Form
1120S
Department of the Treasury Internal Revenue Service
U.S. Income Tax Return for an S Corporation
2014
Do not file this form unless the corporation has filed or is attaching Form 2553 to elect to be an S corporation. a Information about Form 1120S and its separate instructions is at www.irs.gov/form1120s.
For calendar year 2014 or tax year beginning A S election effective date
/
OMB No. 1545-0123
a
/
B Business activity code number (see instructions)
, 2014, ending
, 20
Name
TYPE
D Employer identification number
DANA INC
73-8264911 E Date incorporated
Number, street, and room or suite no. If a P.O. box, see instructions.
OR PRINT
123 ANYSTREET
01/15/2013
City or town, state or province, country, and ZIP or foreign postal code
DIME BOX, GA 30907
C Check if Sch. M-3 attached
F Total assets (see instructions)
125000
$
Yes x No If “Yes,” attach Form 2553 if not already filed G Is the corporation electing to be an S corporation beginning with this tax year? (4) (3) (5) Name change Address change S election termination or revocation Final return (2) Amended return H Check if: (1) a I Enter the number of shareholders who were shareholders during any part of the tax year . . . . . . . . . 2 Caution. Include only trade or business income and expenses on lines 1a through 21. See the instructions for more information.
1a
1100000 . . . . . . . . . . . . . . 1a . . . . . . . . . . . . . . 1b Balance. Subtract line 1b from line 1a . . . . . . . . . . . . . . . . . . . 1c Cost of goods sold (attach Form 1125-A) . . . . . . . . . . . . . . . . . . 2 Gross profit. Subtract line 2 from line 1c . . . . . . . . . . . . . . . . . . 3 Net gain (loss) from Form 4797, line 17 (attach Form 4797) . . . . . . . . . . . . 4 Other income (loss) (see instructions—attach statement) . . . . . . . . . . . . . 5 Total income (loss). Add lines 3 through 5 . . . . . . . . . . . . . . . . a 6 Compensation of officers (see instructions—attach Form 1125-E) . . . . . . . . . . 7 Salaries and wages (less employment credits) . . . . . . . . . . . . . . . . 8 Repairs and maintenance . . . . . . . . . . . . . . . . . . . . . . . 9 Bad debts . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Rents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Taxes and licenses . . . . . . . . . . . . . . . . . . . . . . . . . 12 Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Depreciation not claimed on Form 1125-A or elsewhere on return (attach Form 4562) . . . . 14 Depletion (Do not deduct oil and gas depletion.) . . . . . . . . . . . . . . . 15 Advertising . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Pension, profit-sharing, etc., plans . . . . . . . . . . . . . . . . . . . . 17 Employee benefit programs . . . . . . . . . . . . . . . . . . . . . . 18 Other deductions (attach statement) . . . . . . . . . . . . . . . . . . . 19 Total deductions. Add lines 7 through 19 . . . . . . . . . . . . . . . . a 20 Ordinary business income (loss). Subtract line 20 from line 6 . . . . . . . . . . . 21 Excess net passive income or LIFO recapture tax (see instructions) . . 22a Tax from Schedule D (Form 1120S) . . . . . . . . . . . 22b Add lines 22a and 22b (see instructions for additional taxes) . . . . . . . . . . . . 22c 2014 estimated tax payments and 2013 overpayment credited to 2014 23a Tax deposited with Form 7004 . . . . . . . . . . . . 23b Credit for federal tax paid on fuels (attach Form 4136) . . . . . 23c Add lines 23a through 23c . . . . . . . . . . . . . . . . . . . . . . 23d Estimated tax penalty (see instructions). Check if Form 2220 is attached . . . . . . a 24 Amount owed. If line 23d is smaller than the total of lines 22c and 24, enter amount owed . . 25 Overpayment. If line 23d is larger than the total of lines 22c and 24, enter amount overpaid . . 26 Enter amount from line 26 Credited to 2015 estimated tax a Refunded a 27 Gross receipts or sales .
Tax and Payments
Deductions (see instructions for limitations)
Income
b Returns and allowances
c 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 a b c 23 a b c d 24 25 26 27
1100000 1100000 150000 550000 20000 50000 50000 50000
50000 100000 1020000 80000
Paid Preparer Use Only
F
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. May the IRS discuss this return with the preparer shown below (see instructions)?
F
Sign Here
1100000
PRESIDENT
Date
Signature of officer
Print/Type preparer’s name
Preparer's signature
Date
05/12/2015 Firm’s name
a
Firm's address
a
-
No
PTIN Check if self-employed Firm's EIN
For Paperwork Reduction Act Notice, see separate instructions. QNA
x
Yes
Title
Phone no.
