Instructions For Pa-41 Schedule B - Dividend And Capital Gains Distributions Income - Pennsylvania Department Of Revenue - 2016

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2016
Pennsylvania Department of Revenue
Instructions for PA-41 Schedule B
Dividend and Capital Gains Distributions Income
PA-41B (08-16)
trust’s federal Form 1041. If there are no
estate or trust. Do not include expenses
WHEN TO INCLUDE
amounts for Lines 2 through 11 (not
incurred to realize dividend income.
including subtotal Line 6) of PA
If the estate or trust’s total PA-taxable
LINE 5
Schedule B, stop here. An estate or
dividend and capital gains distributions
trust must report the amount on Line 2
income is equal to the amount reported
Add the amounts on Lines 2, 3 and 4.
of the PA-41 form but the estate or trust
on the estate or trust’s federal Form
is not required to include a copy of the
1041 and there are no amounts for Lines
LINE 6
PA-41 Schedule B with the PA-41.
2 through 11 (not including subtotal
Line 6) of Schedule B, the estate or trust
If the trust is not required to file a federal
Subtract Line 5 from Line 1.
must report the dividends and capital
return, see the instructions for Line 8.
gains distributions income on Line 2 of
LINE 7
the PA-41, Fiduciary Income Tax Return,
LINE 2
but the estate or trust does not have to
Total Exempt-Interest Dividends
submit Schedule B. If there are any
Enter the total amount of exempt-
If the estate or trust has any investments
amounts for any of the Lines 2 through
interest dividends (from Pennsylvania
in partnerships or S corporations or any
11 (not including subtotal Line 6) of
and non-Pennsylvania sources) from
dividend income from other estates or
Schedule B, the estate or trust must
Box 10 of federal Form 1099-DIV,
trusts, the estate or trust must include
complete and submit Schedule B with
Dividends and Distributions.
the amount reported for federal income
the estate or trust’s PA-41, Fiduciary
tax purposes. Enter the total amount of
LINE 8
Income Tax Return.
dividend income included in the amount
reported for Line 2 of federal Form 1041
GENERAL INFORMATION
If the estate or trust has adjustments to
from all federal Schedule(s) K-1.
federal-taxable dividend income that
PURPOSE OF SCHEDULE
increase the amount of dividend income
LINE 3
Use PA-41 Schedule B to report dividend
reported for federal purposes due
and capital gains distributions income of
to differences between Pennsylvania
If the estate or trust has investments in
estates and trusts.
and federal tax laws, enter any other
funds which have investments where
adjustments for items that increase
some of the income is tax exempt, the
FORM INFORMATION
PA-taxable dividend income and provide
exempt-interest dividends associated
a description of the amounts. Examples
with Pennsylvania or U.S. government
Name
include: distributions from non-PA S
obligations are not taxable for Pennsyl-
Enter the complete name of the estate
corporations and expenses incurred to
vania purposes. Enter the total amount
or trust as shown on the PA-41, Fiduciary
realize dividend income. Include a
of any exempt-interest dividends from
Income Tax Return.
statement providing the descriptions and
direct obligations of the Commonwealth
FEIN or Decedent’s SSN
amounts if more than one type of
of Pennsylvania, direct obligations of
adjustment is included in the amount
Enter the nine-digit federal employer
political subdivisions of Pennsylvania
reported for this line.
identification number (FEIN) of the estate
and/or direct obligations of the U.S.
or trust or the decedent’s Social Security
Government (U.S. Treasury Bonds,
If the estate or trust is not required to file
number as shown on the PA-41, Fiduciary
Notes, Bills, Certificates and Savings
a federal return, enter the amount of
Income Tax Return.
Bonds) included in any tax-exempt fund
dividend income reported to the trust in
or money market fund dividends.
Box 1 of all federal Forms 1099-DIV,
An estate with a FEIN should
Dividend and Distributions, as well as
not use the decedent’s Social
LINE 4
any other taxable dividend income
Security number.
received by the trust for federal grantor
Estates or trusts may need to record
trusts or other trusts not required to file
LINE INSTRUCTIONS
other adjustments to federal dividend
a federal tax return.
income to account for differences in
Please read the Line 2 Instructions on
Pennsylvania and federal tax laws and
LINE 9
Pages 17 and 18 of the Instructions for
where there is no specific line to record
Form PA-41 prior to completing this
that difference. Enter any other adjust-
For Pennsylvania purposes, capital
schedule.
ments that decrease PA dividend income
gains distributions are taxable as divi-
LINE 1
and provide a description of the amounts.
dend income not as capital gains as for
An example would include dividend
federal purposes. Enter the amount of
income for a nominee taxpayer recorded
Enter the amount of dividend income
capital gains distributions included as
reported on Line 2a of the estate or
on the 1099 as dividend income of the
capital gains on federal Schedule D.
PA-41 Schedule B
1
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