Get R 6180

Filling out the R 6180 form is essential for claiming the net capital gains deduction for the 2016 tax year. This guide provides you with step-by-step instructions to ensure accurate completion of this form, even if you have little experience with legal documents.

Follow the steps to complete the R 6180 online accurately.

1. Click ‘Get Form’ button to obtain the form and open it in your preferred editor.
2. Begin by entering your Social Security Number in the designated field.
3. Provide the name of the business generating the net capital gains.
4. Fill in the Louisiana Tax ID number for the business.
5. Enter the Federal Employer Identification Number (FEIN) for the business.
6. Describe the business activity conducted in Louisiana in the provided space.
7. Indicate where the business assets are held.
8. Specify where the management decisions for the business are made.
9. Outline where day-to-day operational decisions are made.
10. Report the net capital gains as they appear on your federal return.
11. Document the number of years the business was held in Louisiana prior to the sale or exchange.
12. If the number entered in Step 11 is less than 5, you cannot claim this deduction. If it is 5 or greater, refer to the calculations to multiply the net capital gains by the applicable decimal amount based on the number of years held.
13. Multiply the amount from Step 10 by the decimal amount determined in Step 12 to calculate your capital gains deduction.
14. Enter the calculated deduction on Form IT-540, Schedule E, code 20E or Form IT-540B, Nonresident Part Year Resident (NPR) worksheet, Line 30.
15. Gather additional documentation required, such as a notarized statement, previous tax returns, and relevant K-1 forms.
16. Once all information is completed, save changes, download, print, or share the form as necessary.

Start filling out the R 6180 form online to ensure you maximize your net capital gains deduction.