-
-
a
-
-
Form 1120S (2014)
DANA INC
73-8264911
Form 1120S (2014)
Schedule B 1
Page
Check accounting method:
a c See the instructions and enter the: a Business activity a
2 3
Yes No
Cash b Accrual Other (specify) a b Product or service a
At any time during the tax year, was any shareholder of the corporation a disregarded entity, a trust, an estate, or a nominee or similar person? If "Yes," attach Schedule B-1, Information on Certain Shareholders of an S Corporation . . At the end of the tax year, did the corporation:
4
a Own directly 20% or more, or own, directly or indirectly, 50% or more of the total stock issued and outstanding of any foreign or domestic corporation? For rules of constructive ownership, see instructions. If “Yes,” complete (i) through (v) below . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (i) Name of Corporation
(ii) Employer Identification Number (if any)
(iii) Country of Incorporation
(iv) Percentage of Stock Owned
(i) Name of Entity
(ii) Employer Identification Number (if any)
(iv) Country of Organization
(iii) Type of Entity
7
X
X
(v) Maximum Percentage Owned in Profit, Loss, or Capital
5 a At the end of the tax year, did the corporation have any outstanding shares of restricted stock? . . . . . . . If “Yes,” complete lines (i) and (ii) below. (i) Total shares of restricted stock . . . . . . . . . a (ii) Total shares of non-restricted stock . . . . . . . . a b At the end of the tax year, did the corporation have any outstanding stock options, warrants, or similar instruments? If “Yes,” complete lines (i) and (ii) below. (i) a Total shares of stock outstanding at the end of the tax year (ii) Total shares of stock outstanding if all instruments were executed
X
(v) If Percentage in (iv) is 100%, Enter the Date (if any) a Qualified Subchapter S Subsidiary Election Was Made
b Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust? For rules of constructive ownership, see instructions. If “Yes,” complete (i) through (v) below . . . . . . .
6
2
Other Information (see instructions)
.
X
.
X
a
Has this corporation filed, or is it required to file, Form 8918, Material Advisor Disclosure Statement, to provide information on any reportable transaction? . . . . . . . . . . . . . . . . . . . . . . . . Check this box if the corporation issued publicly offered debt instruments with original issue discount . . . . a
X
If checked, the corporation may have to file Form 8281, Information Return for Publicly Offered Original Issue Discount Instruments. If the corporation: (a) was a C corporation before it elected to be an S corporation or the corporation acquired an asset with a basis determined by reference to the basis of the asset (or the basis of any other property) in the hands of a C corporation and (b) has net unrealized built-in gain in excess of the net recognized built-in gain from prior years, enter the net unrealized built-in gain reduced by net recognized built-in gain from prior years (see instructions) . . . . . . . . . . . . . . . a $ $ 9 Enter the accumulated earnings and profits of the corporation at the end of the tax year. 10 Does the corporation satisfy both of the following conditions? a The corporation’s total receipts (see instructions) for the tax year were less than $250,000 . . . . . . . . . . b The corporation’s total assets at the end of the tax year were less than $250,000 . . . . . . . . . . . . If “Yes,” the corporation is not required to complete Schedules L and M-1. 8
11
During the tax year, did the corporation have any non-shareholder debt that was canceled, was forgiven, or had terms modified so as to reduce the principal amount of the debt? . . . . . . . . . . . . . . . . If “Yes,” enter the amount of principal reduction $ 12 During the tax year, was a qualified subchapter S subsidiary election terminated or revoked? If “Yes,” see instructions 13 a Did the corporation make any payments in 2014 that would require it to file Form(s) 1099? . . . . . . . . . b If “Yes,” did the corporation file or will it file required Forms 1099? . . . . . . . . . . . . . . . . QNA
the . . . .
X X X X
Form 1120S (2014)
DANA INC
73-8264911
Form 1120S (2014)
Credits
Deductions
Income (Loss)
Schedule K
Ordinary business income (loss) (page 1, line 21) . . . . . . . . . . . . . Net rental real estate income (loss) (attach Form 8825) . . . . . . . . . . . Other gross rental income (loss) . . . . . . . . . . 3a Expenses from other rental activities (attach statement) . . 3b Other net rental income (loss). Subtract line 3b from line 3a . . . . . . . . . Interest income . . . . . . . . . . . . . . . . . . . . . . . Dividends: a Ordinary dividends . . . . . . . . . . . . . . . . . . b Qualified dividends . . . . . . . . . . 5b 6 Royalties . . . . . . . . . . . . . . . . . . . . . . . . . 7 Net short-term capital gain (loss) (attach Schedule D (Form 1120S)) . . . . . . . 8 a Net long-term capital gain (loss) (attach Schedule D (Form 1120S)) . . . . . . . b Collectibles (28%) gain (loss) . . . . . . . . . . . 8b c Unrecaptured section 1250 gain (attach statement) . . . . 8c 9 Net section 1231 gain (loss) (attach Form 4797) . . . . . . . . . . . . . 10 Other income (loss) (see instructions) . . Type a 11 Section 179 deduction (attach Form 4562) . . . . . . . . . . . . . . . 12a Charitable contributions . . . . . . . . . . . . . . . . . . . . b Investment interest expense . . . . . . . . . . . . . . . . . . . c Section 59(e)(2) expenditures (1) Type a (2) Amount a d Other deductions (see instructions) . . . Type a 13a Low-income housing credit (section 42(j)(5)) . . . . . . . . . . . . . . b Low-income housing credit (other) . . . . . . . . . . . . . . . . . c Qualified rehabilitation expenditures (rental real estate) (attach Form 3468, if applicable) . d Other rental real estate credits (see instructions) Type a e Other rental credits (see instructions) . . . Type a
Foreign Transactions Alternative Minimum Tax (AMT) Items Items Affecting Shareholder Basis
Biofuel producer credit (attach Form 6478) Other credits (see instructions) . . . . Name of country or U.S. possession a
. .
3
Total amount
1 2 3a b c 4 5
f g 14a b c
QNA
Page
Shareholders’ Pro Rata Share Items
. . . . Type a
.
.
.
.
.
.
. .
1 2
. . .
3c 4 5a
. . .
6 7 8a
.
9 10 11 12a 12b
. . .
80000 50000
100000
20000
12c(2)
. . .
12d 13a 13b 13c 13d 13e 13f 13g
.
.
.
.
