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2015 Instructions for Schedule J (541)

Trust Allocation of an Accumulation Distribution

References in these instructions are to the Internal Revenue Code (IRC), as of January 1, 2015, and to the California Revenue and Taxation Code (R&TC).

General Information

Ordinary Income Accumulation Distribution

Line 20 – Net capital gain distributed to

beneficiaries

Line 6 – Distributable net income

In general, for taxable years beginning on or after

Enter the applicable net capital gain distributed as

Enter the applicable amounts as follows:

January 1, 2015, California law conforms to the

follows:

Internal Revenue Code (IRC) as of January 1, 2015.

Throwback Year(s):

Amount From:

Throwback Year(s):

Amount From:

However, there are continuing differences between

1969-1978 . . . . . . . . . .Form 541, Schedule H, line 5

1969. . . . . . . Form 541, Side 1, line 17 plus amounts

1979 . . . . . . . . . . . . . . . . . . .Form 541, Part D, line 5

California and federal law. When California conforms

from Schedule F-1 (541), lines 1 and 2

to federal tax law changes, we do not always adopt

1980 . . . . . . . . . . . . . . . . . . . . . . . .Form 541, line 55

1970-1971 . . Form 541, Side 1, line 18 plus amounts

1981-1984 . . . . . . . . . . . . . . . . . . .Form 541, line 57

all of the changes made at the federal level. For

from Schedule F-1 (541), lines 1 and 2

more information, go to ftb.ca.gov and search for

1985-1986 . . . . . . . . . Form 541, Schedule 3, line 11

1972-1979 . . . . . .Schedule F-1 (541), lines 1(a)-1(c)

1987 . . . . . . . . . . . . . . . Form 541, Schedule 3, line 9

conformity. Additional information can be found

1980. . . . . . . . . . . . . . . Schedule K-1 (541), lines 2-4

in FTB Pub. 1001, Supplemental Guidelines to

1988-1998 . . . . . . . . . . Form 541, Schedule B, line 8

1981. . . . . . . . . . . . . . . Schedule K-1 (541), lines 1-3

1999-2014 . . . . . . . . . . Form 541, Schedule B, line 7

California Adjustments, the instructions for California

1982. . . . . . . . . . . . . . . . . . Schedule D (541), line 25

Schedule CA (540 or 540NR), and the Business

Line 7 – Distributions

1983. . . . . . . . . . . . . . . . . . Schedule D (541), line 30

Entity tax booklets.

Enter the applicable amounts for distributions made

1984. . . . . . . . . . . . . . . . . . Schedule D (541), line 33

The instructions provided with California tax forms

during earlier years as follows:

1985-1986 . . . . . . . . . . . . . Schedule D (541), line 28

are a summary of California tax law and are only

Throwback Year(s):

Amount From:

1987. . . . . . . . . . . . . . . . . . Schedule D (541), line 24

intended to aid taxpayers in preparing their state

1969-1978 . . . . . . . . . . Form 541, Schedule I, line 3

1988-2014 . . . . . . . . . . . . Schedule D (541), line 9(a)

income tax returns. We include information that is

1979 . . . . . . . . . . . . . . . . . . .Form 541, Part D, line 8

Line 22 – Total taxable income

most useful to the greatest number of taxpayers

1980 . . . . . . . . . . . . . . . . . . . . . . . .Form 541, line 58

Enter the applicable amounts as follows:

in the limited space available. It is not possible to

1981-1984 . . . . . . . . . . . . . . . . . . .Form 541, line 60

Throwback Year(s):

Amount From:

include all requirements of the California Revenue

1985-1986 . . . . . . . . . Form 541, Schedule 3, line 14

and Taxation Code (R&TC) in the tax booklets.

1969 . . . . . . . . . . . . . . . . . . . . . . . .Form 541, line 19

1987 . . . . . . . . . . . . . . Form 541, Schedule 3, line 13

1970-1971 . . . . . . . . . . . . . . . . . . .Form 541, line 20

Taxpayers should not consider the tax booklets as

1988-1998 . . . . . . . . . Form 541, Schedule B, line 12

authoritative law.

1972-1979 . . . . . . . . . . . . . . . . . . .Form 541, line 18

1999-2014 . . . . . . . . . Form 541, Schedule B, line 11

1980-1984 . . . . . . . . . . . . . . . . . . .Form 541, line 22

California has conformed to federal provisions of the

Line 16 – Tax-exempt interest included on line 13.

