Form 770 - Virginia Fiduciary Income Tax Return

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Form 770 (2009), Page 2

NAME & FEIN FROM PAGE 1

Schedule 2 — Virginia Taxable Income of a Nonresident Estate or Trust

Net Virginia Source Income

A. Distributable

B. Nondistributable

1. Federal total income from sources within Virginia ..........................................................................................1

2. Federal deductions attributable to income from sources within Virginia ........................................................2

3. Net Virginia source income. Subtract Line 2 from Line 1 ...............................................................................3

4. Virginia source income allocation schedule. When completing Column 4, multiply Line 3A above by the percentage in Column 3 below and enter in

Column 4. Enter the amount from Line 3B above in Line 4b, Column 5.

Column 1

Column 2

Column 3

Column 4

Column 5

Federal Distributable

Percentage

Virginia Source

Net Income

Distributable Net Income

Nondistributable Net Income

a. Beneﬁ ciaries (Total for all beneﬁ ciaries)

b. Fiduciary

c. Total

100%

5. Deduction for distributions to beneﬁ ciaries. Enter the amount of Line 4a, Column 4, or Line 4a, Column 2, whichever is less . .5

6. Fiduciary’s Share of Virginia Source Income. Sum of Line 4b, Column 4 or

Column 2, whichever is less, plus Line 4b Column 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6

7. Exemption from federal Form 1041 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7

8. Income taxable to ﬁ duciary. Subtract Line 7 from Line 6. Enter here and on Line 1 on Page 1 . . . . . . . . . . . . . . . . . . . . . . . . . .8

Schedule 3 — Modiﬁ cations

PART I — Additions to Federal Taxable Income

1. Interest on obligations of other states . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1

2. Income taxes of this state or any other taxing jurisdiction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2

3. Fixed Date Conformity Additions. See instructions. Enter here and on Line 2FA on Page 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . .3

4. Other additions to federal taxable income as provided in instructions. Attach explanation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4

5. TOTAL ADDITIONS. Add Lines 1 through 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5

PART II — Subtractions from Federal Taxable Income

6. Income (interest, dividends or gains) on obligations or securities of the U.S. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6

7. Any state income tax refund or credit reported as “other income” on federal Form 1041 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7

8. Fixed Date Conformity Subtractions. See instructions. Enter here and on Line 2FS on Page 1 . . . . . . . . . . . . . . . . . . . . . . . . .8

9. Other subtractions from federal taxable income as provided in instructions. Attach explanation . . . . . . . . . . . . . . . . . . . . . . . . .9

10. TOTAL SUBTRACTIONS. Add Lines 6 through 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10

11. Net Virginia modiﬁ cations. Subtract Line 10 from Line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

12. Net Virginia modiﬁ cations allocated to the ﬁ duciary. Multiply Line 11 by the ﬁ duciary’s percentage of federal

distributable net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12

If Line 12 is a net addition, enter on Line 2(a) on Page 1. If Line 12 is a net subtraction, enter on Line 2(b) on Page 1.

Schedule 4 — Computation of the Credit for Tax Paid to Another State (See Instructions)

1. Taxable income reported on the other state’s ﬁ duciary income tax return. Attach a copy of the other return . . . . . . . . . . . . . . . .1

2. Virginia taxable income. Enter the taxable income from Line 3, Page 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2

3. Total income tax paid to another state. Enter the name of the other state: _________________________ . . . . . . . . . . . . . . . .3

4. Virginia income tax. Enter the tax from Line 4, Page 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4

5. Allowable percentage for credit. Compute to one decimal place (e.g., 10.5%). Maximum: 100%

Resident estate or trust: Divide Line 1 by Line 2. Nonresident estate or trust: Divide Line 2 by Line 1 . . . . . . . . . . . . . . . . . . . .5

6. Resident estate or trust: Multiply Line 5 by Line 4. Nonresident estate or trust: Multiply Line 5 by Line 3 . . . . . . . . . . . . . . . . . .6

7. Allowable credit. Resident estate or trust: Enter the smaller amount from Line 3 or Line 6.

Nonresident estate or trust: Enter the smaller amount from Line 4 or Line 6.

Also enter this amount on Line 5(d), Page 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7

I declare under the penalties provided by law that this return, including accompanying schedules and statements, has been examined by me and to the best of my

knowledge and belief is true, correct and complete. I (we) authorize the Dept. of Taxation to discuss this return with my (our) preparer. If yes, check here.

Signature of Fiduciary or Ofﬁ cer Representing Fiduciary

Date

Daytime Phone Number

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Sign Here

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Signature of Preparer Other Than Fiduciary

Date

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