Gross income from all sources . . . . . . . . . . . . . . . . Gross income sourced at shareholder level . . . . . . . . . . . . Foreign gross income sourced at corporate level d Passive category . . . . . . . . . . . . . . . . . . . . e General category . . . . . . . . . . . . . . . . . . . . f Other (attach statement) . . . . . . . . . . . . . . . . . . Deductions allocated and apportioned at shareholder level g Interest expense . . . . . . . . . . . . . . . . . . . . . h Other . . . . . . . . . . . . . . . . . . . . . . . . Deductions allocated and apportioned at corporate level to foreign source income i Passive category . . . . . . . . . . . . . . . . . . . . j General category . . . . . . . . . . . . . . . . . . . . k Other (attach statement) . . . . . . . . . . . . . . . . . . Other information l Total foreign taxes (check one): a Paid Accrued . . . . . . . m Reduction in taxes available for credit (attach statement) . . . . . . . . n Other foreign tax information (attach statement) 15a Post-1986 depreciation adjustment . . . . . . . . . . . . . . . b Adjusted gain or loss . . . . . . . . . . . . . . . . . . . c Depletion (other than oil and gas) . . . . . . . . . . . . . . . d Oil, gas, and geothermal properties—gross income . . . . . . . . . . e Oil, gas, and geothermal properties—deductions . . . . . . . . . . . f Other AMT items (attach statement) . . . . . . . . . . . . . . . 16a Tax-exempt interest income . . . . . . . . . . . . . . . . . b Other tax-exempt income . . . . . . . . . . . . . . . . . . c Nondeductible expenses . . . . . . . . . . . . . . . . . . d Distributions (attach statement if required) (see instructions) . . . . . . . e Repayment of loans from shareholders . . . . . . . . . . . . . .
. .
. .
. .
14b 14c
. . .
. . .
. . .
14d 14e 14f
. .
. .
. .
14g
. . .
. . .
. . .
14i 14j 14k
. .
. .
. .
14l 14m
. . . . . . . . . . .
. . . . . . . . . . .
. . . . . . . . . . .
15a 15b 15c 15d 15e 15f 16a 16b 16c 16d 16e
14h
10000 20000 165000 Form 1120S (2014)
DANA INC
73-8264911
Form 1120S (2014)
ReconOther ciliation Information
Schedule K
Page
17a b c d
Investment income . . . . . . . . . . . . . . . Investment expenses . . . . . . . . . . . . . . Dividend distributions paid from accumulated earnings and profits Other items and amounts (attach statement)
18
Income/loss reconciliation. Combine the amounts on lines 1 through 10 in the far right column. From the result, subtract the sum of the amounts on lines 11 through 12d and 14l
Schedule L
Assets
(a)
1 2a b 3 4 5 6 7 8 9 10a b 11a b 12 13a b 14 15
Cash . . . . . . . . . . . . Trade notes and accounts receivable . . Less allowance for bad debts . . . . . Inventories . . . . . . . . . . U.S. government obligations . . . . . Tax-exempt securities (see instructions) . Other current assets (attach statement) . . Loans to shareholders . . . . . . . Mortgage and real estate loans . . . . Other investments (attach statement) . . Buildings and other depreciable assets . . Less accumulated depreciation . . . . Depletable assets . . . . . . . . Less accumulated depletion . . . . . Land (net of any amortization) . . . . . Intangible assets (amortizable only) . . . Less accumulated amortization . . . . Other assets (attach statement) . . . . Total assets . . . . . . . . . . Liabilities and Shareholders’ Equity
16 17 18 19 20 21 22 23 24 25 26 27
Accounts payable . . . . . . . . . Mortgages, notes, bonds payable in less than 1 year Other current liabilities (attach statement) . . Loans from shareholders . . . . . . . Mortgages, notes, bonds payable in 1 year or more Other liabilities (attach statement) . . . . Capital stock . . . . . . . . . . . Additional paid-in capital . . . . . . . Retained earnings . . . . . . . . . Adjustments to shareholders’ equity (attach statement) Less cost of treasury stock . . . . . . Total liabilities and shareholders’ equity . .
QNA
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
17a 17b 17c
Beginning of tax year
Balance Sheets per Books . . . . . . . . . . . . . . . . . . .
210000
18 End of tax year
(b)
(c)
(d)
60000
65000
20000 (
4
Total amount
Shareholders’ Pro Rata Share Items (continued)
40000 )
20000 (
)
40000
20000
(
)
(
)
(
)
(
)
(
)
(
)
80000
125000
20000
18000 12000
60000
60000 35000
(
)
80000
(
)
125000 Form 1120S (2014)
DANA INC
73-8264911
Form 1120S (2014)
Schedule M-1
Page
5
Reconciliation of Income (Loss) per Books With Income (Loss) per Return Note. The corporation may be required to file Schedule M-3 (see instructions)
1
Net income (loss) per books
2
Income included on Schedule K, lines 1, 2, 3c, 4, 5a, 6, 7, 8a, 9, and 10, not recorded on books this year (itemize)
3
a b 4
.
.
.
.
.
.
Expenses recorded on books this year not included on Schedule K, lines 1 through 12 and 14l (itemize): Depreciation $ Travel and entertainment $ 20000 Add lines 1 through 3
Schedule M-2
.
.
.
.
.
.
.
.
