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  • South Carolina Schedule Sc K Form

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1350 STATE OF SOUTH CAROLINA DEPARTMENT OF REVENUE SOUTH CAROLINA SHAREHOLDER'S SHARE OF INCOME, CREDITS, DEDUCTIONS, ETC. For calendar year Shareholder's identifying number Shareholder's name, address.

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Long-term capital gains are included in South Carolina taxable income and taxed at rates up to 7%. However, you can subtract up to 44% of your net South Carolina capital gains, so if you sell a home in South Carolina for a $100,000 profit, your South Carolina tax on that gain would be approximately $3,920.

Give us a call at 1-844-898-8542 or email forms@dor.sc.gov so we can direct you to the proper form, or discuss the online filing option that best fits your needs. Filing online using MyDORWAY makes finding the right form easy!

Form NameForm NumberForm NameComposite Return AffidavitForm NumberI-338Form NameRecapture of South Carolina Housing Tax CreditForm NumberSC SCH TC 63RForm NameDeferred Income Taxes for South CarolinaForm NumberSC SCH TD-1Form NameIndividual Declaration of Estimated TaxForm NumberSC1040ES7 more rows

These 2021 forms and more are available: South Carolina Form 1040 – Personal Income Tax Return for Residents. South Carolina Schedule NR – Nonresident Schedule. South Carolina Form 1040/Schedule NR – Additions and Subtractions.

Permanent provision SC adopts IRC §170. IRC §199A Pass-through tax treatment – 20% deduction for qualified business income For 2018 through 2025, a special deduction is allowed to taxpayers for “qualified business income” from pass- through entities.

CAPITAL GAINS DEDUCTION South Carolina Code §12-6-1150 provides a deduction from the South Carolina taxable income of individuals, estates, and trusts equal to 44% of net capital gain recognized. South Carolina defines “net capital gain” in the same manner as Internal Revenue Code §1222 and related sections.

(1) 'Active trade or business income or loss' means income or loss of an individual, estate, trust, or any other entity except those taxed or exempted from tax pursuant to Sections 12-6-530 through 12-6-550 resulting from the ownership of an interest in a pass-through business.

Beginning with the 2021 tax year, a qualified entity can elect to have its active trade or business income taxed at a 3% flat tax rate imposed on the entity itself instead of its qualified owners. Electing qualified entities must use the I-435 to identify active trade or business income and calculate the tax.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232