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Instructions for Form 1041 and Schedules A, B, D, G, I, J, and K-1

• Changes To Note
• Photographs of Missing Children
• Unresolved Tax Issues
• How To Get Forms and Publications
  • Personal Computer
  • CD-ROM
  • By Phone and in Person

• General Instructions
  • Purpose of Form
  • Income Taxation of Trusts and Decedents
  • Abusive Trust Arrangements
  • Definitions
    • Beneficiary
    • Distributable Net Income (DNI)
    • Income, Deductions, and Credits in Respect of a Decedent
    • Income Required To Be Distributed Currently
    • Fiduciary
    • Trust

  • Who Must File
    • Decedent
    • Trust
    • Special Rule for Certain Revocable Trusts
    • Alaska Native Settlement Trusts
    • Bankruptcy Estate
    • Common Trust Funds
    • Qualified Settlement Funds

  • Special Filing Instructions for Grantor Type Trusts, Pooled Income Funds, and Electing Small Business Trusts
    • Grantor Type Trusts
      • Optional Filing Methods for Certain Grantor Type Trusts

    • Pooled Income Funds
    • Electing Small Business Trusts

  • Electronic and Magnetic Media Filing
  • When To File
    • Private Delivery Services
    • Extension of Time To File

  • Period Covered
  • Who Must Sign
    • Fiduciary
    • Paid Preparer
    • Paid Preparer Authorization

  • Accounting Methods
  • Accounting Periods
  • Rounding Off to Whole Dollars
  • Estimated Tax
    • Exceptions
    • Electronic Deposits
    • Section 643(g) Election

  • Interest and Penalties
    • Interest
    • Late Filing of Return
    • Late Payment of Tax
    • Failure To Provide Information Timely
    • Underpaid Estimated Tax
    • Trust Fund Recovery Penalty
    • Other Penalties

  • Other Forms That May Be Required
  • Assembly and Attachments
    • Attachments

  • Additional Information
  • Of Special Interest to Bankruptcy Trustees and Debtors-in-Possession
    • Taxation of Bankruptcy Estates of an Individual
    • Who Must File
    • Employer Identification Number
    • Accounting Period
    • When To File
    • Disclosure of Return Information
    • Transfer of Tax Attributes From the Individual Debtor to the Bankruptcy Estate
    • Income, Deductions, and Credits
    • Tax Rate Schedule
    • Prompt Determination of Tax Liability
    • Special Filing Instructions for Bankruptcy Estates

• Specific Instructions
  • Name of Estate or Trust
  • Name and Title of Fiduciary
  • Address
  • A. Type of Entity
    • Decedent
    • Simple Trust
    • Complex Trust
    • Qualified Disability Trust
    • ESBT (S Portion Only)
    • Grantor Type Trust
    • Bankruptcy Estate
    • Pooled Income Fund

  • B. Number of Schedules K-1 Attached
  • C. Employer Identification Number
  • D. Date Entity Created
  • E. Nonexempt Charitable and Split-Interest Trusts
    • Section 4947(a)(1) Trust
    • Not a Private Foundation
    • Section 4947(a)(2) Trust

  • F. Initial Return, Amended Return, Final Return; or Change in Fiduciary
    • Amended Return
    • Final Return
    • Change in Fiduciary
    • Change in Fiduciary

  • G. Pooled Mortgage Account
  • Income
    • Special Rule for Blind Trust
    • Extraterritorial Income Exclusion
    • Line 1 - Interest Income
    • Line 2 - Ordinary Dividends
    • Line 3 - Business Income or (Loss)
    • Line 4 - Capital Gain or (Loss)
    • Line 5 - Rents, Royalties, Partnerships, Other Estates and Trusts, etc.
    • Line 6 - Farm Income or (Loss)
    • Line 7 - Ordinary Gain or (Loss)
    • Line 8 - Other Income

  • Deductions
    • Depreciation, Depletion, and Amortization
    • Allocation of Deductions for Tax-Exempt Income
    • Deductions That May Be Allowable for Estate Tax Purposes
    • Accrued Expenses