200000 5 Income recorded on books this year not included on Schedule K, lines 1 through 10 (itemize): 10000 a Tax-exempt interest $
10000 6 Deductions included on Schedule K, lines 1 through 12 and 14l, not charged against book income this year (itemize):
a Depreciation $
20000 7 Add lines 5 and 6 . . . . . 220000 8 Income (loss) (Schedule K, line 18). Line 4 less line 7
Analysis of Accumulated Adjustments Account, Other Adjustments Account, and Shareholders’ Undistributed Taxable Income Previously Taxed (see instructions) (a) Accumulated adjustments account
1 2 3 4 5 6 7 8 QNA
10000 210000
Balance at beginning of tax year . . . . . Ordinary income from page 1, line 21 . . . Other additions . . . . . . . . . . ( Loss from page 1, line 21 . . . . . . . ( Other reductions . . . . . . . . . . Combine lines 1 through 5 . . . . . . . Distributions other than dividend distributions Balance at end of tax year. Subtract line 7 from line 6
80000 150000 ) 35000 ) (
195000 165000 30000
(b) Other adjustments account
(c) Shareholders’ undistributed taxable income previously taxed
10000 5000 ) 5000 5000 Form 1120S (2014)
Dana Inc 123 Anystreet Dime Box, GA 30907 Jay Mitchell 80 Lane Street Old Dime, GA 30907
Dear Jay Mitchell, Enclosed is your 2014 Schedule K-1 (Form 1120-S) Shareholder's Share of Income, Credits, Deductions, Etc. This information reflects the amounts you need to complete your income tax return. The amounts shown are your distributive share of S Corporation tax items, including income/loss, credit and deductions, and any other information to be reported on your tax return. This information may not correspond to actual distributions you may have received during the year. This information is included in the SCorporation's 2014 Federal Return that was filed with the Internal Revenue Service. This schedule should be retained with your tax records and other documentation. If you have any questions concerning this information please do not hesitate to contact us. Sincerely, Dana Inc
671113 Final K-1
2014
Schedule K-1 (Form 1120S) Department of the Treasury Internal Revenue Service
For calendar year 2014, or tax year beginning ending
Shareholder’s Share of Income, Deductions, a See back of form and separate instructions. Credits, etc. Part I A
Part III Shareholder’s Share of Current Year Income, Deductions, Credits, and Other Items
1
Ordinary business income (loss)
2
Net rental real estate income (loss)
3
Other net rental income (loss)
Information About the Corporation
4
Interest income
13
Credits
14
Foreign transactions
56000
, 2014 , 20
OMB No. 1545-0123
Amended K-1
35000
5a Ordinary dividends
Corporation’s employer identification number
73-8264911 B
C
Corporation’s name, address, city, state, and ZIP code
5b Qualified dividends
DANA INC 123 ANYSTREET DIME BOX, GA 30907
6
Royalties
7
Net short-term capital gain (loss)
70000 8a Net long-term capital gain (loss)
IRS Center where corporation filed return
CINCINNATI Part II D
8b Collectibles (28%) gain (loss)
Information About the Shareholder
8c Unrecaptured section 1250 gain
Shareholder’s identifying number
243-58-8695 E
9
Shareholder’s name, address, city, state, and ZIP code
JAY MITCHELL 80 LANE STREET OLD DIME, GA 30907 F
Shareholder’s percentage of stock ownership for tax year . . . .
.
.
.
70.0000
Net section 1231 gain (loss)
10
Other income (loss)
15
Alternative minimum tax (AMT) items
11
Section 179 deduction
16
Items affecting shareholder basis
12
Other deductions
%
14000
For IRS Use Only
G
A
7000
C
14000
D
115500
17
Other information
* See attached statement for additional information. For Paperwork Reduction Act Notice, see Instructions for Form 1120S.
QNA
IRS.gov/form1120s
Schedule K-1 (Form 1120S) 2014
Schedule K-1 (Form 1120S) 2014
Page
2
This list identifies the codes used on Schedule K-1 for all shareholders and provides summarized reporting information for shareholders who file Form 1040. For detailed reporting and filing information, see the separate Shareholder’s Instructions for Schedule K-1 and the instructions for your income tax return. Code Ordinary business income (loss). Determine whether the income (loss) is passive or nonpassive and enter on your return as follows: Report on Passive loss See the Shareholder’s Instructions Passive income Schedule E, line 28, column (g) Nonpassive loss Schedule E, line 28, column (h) Nonpassive income Schedule E, line 28, column (j) 2. Net rental real estate income (loss) See the Shareholder’s Instructions 3. Other net rental income (loss) Net income Schedule E, line 28, column (g) Net loss See the Shareholder’s Instructions 4. Interest income Form 1040, line 8a 5a. Ordinary dividends Form 1040, line 9a 5b. Qualified dividends Form 1040, line 9b 6. Royalties Schedule E, line 4 7. Net short-term capital gain (loss) Schedule D, line 5 8a. Net long-term capital gain (loss) Schedule D, line 12 8b. Collectibles (28%) gain (loss) 28% Rate Gain Worksheet, line 4 (Schedule D instructions) 1.
