Enter the total on Line 4. Schedule G shall also be prepared for group returns for S corporation shareholders and trust or estate beneficiaries. Enter the total Connecticut sourced income of all nonresident partners for whom the partnership is filing the group income tax return. Only items of income are to be included on Line 1. Items of loss and deduction may only be taken if the partner files a nonresident return.
Federal rules relating to separation of different types of income are applicable.
S corporations should only include income which represents the shareholders' pro rata share of separately stated items. The nonseparately stated items are taxed at the corporate level. Enter total on Line 18. If line 18 is more than line 12, subtract line 12 from line 18 and enter the resulting amount on line 19. If line 12 is more than line 18 subtract line 18 from line 12, and enter the result on line 22.