whether the taxpayer is a disregarded entity and, if so, that entity’s name and FEIN.
- The name and FEIN of each S corporation, partnership, estate, or trust that made a payment on your behalf.
- The amount each entity paid on your behalf.
Questions people ask
What is Schedule CP used for?
It is used to claim composite payments or Electing PTE credits on Alabama Form 40 or Form 40NR.
Where do I list payments made on my behalf?
Enter the paying entity’s name in Column E, its FEIN in Column F, and the payment amount in Column G.
What do I enter if the taxpayer is a disregarded entity?
Check Column B and enter the disregarded entity’s name in Column C and its FEIN in Column D.
Where do I put the total payments and credits?
Add the amounts in Column G and enter the total in Section B, line 1. Also enter it on Form 40, page 1, line 26, or Form 40NR, page 1, line 23.