8c. Unrecaptured section 1250 gain 9. Net section 1231 gain (loss) 10. Other income (loss) Code A Other portfolio income (loss) B C D E
See the Shareholder’s Instructions See the Shareholder’s Instructions
See the Shareholder’s Instructions
Involuntary conversions Sec. 1256 contracts & straddles Mining exploration costs recapture Other income (loss)
See the Shareholder’s Instructions Form 6781, line 1 See Pub. 535 See the Shareholder’s Instructions
11. Section 179 deduction See the Shareholder’s Instructions 12. Other deductions A Cash contributions (50%) B Cash contributions (30%) C Noncash contributions (50%) See the Shareholder’s D Noncash contributions (30%) Instructions E Capital gain property to a 50% organization (30%) F Capital gain property (20%) G Contributions (100%) H Investment interest expense Form 4952, line 1 Schedule E, line 19 I Deductions—royalty income J Section 59(e)(2) expenditures See the Shareholder’s Instructions K Deductions—portfolio (2% floor) Schedule A, line 23 L Deductions—portfolio (other) Schedule A, line 28 M Preproductive period expenses See the Shareholder’s Instructions N Commercial revitalization deduction from rental real estate activities See Form 8582 instructions O Reforestation expense deduction See the Shareholder’s Instructions P Domestic production activities information See Form 8903 instructions Q Qualified production activities income Form 8903, line 7b R Employer’s Form W-2 wages Form 8903, line 17 S Other deductions See the Shareholder’s Instructions 13. Credits A Low-income housing credit (section 42(j)(5)) from pre-2008 buildings B Low-income housing credit (other) from
}
pre-2008 buildings
C D E F G H I J K L M
Low-income housing credit (section 42(j)(5)) from post-2007 buildings Low-income housing credit (other) from post-2007 buildings Qualified rehabilitation expenditures (rental real estate) Other rental real estate credits Other rental credits Undistributed capital gains credit Biofuel producer credit
Work opportunity credit Disabled access credit Empowerment zone employment credit Credit for increasing research activities
QNA
} }
See the Shareholder’s Instructions
N O P
See the Shareholder’s Instructions
}
Report on
See the Shareholder’s Instructions
}
14. Foreign transactions A Name of country or U.S. possession Form 1116, Part I B Gross income from all sources C Gross income sourced at shareholder level Foreign gross income sourced at corporate level D Passive category E General category Form 1116, Part I F Other Deductions allocated and apportioned at shareholder level G Interest expense Form 1116, Part I H Other Form 1116, Part I Deductions allocated and apportioned at corporate level to foreign source income I Passive category Form 1116, Part I J General category K Other Other information L Total foreign taxes paid Form 1116, Part II M Total foreign taxes accrued Form 1116, Part II N Reduction in taxes available for credit Form 1116, line 12 Form 8873 O Foreign trading gross receipts Form 8873 P Extraterritorial income exclusion See the Shareholder’s Instructions Q Other foreign transactions 15. Alternative minimum tax (AMT) items A Post-1986 depreciation adjustment See the B Adjusted gain or loss Shareholder’s C Depletion (other than oil & gas) Instructions and D Oil, gas, & geothermal—gross income the Instructions for E Oil, gas, & geothermal—deductions Form 6251 F Other AMT items 16. Items affecting shareholder basis A Tax-exempt interest income Form 1040, line 8b B Other tax-exempt income C Nondeductible expenses See the Shareholder’s D Distributions Instructions E Repayment of loans from shareholders
}
}
}
}
17. Other information A Investment income B Investment expenses C Qualified rehabilitation expenditures (other than rental real estate) D Basis of energy property E Recapture of low-income housing credit (section 42(j)(5)) F Recapture of low-income housing credit (other) G Recapture of investment credit H Recapture of other credits Look-back interest—completed I J K L
Form 1040, line 73, box a
Credit for employer social security and Medicare taxes Backup withholding Other credits
M N O P Q R S T U V
}
long-term contracts Look-back interest—income forecast method
Dispositions of property with section 179 deductions Recapture of section 179 deduction Section 453(l)(3) information Section 453A(c) information Section 1260(b) information Interest allocable to production expenditures CCF nonqualified withdrawals Depletion information—oil and gas
Reserved Section 108(i) information Net investment income Other information
Form 4952, line 4a Form 4952, line 5 See the Shareholder’s Instructions See the Shareholder’s Instructions Form 8611, line 8 Form 8611, line 8 See Form 4255 See the Shareholder’s Instructions See Form 8697 See Form 8866
See the Shareholder’s Instructions
Dana Inc 123 Anystreet Dime Box, GA 30907 Stan Marshall 123 Rodeo Drive Dime Box, GA 30907
Dear Stan Marshall, Enclosed is your 2014 Schedule K-1 (Form 1120-S) Shareholder's Share of Income, Credits, Deductions, Etc. This information reflects the amounts you need to complete your income tax return. The amounts shown are your distributive share of S Corporation tax items, including income/loss, credit and deductions, and any other information to be reported on your tax return. This information may not correspond to actual distributions you may have received during the year. This information is included in the SCorporation's 2014 Federal Return that was filed with the Internal Revenue Service. This schedule should be retained with your tax records and other documentation. If you have any questions concerning this information please do not hesitate to contact us. Sincerely, Dana Inc
671113 Final K-1
2014
Schedule K-1 (Form 1120S) Department of the Treasury Internal Revenue Service
For calendar year 2014, or tax year beginning ending
Shareholder’s Share of Income, Deductions, a See back of form and separate instructions. Credits, etc. Part I A
Part III Shareholder’s Share of Current Year Income, Deductions, Credits, and Other Items
1
Ordinary business income (loss)
2
Net rental real estate income (loss)
3
Other net rental income (loss)
Information About the Corporation
4
Interest income
13
Credits
14
Foreign transactions
24000
, 2014 , 20
OMB No. 1545-0123
Amended K-1
15000
5a Ordinary dividends
Corporation’s employer identification number
73-8264911 B
C
Corporation’s name, address, city, state, and ZIP code
5b Qualified dividends
DANA INC 123 ANYSTREET DIME BOX, GA 30907
6
Royalties
7
Net short-term capital gain (loss)
30000 8a Net long-term capital gain (loss)
IRS Center where corporation filed return
CINCINNATI Part II D
8b Collectibles (28%) gain (loss)
Information About the Shareholder
8c Unrecaptured section 1250 gain
Shareholder’s identifying number
221-51-8695 E
9
Shareholder’s name, address, city, state, and ZIP code
STAN MARSHALL 123 RODEO DRIVE DIME BOX, GA 30907 F
Shareholder’s percentage of stock ownership for tax year . . . .
