Schedule K-1 (Form 58): Schedule K-1 (Form 58) - Partner's Share of North Dakota Income (Loss), Deductions, Adjustments, Credits, and Other Items (2024)
North Dakota · ND Tax Commissioner · Used for tax years 2024
North Dakota Schedule K-1 (Form 58) is a supplemental schedule a partnership provides to its partners. It reports a partner’s share of North Dakota income, losses, deductions, adjustments, credits, and other items, including applicable tax withheld or paid and apportionment infor
Who files this form
North Dakota Schedule K-1 (Form 58) is a supplemental schedule that a partnership provides to its partners. It gives partners information they may need for their North Dakota income tax returns.
- Resident individuals, estates, and trusts: Your entire share of partnership income is subject to North Dakota income tax. This schedule shows your share of North Dakota adjustments and tax credits.
- Nonresident individuals, estates, and trusts: Your share of partnership income apportioned and allocated to North Dakota is subject to North Dakota income tax.
- Business entities: See the instructions for your applicable North Dakota income tax return for filing and payment requirements.
- Tax-exempt organizations: If partnership income is taxable for federal income tax purposes, its North Dakota portion is taxable in North Dakota. You must file Form 40 to report that income and pay any tax due.
If you elected to join the partnership’s composite filing, the composite tax paid satisfies your North Dakota filing and payment obligations for your share of income from that partnership.
What you'll need
- Federal Schedule K-1: The form uses it for the partner’s identifying information and beginning and ending profit and loss percentages.
- North Dakota Schedule K-1 (Form 58): Use it to transfer applicable amounts to your North Dakota return. Attach a copy when reporting withholding from line 41 or claiming composite tax from line 42 as withholding on your own return.
- A statement explaining differences: Attach a statement if an amount reported on your North Dakota return differs from the amount shown on this schedule.
- An amended Schedule K-1, if applicable: Attach a copy to your amended North Dakota return when reporting revised information.
Common mistakes
- Entering line 40 on your return: Do not enter this amount anywhere on your return. It is for your information only.
- Reporting an item marked “Not applicable”: The instructions say these items must not be entered on your return. Use the list for the type of return you are filing.
- Transferring amounts without accounting for federal limits: For Part 4, if only part of an item is included in federal adjusted gross income because of a deduction limit or another reason, report only that portion on your North Dakota return.
- Leaving out an explanation of differences: Attach a statement explaining any difference between an amount on this schedule and the amount reported on your North Dakota return.
- Leaving out a supporting copy: Attach Schedule K-1 when reporting line 41 withholding or claiming line 42 composite tax as withholding.
Questions people ask
Which tax year should I use if the partnership has a fiscal year?
If you file on a calendar-year basis, report the amounts for the year in which the partnership’s fiscal year ends. The instructions give this example: a partnership fiscal year ending in February 2025 means you report the amounts from the 2024 Schedule K-1 on your 2025 return.
What should I do if I elected to join a composite filing?
Keep the schedule for your tax records. The information is for your records only, and the partnership’s composite tax payment satisfies your North Dakota filing and payment obligations for your share of income from that partnership.
What if I receive an amended Schedule K-1?
You generally must file an amended North Dakota income tax return and attach the amended schedule. If you previously elected composite filing and are not changing that election, no action is required. Keep the amended schedule for your records.
Can I claim composite tax if I later file my own North Dakota return?
Yes. The instructions say you may claim the composite tax shown on line 42 as income tax withholding. Attach a copy of Schedule K-1 to support the amount claimed.