N-20 Sch. K1: Partner’s Share of Income, Credits, Deductions, etc. (Form N-20) (2025)
Hawaii · Hawaii DoTax · Used for tax years 2025
Hawaii Schedule K-1 (Form N-20) reports each partner’s share of partnership income, losses, deductions, credits, and other tax items, with amounts attributable to Hawaii and everywhere. It also reports the partner’s ownership percentages, share of liabilities, and capital account
Who files this form
The partnership must prepare a separate Schedule K-1 (Form N-20) for each partner, in triplicate. The form reports the partner’s share of income, credits, deductions, and other items.
The 2025 form is for calendar year 2025 or another tax year beginning in 2025.
What you'll need
Have the information requested on the form ready:
- The partner’s name, address, and Social Security number or federal employer identification number, plus the partnership’s name, address, and federal employer identification number.
- The partner’s type, entity type, profit-sharing and loss-sharing percentages, and ownership percentage of capital.
- The partner’s share of liabilities and capital account information.
- The partner’s share of income, deductions, credits, and other separately reported items, including amounts attributable to Hawaii and amounts attributable everywhere.
For applicable entries, the form calls for Schedule D-1 for net IRC section 1231 gain or loss and attached schedules for other income or loss, charitable contributions, the IRC section 179 deduction, deductions related to portfolio income, and other deductions.
How to file
Prepare Schedule K-1 in three copies for each partner:
- Copy 1: File with Form N-20.
- Copy 2: Partnership copy.
- Copy 3: Partner’s copy.
The supplied form does not provide a mailing address or e-filing directions.
Common mistakes
Do not enter Schedule K-1 information on your tax return without first checking the Partner’s Instructions for Schedule K-1 (Form N-20). The form specifically cautions partners to refer to those instructions before transferring amounts.
Questions people ask
Which partner types are listed on the form?
The form lists general partner, limited partner, LLC member-manager, and other LLC member.
How are Hawaii amounts separated from total amounts?
Column (b) is for amounts attributable to Hawaii. Column (c) is for amounts attributable everywhere.
Can the form identify a final or amended Schedule K-1?
Yes. Item F has separate checkboxes for “Final K-1” and “Amended K-1.”
Where is withholding reported for nonresident partners?
Line 30 reports the credit for Hawaii income tax withheld on Form N-4P and is labeled for nonresident partners only. The form directs that amount to Form N-15, line 54.