.
.
.
30.0000
Net section 1231 gain (loss)
10
Other income (loss)
15
Alternative minimum tax (AMT) items
11
Section 179 deduction
16
Items affecting shareholder basis
12
Other deductions
%
6000
For IRS Use Only
G
A
3000
C
6000
D
49500
17
Other information
* See attached statement for additional information. For Paperwork Reduction Act Notice, see Instructions for Form 1120S.
QNA
IRS.gov/form1120s
Schedule K-1 (Form 1120S) 2014
Schedule K-1 (Form 1120S) 2014
Page
2
This list identifies the codes used on Schedule K-1 for all shareholders and provides summarized reporting information for shareholders who file Form 1040. For detailed reporting and filing information, see the separate Shareholder’s Instructions for Schedule K-1 and the instructions for your income tax return. Code Ordinary business income (loss). Determine whether the income (loss) is passive or nonpassive and enter on your return as follows: Report on Passive loss See the Shareholder’s Instructions Passive income Schedule E, line 28, column (g) Nonpassive loss Schedule E, line 28, column (h) Nonpassive income Schedule E, line 28, column (j) 2. Net rental real estate income (loss) See the Shareholder’s Instructions 3. Other net rental income (loss) Net income Schedule E, line 28, column (g) Net loss See the Shareholder’s Instructions 4. Interest income Form 1040, line 8a 5a. Ordinary dividends Form 1040, line 9a 5b. Qualified dividends Form 1040, line 9b 6. Royalties Schedule E, line 4 7. Net short-term capital gain (loss) Schedule D, line 5 8a. Net long-term capital gain (loss) Schedule D, line 12 8b. Collectibles (28%) gain (loss) 28% Rate Gain Worksheet, line 4 (Schedule D instructions) 1.
8c. Unrecaptured section 1250 gain 9. Net section 1231 gain (loss) 10. Other income (loss) Code A Other portfolio income (loss) B C D E
See the Shareholder’s Instructions See the Shareholder’s Instructions
See the Shareholder’s Instructions
Involuntary conversions Sec. 1256 contracts & straddles Mining exploration costs recapture Other income (loss)
See the Shareholder’s Instructions Form 6781, line 1 See Pub. 535 See the Shareholder’s Instructions
11. Section 179 deduction See the Shareholder’s Instructions 12. Other deductions A Cash contributions (50%) B Cash contributions (30%) C Noncash contributions (50%) See the Shareholder’s D Noncash contributions (30%) Instructions E Capital gain property to a 50% organization (30%) F Capital gain property (20%) G Contributions (100%) H Investment interest expense Form 4952, line 1 Schedule E, line 19 I Deductions—royalty income J Section 59(e)(2) expenditures See the Shareholder’s Instructions K Deductions—portfolio (2% floor) Schedule A, line 23 L Deductions—portfolio (other) Schedule A, line 28 M Preproductive period expenses See the Shareholder’s Instructions N Commercial revitalization deduction from rental real estate activities See Form 8582 instructions O Reforestation expense deduction See the Shareholder’s Instructions P Domestic production activities information See Form 8903 instructions Q Qualified production activities income Form 8903, line 7b R Employer’s Form W-2 wages Form 8903, line 17 S Other deductions See the Shareholder’s Instructions 13. Credits A Low-income housing credit (section 42(j)(5)) from pre-2008 buildings B Low-income housing credit (other) from
}
pre-2008 buildings
C D E F G H I J K L M
Low-income housing credit (section 42(j)(5)) from post-2007 buildings Low-income housing credit (other) from post-2007 buildings Qualified rehabilitation expenditures (rental real estate) Other rental real estate credits Other rental credits Undistributed capital gains credit Biofuel producer credit
Work opportunity credit Disabled access credit Empowerment zone employment credit Credit for increasing research activities
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} }
See the Shareholder’s Instructions
N O P
See the Shareholder’s Instructions
}
Report on
See the Shareholder’s Instructions
}
14. Foreign transactions A Name of country or U.S. possession Form 1116, Part I B Gross income from all sources C Gross income sourced at shareholder level Foreign gross income sourced at corporate level D Passive category E General category Form 1116, Part I F Other Deductions allocated and apportioned at shareholder level G Interest expense Form 1116, Part I H Other Form 1116, Part I Deductions allocated and apportioned at corporate level to foreign source income I Passive category Form 1116, Part I J General category K Other Other information L Total foreign taxes paid Form 1116, Part II M Total foreign taxes accrued Form 1116, Part II N Reduction in taxes available for credit Form 1116, line 12 Form 8873 O Foreign trading gross receipts Form 8873 P Extraterritorial income exclusion See the Shareholder’s Instructions Q Other foreign transactions 15. Alternative minimum tax (AMT) items A Post-1986 depreciation adjustment See the B Adjusted gain or loss Shareholder’s C Depletion (other than oil & gas) Instructions and D Oil, gas, & geothermal—gross income the Instructions for E Oil, gas, & geothermal—deductions Form 6251 F Other AMT items 16. Items affecting shareholder basis A Tax-exempt interest income Form 1040, line 8b B Other tax-exempt income C Nondeductible expenses See the Shareholder’s D Distributions Instructions E Repayment of loans from shareholders
}
}
}
}
17. Other information A Investment income B Investment expenses C Qualified rehabilitation expenditures (other than rental real estate) D Basis of energy property E Recapture of low-income housing credit (section 42(j)(5)) F Recapture of low-income housing credit (other) G Recapture of investment credit H Recapture of other credits Look-back interest—completed I J K L
Form 1040, line 73, box a
Credit for employer social security and Medicare taxes Backup withholding Other credits
M N O P Q R S T U V
}
long-term contracts Look-back interest—income forecast method
Dispositions of property with section 179 deductions Recapture of section 179 deduction Section 453(l)(3) information Section 453A(c) information Section 1260(b) information Interest allocable to production expenditures CCF nonqualified withdrawals Depletion information—oil and gas
Reserved Section 108(i) information Net investment income Other information
Form 4952, line 4a Form 4952, line 5 See the Shareholder’s Instructions See the Shareholder’s Instructions Form 8611, line 8 Form 8611, line 8 See Form 4255 See the Shareholder’s Instructions See Form 8697 See Form 8866
See the Shareholder’s Instructions
[ [ 2014 70.0000 ] [ [Tin: [Tax year ending: 2014 [Ownership % Shareholder Number: 243-58-8695 [ ] Name of Shareholder: JAY MITCHELL [ [EIN 73-8264911 ] Name of S Corporation: DANA INC Preparer's Initials and Date: Reviewer's Initials and Date: Shareholder's Basis Statement Keep for your records
Explanation of Adjustment 1.
