AR K-1: Arkansas Income Tax Owner’s Share of Income, Deductions, Credits, Etc. (2024)
Arkansas · Arkansas DFA · Used for tax years 2024
The 2024 Arkansas AR K-1 reports a shareholder’s or partner’s share of income, deductions, credits, and other tax items from an S corporation or partnership. It separately lists the share allocated and apportioned to Arkansas and the share to be reported by Arkansas residents.
What you'll need
The form directs you to attach a statement with additional information.
To complete the form, have the following information available:
- Identification numbers, names, and addresses for the corporation or partnership and the shareholder or partner.
- The owner's Arkansas residency status and, for a nonresident, state of legal residence.
- The shareholder's percentage of stock ownership, or the partner's beginning and ending shares of profit, loss, and capital.
- The Arkansas apportionment percentage.
- The owner's share of income, deductions, credits, distributions, and other listed items, plus Arkansas withholding or other payments.
Questions people ask
What information does the 2024 AR K-1 report?
It reports an Arkansas shareholder's or partner's share of current-year income, deductions, credits, and other items. It also includes information about the corporation or partnership and the owner.
Why does Part III have two columns?
One column is labeled for the distributive share allocated and apportioned to Arkansas. The other is labeled for the distributive share to be reported by Arkansas residents.
What residency information does the form ask for?
The form asks whether the owner is an Arkansas resident. If the owner is a nonresident, it asks for the state of legal residence.
Can the form identify an amended or final K-1?
Yes. The form includes boxes for “Amended K-1” and “Final K-1.”
Where are Arkansas withholding or other payments listed?
Part III includes line 20 for Arkansas withholding or other payments.