Form 41 - Fiduciary Income Tax Return - 2007 Page 2
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507000241
FORM
2007
41
Alabama Fiduciary Income Tax Return
PAGE 2
Name of estate or trust
Employer identification number
Name and title of fiduciary
SCHEDULE A – ALABAMA CHARITABLE DEDUCTION. Do not complete for a simple trust or a pooled income fund.
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1 Amounts paid or permanently set aside for charitable purposes from gross income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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2 Alabama tax-exempt income allocable to charitable contributions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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3 Subtract line 2 from line1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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4 Capital gains for the tax year allocated to corpus and paid or permanently set aside for charitable purposes . . . . . . . . . . . . . . . . . . . . . . .
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5 Alabama Charitable Deduction. Add Line 3 and Line 4. Enter total here and on Page 3, Schedule C, Line 13, Column C . . . . . . . . . .
SCHEDULE B – COMPUTATION OF ALABAMA INCOME DISTRIBUTION DEDUCTION
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1 Alabama Adjusted Total Income (Page 1, Line 1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2 The amount of gain from the sale of capital assets, but only if the gain was allocated to corpus and not paid, credited,
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or required to be distributed to any beneficiary during the taxable year or not included in Line 4, Schedule A (see instructions). . . . . . . .
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3 Subtract the amount entered on Line 2 from the amount entered on Line 1, and enter in Line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 The amount of loss from the sale of capital assets – entered as a positive number, only if the loss was not considered
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in the determination of the amount to be paid, credited, or required to be distributed to any beneficiary during taxable year . . . . . . . . . . .
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5 Amount of tax exempt interest income excluded in computing Alabama taxable income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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6 Other adjustments – see instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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7 Alabama Distributable Net Income (Sum of Lines 3 through 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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8 If a complex trust, enter accounting income for the tax year as determined under the
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governing instrument and applicable local law. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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9 Income required to be distributed currently. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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10 Other amounts paid, credited, or otherwise required to be distributed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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11 Total distributions. add Lines 9 and 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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12 Enter the amount of tax-exempt income included on Line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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13 Tentative income distribution deduction. Subtract Line 12 from Line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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14 Tentative income distribution deduction. Subtract Line 5 from Line 7. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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15 Special Alabama Income Distribution Deduction (see instructions for applicability of the special limitation) . . . . . . . . . . . . . . . . . . . . . . . . .
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16 Alabama Income Distribution Deduction. Enter the smallest of Line 13, Line 14, or, if applicable, Line 15,
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on this line and on Page 1, Line 2. (Do not enter less than zero.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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