  • Limitations on Deductions
    • At-Risk Loss Limitations
    • Passive Activity Loss and Credit Limitations
    • Transactions Between Related Taxpayers
    • Line 10 - Interest
    • Line 11 - Taxes
    • Line 12 - Fiduciary Fees
    • Line 15a - Other Deductions Not Subject to the 2% Floor
    • Line 15b - Allowable Miscellaneous Itemized Deductions Subject to the 2% Floor
    • Line 18 - Income Distribution Deduction
    • Line 19 - Estate Tax Deduction (Including Certain Generation- Skipping Transfer Taxes)
    • Line 20 - Exemption

  • Tax and Payments
    • Line 22 - Taxable Income
    • Line 24a - 2002 Estimated Tax Payments and Amount Applied From 2001 Return
    • Line 24b - Estimated Tax Payments Allocated to Beneficiaries
    • Line 24d - Tax Paid With Extension of Time To File
    • Line 24e - Federal Income Tax Withheld
    • Line 24f - Credit For Tax Paid on Undistributed Capital Gains
    • Line 24g - Credit for Federal Tax on Fuels
    • Line 26 - Estimated Tax Penalty
    • Line 27 - Tax Due
    • Line 29a - Credited to 2003 Estimated Tax

  • Schedule A - Charitable Deduction
    • General Instructions
    • Specific Instructions
      • Line 1 - Amounts Paid or Permanently Set Aside for Charitable Purposes From Gross Income
      • Line 2 - Tax-Exempt Income Allocable to Charitable Contributions
      • Line 4 - Capital Gains for the Tax Year Allocated to Corpus and Paid or Permanently Set Aside for Charitable Purposes
      • Line 6 - Section 1202 Exclusion Allocable to Capital Gains Paid or Permanently Set Aside for Charitable Purposes

  • Schedule B - Income Distribution Deduction
    • General Instructions
    • Specific Instructions
      • Line 1 - Adjusted Total Income
      • Line 2 - Adjusted Tax-Exempt Interest
      • Line 3
      • Line 5
      • Line 8 - Accounting Income
      • Lines 9 and 10
      • Line 9 - Income Required To Be Distributed Currently
      • Line 10 - Other Amounts Paid, Credited, or Otherwise Required To Be Distributed
      • Line 11 - Total Distributions
      • Line 12 - Adjustment for Tax-Exempt Income

  • Schedule G - Tax Computation
    • Line 1a
    • Line 2a - Foreign Tax Credit
    • Line 2b - Other Nonbusiness Credits
    • Line 2c - General Business Credit
    • Line 2d - Credit for Prior Year Minimum Tax
    • Line 3 - Total Credits
    • Line 5 - Recapture Taxes
    • Line 6 - Household Employment Taxes
    • Line 7 - Total Tax

  • Other Information
    • Question 1
    • Question 2
    • Question 3
    • Question 4
    • Question 5
    • Question 6
    • Question 7
    • Question 9

  • Schedule I - Alternative Minimum Tax
    • Changes To Note
    • General Instructions
      • Who Must Complete
      • Recordkeeping
      • Credit for Prior Year Minimum Tax
      • Partners, Shareholders, etc.
      • Allocation of Deductions to Beneficiaries
      • Optional Write-Off for Certain Expenditures

    • Specific Instructions
      • Part I - Estate
      • Line 1 - Adjusted Total Income or (Loss)
      • Line 2 - Interest
      • Line 3 - Taxes
      • Line 5 - Refund of Taxes
      • Line 6 - Depletion
      • Line 7 - Net Operating Loss Deduction
      • Line 8 - Interest From Specified Private Activity Bonds Exempt From the Regular Tax
      • Line 9 - Qualified Small Business Stock
      • Line 10 - Exercise of Incentive Stock Options
      • Line 11 - Other Estates and Trusts
      • Line 12 - Electing Large Partnerships
      • Line 13 - Disposition of Property
      • Line 14 - Depreciation of Assets Placed in Service After 1986
      • Line 15 - Passive Activities
      • Line 16 - Loss Limitations
      • Line 17 - Circulation Costs
      • Line 18 - Long-Term Contracts
      • Line 19 - Mining Costs
      • Line 20 - Research and Experimental Costs
      • Line 21 - Income From Certain Installment Sales Before January 1, 1987
      • Line 22 - Intangible Drilling Costs Preference (IDCs)
      • Line 23 - Other Adjustments
      • Line 24 - Alternative Tax Net Operating Loss Deduction (ATNOLD)
      • Line 29 - Estate