1985-1986 . . . . . . . . . . . . . . . . . . .Form 541, line 23

Taxpayer Relief Act of 1997 repealing the throwback

For each throwback year, divide line 15 by line 6 and

1987-1989 . . . . . . . . . . . . . . . . . . .Form 541, line 21

rules for certain domestic trusts. However, if the trust

multiply the result by one of the following:

1990-1996 . . . . . . . . . . . . . . . . . . .Form 541, line 19

did not pay tax on the beneficiary’s interest because

Throwback Year(s):

Amount From:

1997-2010 . . . . . . . . . . . . . . . . . . .Form 541, line 20

the beneficiary was contingent, the income that

1969-1978 . . . . . . . Form 541, Schedule H, line 2(a)

2011-2014 . . . . . . . . . . . . . . . . . . Form 541, line 20a

would have been taxed is included by the beneficiary

1979 . . . . . . . . . . . . . . . . Form 541, Part D, line 2(a)

Part IV

in the year it is distributable or distributed; see

1980 . . . . . . . . . . . . . . . . . . . . . Form 541, line 52(a)

R&TC Section 17745(b).

1981-1984 . . . . . . . . . . . . . . . . Form 541, line 54(a)

Allocation to Beneficiary

Purpose

1985-1986 . . . . . . . . . .Form 541, Schedule 3, line 3

Complete Part IV for each beneficiary. If the

1987 . . . . . . . . . . . . . . .Form 541, Schedule 3, line 2

accumulation distribution is allocated to more than

File Schedule J (541), Trust Allocation of an

1988-2014 . . . . . . . . . .Form 541, Schedule B, line 2

one beneficiary, attach an additional copy of

Accumulation Distribution, with Form 541,

Schedule J (541) with Part IV completed for each

Part III

California Fiduciary Income Tax Return, to report

additional beneficiary. If more than four throwback

an accumulation distribution by domestic complex

years are involved, attach additional schedules.

axes Imposed on Undistributed Net Income

trusts and certain foreign trusts.

For the regular tax computation, if there is a capital

Nonresident Beneficiaries.

Internet Access

gain, complete line 18 through line 25 for each

In the case of a nonresident beneficiary, enter on

throwback year. If there is no capital gain for any

line 26 through line 29, column (a), only that ratio

You can download, view, and print California tax forms

year (or there is a capital loss for every year), enter

of income from California sources as the amount

and publications at ftb.ca.gov.

on line 9 the amount of the tax for each year entered

on Part II, line 13 bears to the amount on Part II,

Specific Instructions

for line 18; do not complete Part III.

line 10. Enter on line 26 through line 29, column (b),

only that ratio of the amount on Part II, line 14 as the

If the trust received an accumulation distribution

Part I

amount in column (a) bears to the amount on Part II,

from another trust, see the federal Treasury

line 13.

Accumulation Distribution in 2015

Regulations under IRC Sections 665-668.

R&TC Section 17779 specifically excludes from

Attach separate schedules supporting allocation of

Line 18 – Tax

conformity IRC Section 665. Therefore, California

income to sources within and outside California.

Enter the applicable tax amounts as follows:

law does not conform to federal law to exempt

Under R&TC Section 17953, income from trusts

Throwback Year(s):

Amount From:

from taxation those accumulations occurring prior

deemed distributed to nonresident beneficiaries is

1969 . . . . . . . . . . . . . . . . . . . . . . . .Form 541, line 20

to a beneficiary turning age 21. For multiple trusts

income from sources within California only if the

1970-1971 . . . . . . . . . . . . . . . . . . .Form 541, line 21

exceptions, see IRC Sections 665 and 667(c). The

income is derived from sources within California.

1972-1979 . . . . . . . . . . . . . . . . . . .Form 541, line 19

trustee reports the total amount of the accumulation

Generally, for purposes of R&TC Section 17953, the

1980-1981 . . . . . . . . . . . . . . . . . . .Form 541, line 23

distribution.

nonresident beneficiary shall be deemed to be the

1982-1984 . . . . . . . . . . . . . . . . Form 541, line 23(c)

Part II

owner of intangible personal property from which the

1985-1986 . . . . . . . . . . . . . . . . Form 541, line 24(c)

income of the trust is derived.

1987-1989 . . . . . . . . . . . . . . . . Form 541, line 22(c)

You must complete Part III before completing this

1990-1996 . . . . . . . . . . . . . . . . Form 541, line 20(a)

If the beneficiary is a nonresident individual or a

part.

1997-2014 . . . . . . . . . . . . . . . . Form 541, line 21(a)

foreign corporation, see IRC Section 667(e) about

retaining the character of the amounts distributed to

Line 19 – Total net capital gain

determine the amount of withholding tax.

Enter the applicable amounts as follows:

The beneficiary may use form FTB 5870A, Tax on

Throwback Year(s):

Amount From:

Accumulation Distribution of Trusts, to compute the

1969-1979 . . . . . . . . . . . . . . . . . . . .Form 541, line 6

tax on the distribution.

1980-1986 . . . . . . . . . . . . . . . . . . . .Form 541, line 7

1987-1990 . . . . . . . . . . . . . . . . . . . .Form 541, line 6

1991-2014 . . . . . . . . . . . . . . . . . . . .Form 541, line 4

Schedule J (541) Instructions 2015 Page 1

2015 Instructions For Schedule J (541) - Trust Allocation Of An Accumulation Distribution

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