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Page 47 of 52 Fileid: … s/i1040-nr/2023/a/xml/cycle06/source 17:15 - 19-Jan-2024
The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing.
Report this portion of the transfer Line 10 line 10 and any unrecaptured section
on Form 4797, Part II, line 10. Enter 1250 gain on line 11. If the amount
the information from Part I, columns Complete lines 10 through 17 only if entered on line 16 is from line 15, then
(a) and (c), on Form 4797, line 10, the capital gain or loss on line 5 is include in income any collectibles gain
column (a). Enter the information from long term and an amount was on line 13 and any unrecaptured
Part I, columns (e) and (f), on Form reported on your Schedule K-3 (Form section 1250 gain on line 14. See
4797, line 10, columns (b) and (c), 1065), Part XIII, line 4 or 5, or in Forms 4797 and 8949, Schedule D
respectively. Enter the amount from Schedule K-1 (Form 1065), Part III, (Form 1040), and their related
Part II, line 8, on Form 4797, line 10, box 20, for code AC or AD. See the instructions for reporting any
column (g). second bullet under Before You Begin, collectibles gain or unrecaptured
earlier. section 1250 gain.
Line 9
Enter the amount of deemed Line 17
Enter the smaller of line 5 or 7. When outside collectibles gain under section
determining which amount is smaller, 1(h)(5) from Form 8308, Part IV, line 2, Subtract line 16 from line 9. Report
treat both amounts as positive column (c), or from Schedule K-1 this portion of the transfer on Form
numbers. However, enter -0- on line 9 (Form 1065), Part III, box 20, code AC. 8949, Part II, and check box (F).
if either of the following is true. Enter:
• Line 5 is zero or less and line 7 is Line 11 • "From Schedule P (Form 1040-NR)"
greater than zero. on Form 8949, column (a);
• Line 5 is greater than zero and Enter the amount of deemed outside • The information from Part I,
line 7 is zero or less. unrecaptured section 1250 gain under columns (e) and (f), on Form 8949,
section 1(h)(6) from Form 8308, Part columns (b) and (c), respectively;
Report this portion of the transfer IV, line 3, column (c), or from • The amounts from Part II, lines 1
on Form 8949, Part I, if the transfer is Schedule K-1 (Form 1065), Part III, and 2, on Form 8949, columns (d) and
a short-term capital gain or loss, and box 20, code AD. (e), respectively;
Part II, if the transfer is a long-term • The amount from Part II, line 17, on
capital gain or loss, and check box (C) Line 12 Form 8949, column (h);
on Part I or box (F) on Part II, as • On Form 8949, column (g), as an
applicable. Enter: Add lines 10 and 11. adjustment of the difference between
• "From Schedule P (Form 1040-NR)" outside gain or loss (column (d) minus
on Form 8949, column (a); column (e)) and recognized capital
• The information from Part I, Line 13
gain or loss (column (h)), if applicable;
columns (e) and (f), on Form 8949, and
columns (b) and (c), respectively; Enter the amount of the aggregate
• The amounts from Part II, lines 1 effectively connected collectibles gain • Code "P" on Form 8949, column (f),
and 2, on Form 8949, columns (d) and that would be recognized on the if you entered an amount on Form
(e), respectively; deemed sale of section 1(h)(5) 8949, column (g).
• The amount from Part II, line 9, on collectible assets from Schedule K-3 If this is an installment sale, use
Form 8949, column (h); (Form 1065), Part XIII, line 4. Form 6252.
• On Form 8949, column (g), as an
adjustment of the difference between Line 14 Line 18
outside gain or loss (column (d) minus
column (e)) and recognized capital Enter the amount of the aggregate Enter the amount from Schedule K-3
gain or loss (column (h)), if applicable; effectively connected unrecaptured (Form 1065), Part XIII, line 7.
and section 1250 gain that would be Complete this line if the partnership is
• Code "P" on Form 8949, column (f), recognized on the deemed sale of deemed to have sold only U.S. real
if you entered an amount on Form section 1(h)(6) gain assets from property interests as defined under
8949, column (g). Schedule K-3 (Form 1065), Part XIII, section 897(c)(1). Under these
line 5. circumstances, there should be no
If this is an installment sale, use entries on lines 1 through 6 and 8 of
Form 6252. Line 15 Schedule K-3 (Form 1065), Part XIII.
If there’s a long-term capital Enter this amount on Form 8949,
Add lines 13 and 14. Form 4797, and Schedule D, as
CAUTION you’re required to complete
! gain or loss on line 5 and appropriate. If this is an installment
lines 10 through 17, don’t enter this Line 16 sale, use Form 6252.
long-term capital gain or loss on Form You will need to contact the
8949. You will redetermine this If the amount entered on line 9 is from
partnership if there are entries
amount on line 17. line 5, then enter the amount from CAUTION!
on other lines of the
line 12. If the amount entered on line 9
Schedule K-3 (Form 1065), Part XIII,
is from line 7, then enter the amount
in addition to line 7.
from line 15. If the amount entered on
line 16 is from line 12, then include in
income any collectibles gain on
Instructions for Form 1040-NR (2023) 47
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