Balances-beginning of year
2.
Adjustment for:
Stock Basis
Debt Basis
$
$
Contributions to capital/stock purchases New loans to corporation
(
Repayment of debt principal
)
Adjustment for income and gain items (from Schedule K-1): Nonseparately stated income
91000 $
Separately stated income:
70000 Section 1231 gain Other portfolio income 7000 Tax-exempt income Other: Increase for depletion adjustment Increase for business credits 168000 Total adjustment for income and gain items 115500 ) ( Nondividend distributions (from Schedule K-1, line 16, code D) Interest, dividends, and royalties Capital gain
3. 4. 5.
Adjustment for loss and deduction items: Prior years' loss carryover
(
Nonseparately stated loss (from Schedule K-1)
(
) )
Separately stated losses and deductions (from Schedule K-1):
7.
) ) ( Charitable contributions 14000 ) ( ) Section 179 deductions ( ) Deductions related to portfolio income ( ) Deductions related to tax-exempt income ( ) Other: ( Nondeductible expenses 14000 ) ( ) Decrease for depletion adjustment ( ) Decrease for business credits ( Total loss and deduction items 28000 ) Net increase/decrease 24500
8.
Increase by net increase
9.
Increase by income and gain items
6.
Capital loss
(
Section 1231 loss
(
10.
Subtotals
11.
Decrease by distributions
12.
Subtotals
13.
Decrease by loss and deduction items
14.
Subtotals
15.
Adjustment for: (
Sale or other disposition of stock Repayment of debt principal 16.
Balances-end of year (not less than zero)
17.
Loss carryover to following year
QNA
168000 168000 ( 115500 ) 52500 ( 28000 ) 24500
$
)
XXXXXXXXX XXXXXXXXX ( )
( ) 24500 $ $
[ [ 2014 30.0000 ] [ [Tin: [Tax year ending: 2014 [Ownership % Shareholder Number: 221-51-8695 [ ] Name of Shareholder: STAN MARSHALL [ [EIN 73-8264911 ] Name of S Corporation: DANA INC Preparer's Initials and Date: Reviewer's Initials and Date: Shareholder's Basis Statement Keep for your records
Explanation of Adjustment 1.
Balances-beginning of year
2.
Adjustment for:
Stock Basis
Debt Basis
10500 $
$
Contributions to capital/stock purchases New loans to corporation
(
Repayment of debt principal
)
Adjustment for income and gain items (from Schedule K-1): Nonseparately stated income
39000 $
Separately stated income:
30000 Section 1231 gain Other portfolio income 3000 Tax-exempt income Other: Increase for depletion adjustment Increase for business credits 72000 Total adjustment for income and gain items 49500 ) ( Nondividend distributions (from Schedule K-1, line 16, code D) Interest, dividends, and royalties Capital gain
3. 4. 5.
Adjustment for loss and deduction items: Prior years' loss carryover
(
Nonseparately stated loss (from Schedule K-1)
(
) )
Separately stated losses and deductions (from Schedule K-1):
7.
) ) ( Charitable contributions 6000 ) ( ) Section 179 deductions ( ) Deductions related to portfolio income ( ) Deductions related to tax-exempt income ( ) Other: ( Nondeductible expenses 6000 ) ( ) Decrease for depletion adjustment ( ) Decrease for business credits ( Total loss and deduction items 12000 ) Net increase/decrease 10500
8.
Increase by net increase
9.
Increase by income and gain items
6.
Capital loss
(
Section 1231 loss
(
10.
Subtotals
11.
Decrease by distributions
12.
Subtotals
13.
Decrease by loss and deduction items
14.
Subtotals
15.
Adjustment for: (
Sale or other disposition of stock Repayment of debt principal 16.
Balances-end of year (not less than zero)
17.
