Form 41 - Schedule P - Part-Year Resident Trust Computation Of Tax - 1998
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1
2PART-YEAR RESIDENT TRUST
1998
SCHEDULE P
COMPUTATION OF TAX
(Form 41)
Name of Trust
Federal Employer Identification No.
Oregon resident
From ________________ To ________________
Beneficiary
Fiduciary
1. Revised distributable net income from line 17, page 2
...................
1
2. Distribution deduction from line 15,
Schedule B, federal Form 1041, plus line 19, page 2
.....................................................
2
a. Tax-exempt income deducted in computing distribution
2a
deduction from line 12, Schedule B, federal Form 1041
........
2b
b. Line 2 plus line 2a
....................................................................
3. Percentage
Line 2b $
%
=
Line 1
$
3
4. Revised taxable income of fiduciary from line 20, page 2
....................................................................................
4
5. Fiduciary adjustment from line 32, page 2
Indicate whether to be
added or
subtracted
..........................
5
........................................
5a
a. Beneficiary’s share (line 5
% on line 3—see instructions)
b. Fiduciary’s share (line 5 minus line 5a)
.............................................................................................................
5b
6. Income to beneficiaries (total or net of lines 2 and 5a)
.......................................................
6
7. Taxable income of fiduciary (total or net of lines 4 and 5b)
...................................................................................
7
....................................................................................
8. Oregon taxable income of fiduciary (from line 7, Form 41)
8
9. Tax on amount on line 7 (use rate schedule, page 2, Form 41)
......................................................
9
10. Oregon Percentage
Line 8
$
%
=
10
Line 7
$
11. Oregon tax: line 9
% on line 10. Enter here and on line 8, Form 41
............................................11
INSTRUCTIONS
Schedule P is for computing the Oregon tax of a part-year
Step 2. Complete Schedule P as though the trust were a
resident trust. Do not use it for full-year Oregon trusts
full-year Oregon resident reporting income from all
or full-year nonresident trusts. Use Schedule P in com-
sources regardless of where derived. The amounts
bination with Form 41 to compute an allocated amount of
entered are based on the federal Form 1041 as filed. The
Oregon tax to Oregon-source taxable income.
Oregon tax on line 9 is computed as if the trust were a
full-year Oregon resident.
Step 1. Complete Oregon Form 41, lines 1–7, using
Oregon-source income only and the deductions directly
Step 3. Apportion the Oregon tax shown on line 9 of
related to that income. A federal Form 1041 may be used
Schedule P using the percentage determined on line 10.
as a worksheet to show Oregon-source amounts. Transfer
Enter the result on line 11 of Schedule P and on line 8 of
the amount on line 7 of Form 41 to Schedule P, line 8.
Oregon Form 41.
ATTACH THIS SCHEDULE TO THE OREGON FIDUCIARY INCOME TAX RETURN — FORM 41
150-101-051 (Rev. 9-98)
Page 1
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