84-131: Schedule K (2024)
Mississippi · Mississippi DOR · Used for tax years 2024
Mississippi Form 84-131, Schedule K, is a 2024 schedule for partnerships, LLCs, LLPs, and S corporations. It reports partners' or shareholders' ownership percentages, states of residence, Mississippi taxable income or loss, tax credits, and tax paid by an electing pass-through en
What you'll need
Have the following information ready for the 2024 Schedule K:
- The entity’s name and FEIN.
- Each partner’s or shareholder’s name and FEIN or SSN.
- Each owner’s state of residence and whether the composite box applies.
- Ownership percentages to the fourth decimal place.
- Mississippi taxable income or loss.
- Credit codes and credit amounts.
- Tax paid by the electing pass-through entity.
Page 2 provides additional space for partner or shareholder entries.
Common mistakes
Follow these directions printed on the schedule:
- Enter ownership percentages to the fourth decimal place.
- Check the composite box where applicable.
- Carry supplemental-page totals to page 1, line 3.
- If composite, enter the total composite income or loss from Schedule K, line 4a, on Form 84-122, page 2, line 29.
Questions people ask
Which entity types are listed on the schedule?
The form lists Partnership / LLC / LLP (Federal 1065) and S Corporation (Federal 1120-S).
What if I need more space for partners or shareholders?
Use the supplemental page, page 2. Its subtotal instruction directs you to enter the totals on Form 84-131, page 1, line 3.
Where do I report tax paid by the electing pass-through entity?
Report it in column D. Line 5 totals the column D amounts from line 2 and line 3.
How do I calculate total Mississippi taxable income or loss and total tax credits?
Line 4 directs you to combine the column C amounts from line 2 and line 3.