Loss carryover to following year
QNA
72000 82500 ( 49500 ) 33000 ( 12000 ) 21000
$
)
XXXXXXXXX XXXXXXXXX ( )
( ) 21000 $ $
_______________________________________ SUPPORTING STATEMENTS FOR S CORPORATION DANA INC 73-8264911 123 ANYSTREET DIME BOX, GA 30907
---------------------------------------**** Schedule of Other Deductions: Description ___________ SUPPLIES ___________ Total Other Deduction
______ Amount 100,000 ______ 100,000
---------------------------------------**** Schedule K - Contributions (100%) Description ___________ CHARITY ___________ Total Schedule K - Contributions (100%):
______ Amount 20,000 ______ 20,000
---------------------------------------**** Schedule L - Other Current Liabilities: Description ___________ OTHER ___________ Total Schedule L - Other Current Liabilities:
______ Ending 12,000 ______ 12,000
---------------------------------------**** Schedule M-2 - Other Additions - Column A: Description ___________ OTHER ADDITIONS ___________ Total Schedule M-2 - Other Additions - Column A:
______ Amount 150,000 ______ 150,000
---------------------------------------**** Schedule M-2 - Other Additions - Column B: Description ___________ OTHER ADJUSTMENTS ___________ Total Schedule M-2 - Other Additions - Column B:
______ Amount 10,000 ______ 10,000
---------------------------------------**** Schedule M-2 - Other Reductions - Column A: Description ___________ OTHER REDUCTIONS ___________ Total Schedule M-2 - Other Reductions - Column A:
______ Amount 35,000 ______ 35,000
_______________________________________ SUPPORTING STATEMENTS FOR S CORPORATION DANA INC 73-8264911 123 ANYSTREET DIME BOX, GA 30907
---------------------------------------**** Schedule M-2 - Other Reductions - Column B: Description ___________ OTHER REDUCTIONS ___________ Total Schedule M-2 - Other Reductions - Column B:
Amount ______ 5,000 ______ 5,000
1125-E
Form
Compensation of Officers
(Rev. December 2013)
Department of the Treasury Internal Revenue Service
OMB No. 1545-2225 a
Attach to Form 1120, 1120-C, 1120-F, 1120-REIT, 1120-RIC, or 1120S. a Information about Form 1125-E and its separate instructions is at www.irs.gov/form1125e.
Name
Employer identification number
DANA INC
73-8264911
Note. Complete Form 1125-E only if total receipts are $500,000 or more. See instructions for definition of total receipts. (b) Social security number (see instructions)
(c) Percent of time devoted to business
JAY MITCHELL
243-58-8695
70.00
%
70.00%
70.00%
105000
STAN MARSHALL
221-51-8695
30.00
%
30.00%
30.00%
45000
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
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%
(a) Name of officer
1
.
.
.
.
.
.
.
.
.
.
.
.
(e) Preferred
2
Total compensation of officers .
.
.
.
.
.
.
.
.
.
2
3
Compensation of officers claimed on Form 1125-A or elsewhere on return
.
.
.
.
.
.
.
.
3
4
Subtract line 3 from line 2. Enter the result here and on Form 1120, page 1, line 12 or the appropriate line of your tax return . . . . . . . . . . . . . . . . . . . . . .
4
For Paperwork Reduction Act Notice, see separate instructions. QNA
.
Percent of stock owned (d) Common
(f) Amount of compensation
150000
150000
Form 1125-E (Rev. 12-2013)
Form
8825
(Rev. December 2010)
Rental Real Estate Income and Expenses of a Partnership or an S Corporation
Department of the Treasury Internal Revenue Service
instructions on back. a Attach to Form 1065, Form 1065-B, or Form 1120S.
Name
Employer identification number
DANA INC 1
A
OMB No. 1545-1186
a See
73-8264911
Show the type and address of each property. For each rental real estate property listed, report the number of days rented at fair rental value and days with personal use. See instructions. See page 2 to list additional properties. Physical address of each property—street, city, Type—Enter code 1-8; Fair Rental Days Personal Use Days state, ZIP code see page 2 for list
134 ANY STREET EVANS, GA 30809
365
4-Commercial
0
B C D
Properties Rental Real Estate Income 2 Gross rents . . . . . . .
3 4 5 6 7 8 9 10 11 12 13 14 15
Rental Real Estate Expenses Advertising . . . . . . . Auto and travel . . . . . Cleaning and maintenance . . Commissions . . . . . . Insurance . . . . . . . Legal and other professional fees Interest . . . . . . . . Repairs . . . . . . . . Taxes . . . . . . . . Utilities . . . . . . . . Wages and salaries . . . . Depreciation (see instructions) Other (list) a
A 2
B
C
D
50000
3 4 5 6 7 8 9 10 11 12 13 14 15
16 Total expenses for each property. Add lines 3 through 15 . . . 17 Income or (Loss) from each property. Subtract line 16 from line 2
16
50000 17 18a Total gross rents. Add gross rents from line 2, columns A through H . . . . . . . . . . b Total expenses. Add total expenses from line 16, columns A through H . . . . . . . . . 19 Net gain (loss) from Form 4797, Part II, line 17, from the disposition of property from rental real estate activities . . . . . . . . . . . . . . . . . . . . . . . . . . . 20a Net income (loss) from rental real estate activities from partnerships, estates, and trusts in which this partnership or S corporation is a partner or beneficiary (from Schedule K-1) . . . . . .
18a 18b (
50000 )
19 20a
b Identify below the partnerships, estates, or trusts from which net income (loss) is shown on line 20a. Attach a schedule if more space is needed:
(1) Name
21
(2) Employer identification number
Net rental estate income (loss). Combine lines 18a through 20a. Enter the result here and on: • Form 1065 or 1120S: Schedule K, line 2, or • Form 1065-B: Part I, line 4
For Paperwork Reduction Act Notice, see back of form. QNA
21
50000
Form 8825 (12-2010)