    • Part II - Income Distribution Deduction on a Minimum Tax Basis
      • Line 30 - Adjusted Alternative Minimum Taxable Income
      • Line 31 - Adjusted Tax-Exempt Interest
      • Line 33
      • Line 34
      • Lines 35 and 36
      • Line 41 - Adjustment for Tax-Exempt Income
      • Line 44 - Income Distribution Deduction on a Minimum Tax Basis

    • Part III - Alternative Minimum Tax Computation
      • Line 53 - Alternative Minimum Foreign Tax Credit

    • Part IV - Line 52 Computation Using Maximum Capital Gains Rates
      • Lines 58, 59, and 63
      • Line 65

  • Schedule D (Form 1041) - Capital Gains and Losses
    • General Instructions
      • Purpose of Form
      • Capital Asset
      • Short-Term or Long-Term
      • Section 643(e)(3) Election
      • Related Persons
      • Items for Special Treatment
      • Constructive Sales Treatment for Certain Appreciated Positions
      • Exclusion of Gain on Qualified Small Business Stock (Section 1202)

    • Specific Instructions
      • Lines 1 and 6
      • Column (d) - Sales Price
      • Column (e) - Cost or Other Basis
      • Column (f) - Gain or (Loss)
      • Column (g) - 28% Rate Gain or (Loss)
      • Lines 2 and 7
      • Line 9 - Capital Gain Distributions
      • Line 14, Column (1) - Beneficiaries
      • Line 14, Column (2) - Estate
      • Line 14, Column (3) - Total
      • Line 15 - Net Long-Term Capital Gain or Loss
      • Line 15c - Qualified 5-Year Gain
      • Line 15d - Unrecaptured Section 1250 Gain
      • Instructions for the Unrecaptured Section 1250 Gain Worksheet

    • Part IV - Capital Loss Limitation
    • Part V - Tax Computation Using Maximum Capital Gains Rates
      • Line 21
      • Line 38

  • Schedule J (Form 1041) - Accumulation Distribution for Certain Complex Trusts
    • General Instructions
    • Specific Instructions
      • Part I - Accumulation Distribution in 2002
      • Line 1 - Distribution Under Section 661(a)(2)
      • Line 2 - Distributable Net Income
      • Line 3 - Distribution Under Section 661(a)(1)
      • Line 5 - Accumulation Distribution

    • Part II - Ordinary Income Accumulation Distribution
      • Line 6 - Distributable Net Income for Earlier Years
      • Line 7 - Distributions Made During Earlier Years
      • Line 11 - Prior Accumulation Distribution Thrown Back to any Throwback Year
      • Line 13 - Throwback Years
      • Line 16 - Tax-Exempt Interest Included on Line 13

    • Part III - Taxes Imposed on Undistributed Net Income
      • Line 18 - Regular Tax
      • Line 19 - Trust
      • Line 20 - Trust
      • Line 22 - Taxable Income
      • Line 26 - Tax on Income Other Than Long-Term Capital Gain
      • Line 27 - Trust
      • Line 28 - Trust

    • Part IV - Allocation to Beneficiary

  • Schedule K-1 (Form 1041) - Beneficiary
    • General Instructions
      • Who Must File
      • Beneficiary
      • Tax Shelter
      • Substitute Forms
      • Inclusion of Amounts in Beneficiaries
      • Beneficiary

    • Specific Instructions
      • Line 1 - Interest
      • Line 2 - Ordinary Dividends
      • Line 3 - Net Short-Term Capital Gain
      • Lines 4a through 4d - Net Long-Term Capital Gain
      • Line 5a - Annuities, Royalties, and Other Nonpassive Income
      • Lines 5b and 6b - Depreciation
      • Lines 5c and 6c - Depletion
      • Lines 5d and 6d - Amortization
      • Line 6a - Trade or Business, Rental Real Estate, and Other Rental Income
      • Lines 6b Through 6d
      • Line 7 - Income for Minimum Tax Purposes
      • Line 8 - Income for Regular Tax Purposes
      • Line 10 - Estate Tax Deduction (Including Certain Generation-Skipping Transfer Taxes)
      • Line 11 - Foreign Taxes
      • Lines 12a through 12c
      • Line 12d - Exclusion Items
      • Line 13a - Excess Deductions on Termination
      • Lines 13b and 13c - Unused Capital Loss Carryover
      • Lines 13d and 13e - Net Operating Loss (NOL) Carryover
      • Line 14 - Other

• Paperwork Reduction Act Notice.

