Publication 559 |
2008 Tax Year |
Form 1041 (2007) Page 2. Summary: This is an example of Form 1041 (2006), page 2 as pertains to the text. The line items are completed as follows:
Under
“Schedule B: Income Distribution Deduction”:
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“1. Adjusted total income (see page 22 of the instructions)” field contains 12,625
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“6. Enter any gain from page 1, line 4, as a negative number. If page 1, line 4, is a loss, enter the loss as a positive number” field
contains negative 200
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“7. Distributable net income (D.N.I.). Combine lines 1 through 6. If zero or less, enter 0” field contains 12,425
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“10. Other amounts paid, credited, or otherwise required to be distributed” field contains 2,000
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“11. Total distributions. Add lines 9 and 10. If greater than line 8, see page 22 of the instructions” field contains 2,000
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“13. Tentative income distribution deduction. Subtract line 12 from line 11” field contains 2,000
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“14. Tentative income distribution deduction. Subtract line 2 from line 7. If zero or less, enter 0” field contains 12,425
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“15. Income distribution deduction. Enter the smaller of line 13 or line 14 here and on page 1, line 18” field contains
2,000
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Under
“Schedule G: Tax Computation”:
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“1a. Tax: Schedule D (Form 1041)” checkbox checked, field contains 2,486
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“1c. Tax: Alternative minimum tax (from Schedule I, line 56)” field contains 0
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“1d. Tax: Total. Add lines 1a through 1c” field contains 2,486
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“4. Subtract line 3 from line 1d. If zero or less, enter 0” field contains 2,486
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“5. Recapture taxes.” field contains 0
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“7. Total tax. Add lines 4 through 6. Enter here and on page 1, line 24” field contains 2,486
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Under
“Other Information”:
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“1. Did the estate or trust receive tax-exempt income?--No” checkbox checked
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“2. Did the estate or trust receive all or any part of the earnings (salary, wages, and other compensation) of any individual
by reason of a
contract agreement or similar arrangement?--No” checkbox checked
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“3. At any time during calendar year 2006, did the estate or trust have an interest in or a signature or other authority over
a bank,
securities, or other financial account in a foreign country?--No” checkbox checked
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“4. During the tax year, did the estate or trust receive a distribution from, or was it the grantor of, or transferor to, a
foreign
trust?--No” checkbox checked
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“5. Did the estate or trust receive, or pay, any qualified residence interest on seller-provided financing?--No” checkbox
checked
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“9. Are any present or future trust beneficiaries skip persons? See page 25 of the instructions.--No” checkbox
checked
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