DP-120-P: Computation of Partnership Gross Business Profits (2025)
New Hampshire · New Hampshire DRA · Used for tax years 2025
Form DP-120-P computes New Hampshire gross business profits for partnerships that are non-consolidated members of a combined group. It combines income and deductions from federal Form 1065, Schedule K, with other includible income to calculate the amount reported on NH-1120-WE, S
Who files this form
Form DP-120-P is for non-consolidated partnership members of a combined group to compute partnership gross business profits. For tax year 2025, file one form combining all partnership entities reporting as part of the combined returns.
What you'll need
Have the following ready:
- Federal Form 1065, Schedule K, for the income and deduction amounts used on DP-120-P.
- Details of any other income or loss not reported on Schedule K that should be included in gross business profits.
- A statement detailing each partnership entity separately, similar to the method used for consolidated federal pages. Include this with the combined form.
- The business organization name, taxpayer identification number, and beginning and ending dates if using a taxable period other than calendar year 2025.
Common mistakes
- Do not enter cents. The form says to round to the nearest whole dollar.
- Do not file a separate DP-120-P for each partnership in the combined returns. File one form combining all partnership entities.
- Do not leave out the required statement detailing each entity separately.
Questions people ask
What federal information does DP-120-P use?
The form uses income and deductions from Federal Form 1065, Schedule K. Line 1(l) also asks for other income or loss not reported on Schedule K that should be included in gross business profits.
How do I calculate the total?
Combine lines 1(a) through 1(l), then subtract the sum of lines 1(m) through 1(r). Report the result on NH-1120-WE, Schedule I-A, line 3.
Can all partnership contributions be included on line 1(n)?
No. Include contributions reported on Federal Form 1065, Schedule K, lines 13(a) and 13(b) only to the extent they were made in the partnership's name to enhance its goodwill, and not for a partner's benefit.
Can I use the form for a period other than calendar year 2025?
The form provides spaces for the beginning and ending dates of another taxable period, using MMDDYYYY format.