PRT-PSI: Partnership Schedule K-1, Partner Share of Income (Revision)
Delaware · Delaware Division of Revenue · Used for tax years 2024
Delaware Form PRT-PSI is the 2024 Partnership Schedule K-1, Partner’s Share of Income. It reports a partner’s share of income, losses, deductions, and credits, showing federal Schedule K-1 amounts and the portions derived from Delaware sources.
What you'll need
To complete the 2024 PRT-PSI, have these details available:
- Federal Form 1065 Schedule K-1 amounts and the portions derived from Delaware sources.
- The partner’s and partnership’s taxpayer IDs.
- The partner’s name or business name, address, entity type, and resident or non-resident status.
- The partner’s share of profit, loss, and capital.
- Fiscal-year beginning and ending dates, if applicable.
The form also calls for an attached schedule for other deductions or credits.
Common mistakes
- Do not leave out the supporting schedule when reporting other deductions or credits. The form labels this entry “Attach Schedule.”
Questions people ask
What is the 2024 PRT-PSI used to report?
It is Delaware’s Partnership Schedule K-1, Partner’s Share of Income. It includes the partner’s share of income, deductions, and credits.
How are federal amounts and Delaware-source amounts shown?
Column A is labeled for Federal Form 1065 Schedule K-1 amounts. Column B is labeled for the portion of items derived from sources in Delaware.
How do I calculate total income on this form?
The form directs you to add lines 1 through 11 to calculate total income on line 12.
Does the form ask whether the partner is a Delaware resident?
Yes. It provides “Resident” and “Non-Resident” boxes and asks you to check the applicable box.