Index

[ Click for Table of Contents ]

A

• AGI
• Allowable miscellaneous itemized deductions (AMID)
• Allowable miscellaneous itemized deductions (AMID)
• Alternative minimum tax
• Amounts paid or permanently set aside
• Assembly
• Attachments

B

• Bankruptcy information
• Basis
• Beneficiary, Estate
• Beneficiary, Simple trust
• Beneficiary, Tax year for inclusion

C

• Capital asset
• Capital loss limitation
• Cemetery perpetual care fund
• Charitable deduction
• Collectibles

D

• Definitions, Accumulation distribution
• Definitions, Beneficiary
• Definitions, Complex trust
• Definitions, Decedent
• Definitions, DNI
• Definitions, Fiduciary
• Definitions, Income in respect of a decedent
• Definitions, Outside income
• Definitions, Pooled income fund
• Definitions, Simple trust
• DNI

E

• Electing small business trusts
• Electing small business trusts, ESBT (S portion only)
• Electing small business trusts, S portion
• Elections, Out of installment method
• Elections, Rollover of gain from qualified small business stock
• Elections, Section 643(e)(3)
• Elections, Section 643(e)(3)
• Elections, Special rule for qualified revocable trusts
• Elections, Treating contributions as paid in prior tax year
• Electronic deposits
• ESBTs ( See Electing small business trusts )
• Estate, Bankruptcy
• Estate, Bankruptcy
• Estate, Exemption for
• Estate, Foreign
• Estimated tax
• Estimated tax
• Estimated tax, Allocation of payments to beneficiaries
• Estimated tax, Penalty
• Excess deductions
• Exemption
• Extension for filing
• Extraterritorial income exclusion

F

• Fiduciary
• Fiduciary
• Fiduciary
• Fiduciary
• Fiduciary accounting income (FAI) ( See Accounting income )
• First tier distributions
• Foreign tax credit
• Form 1041-T
• Form 1041-T

G

• General business credit
• Grantor trusts
• Grantor trusts, Backup withholding
• Grantor trusts, Mortgage pools
• Grantor trusts, Nonqualified deferred compensation plans
• Grantor trusts, Optional filing methods
• Grantor trusts, Special filing instructions
• GST tax deduction

I

• Income distribution deduction
• Income distribution deduction
• Income distribution deduction
• Income in respect of a decedent ( See IRD )
• Installment sales, Elect out of
• Inter vivos
• Interest income
• IRD, Deduction

L

• Like-kind exchange

M

• Mortgage pools
• Mortgage pools, Employer Identification number

N

• Net operating loss

P

• Paid preparer
• Paid preparer authorization
• Penalties, Failure to provide a required TIN
• Penalties, Failure to provide information timely
• Penalties, Late filing of return
• Penalties, Late payment of tax
• Penalties, Other
• Penalties, Trust fund recovery
• Penalties, Underpaid estimated tax
• Pooled income funds
• Pooled income funds

Q

• Qualified 5-year gain
• Qualified small business stock
• Qualified small business stock

R

• Returns, Amended
• Returns, Common trust fund
• Returns, Electronic and magnetic media
• Returns, Final
• Returns, Nonexempt charitable trust
• Returns, Nonexempt charitable trust
• Returns, Qualified settlement funds
• Returns, Split-interest trust
• Returns, When to file
• Returns, Who must file

S

• Schedule D Tax Worksheet
• Second tier distributions
• Separate share rule
• Special filing instructions, Bankruptcy estates
• Special filing instructions, Pooled income funds
• Substitute forms

T

• Taxable income
• Throwback years
• Trusts
• Trusts, Alaska Native Settlement
• Trusts, Blind
• Trusts, Domestic
• Trusts, Exemption for
• Trusts, Foreign
• Trusts, Grantor
• Trusts, Inter vivos
• Trusts, Nonexempt charitable
• Trusts, Nonexempt charitable
• Trusts, Nonexempt charitable
• Trusts, Pre-need funeral
• Trusts, Qualified disability
• Trusts, Qualified revocable
• Trusts, Qualified revocable
• Trusts, Split-interest
• Trusts, Testamentary
• Trusts, Testamentary
• Trusts, Who must file

U

• Undistributed capital gains
• Unrecaptured section 1250 gain

W

• Who must file, Bankruptcy estate
• Who must file, Decedent
• Who must file, Trust

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