Form 741 - Kentucky Fiduciary Income Tax Return - 1998 Page 2
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2Form 741 (1998)
Page 2
SCHEDULE A—CHARITABLE DEDUCTION (Do not complete for a simple trust or pooled income fund.)
1. Amounts paid for charitable purposes from current year’s gross income ......................................................... 1
2. Amounts permanently set aside for charitable purposes from current year’s gross income ......................... 2
3. Add lines 1 and 2 ...................................................................................................................................................... 3
4. Tax-exempt income allocable to charitable contribution (see federal instructions) .......................................... 4
5. Subtract line 4 from line 3 ....................................................................................................................................... 5
6. Amounts paid or set aside for charitable purposes other than from the current year’s income ..................... 6
7. Total (add lines 5 and 6). Enter here and on page 1, line 13 ................................................................................ 7
SCHEDULE B—INCOME DISTRIBUTION DEDUCTION (See federal instructions.)
1. Adjusted total income (enter amount from page 1, line 17) ................................................................................ 1
2. Adjusted tax-exempt interest .................................................................................................................................. 2
3. Net gain shown on Schedule D, Form 741, column 1, line 17 (if net loss, enter zero) ...................................... 3
4. Enter amount from Schedule A, line 6 ................................................................................................................... 4
5. Long-term capital gain included on Schedule A, line 3 ........................................................................................ 5
6. Short-term capital gain included on Schedule A, line 3 ....................................................................................... 6
7. If the amount on page 1, line 4 is a capital loss, enter here as a positive figure ............................................... 7
8. If the amount on page 1, line 4 is a capital gain, enter here as a negative figure .............................................. 8
9. Distributable net income (combine lines 1 through 8) ......................................................................................... 9
10. Accounting income for the tax year determined under the governing instrument ........................................... 10
11. Amount of income required to be distributed currently ....................................................................................... 11
12. Other amounts paid, credited or otherwise required to be distributed .............................................................. 12
13. Total distributions (add lines 11 and 12) (If greater than line 10, see federal instructions.) ............................. 13
14. Enter the amount of tax-exempt income included on line 13 .............................................................................. 14
15. Tentative income distribution deduction (subtract line 14 from line 13) ............................................................ 15
16. Tentative income distribution deduction (subtract line 2 from line 9) ................................................................ 16
17. Income distribution deduction (enter the smaller of line 15 or line 16 here and on page 1, line 18) ............... 17
ADDITIONAL INFORMATION REQUIRED
1. Was a Kentucky fiduciary income tax return filed for
4. If a federal audit changed the taxable income as
1997?
Yes
No. If "No," state reason.
originally reported for any prior year, a copy of the
Revenue Agent’s Report must be submitted to the
Revenue Cabinet. Do not attach to this return.
5. Did the fiduciary have income or loss reported on
the federal return but not on the Kentucky return?
Yes
No. If "Yes," an itemized schedule
showing the difference must be attached. If the
difference is federal obligations (i.e., U.S. govern-
ment bonds, etc.) the itemized list must show the
issuing agencies and the amount of income
attributable to each.
2. If the fiduciary has income not taxed by Kentucky,
6. During the taxable year did you make an
have you deducted only that portion of expenses
accumulation distribution as defined in Sec. 665(b),
allocable to taxable income?
Yes
No. If
Internal Revenue Code?
Yes
No. If "Yes,"
"Yes," attach computation.
attach federal Schedule J (Form 1041).
3. Did the estate or trust have any passive activity
7. If this is an amended return, check the appropriate
loss(es)?
Yes
No. (If "Yes," enter the loss(es)
box on page 1. Write the word "AMENDED" at top of
on Form 8582-K, Kentucky Passive Activity Loss
page 1 and attach a copy of original return clearly
Limitations, to determine the allowable loss.)
identified as "COPY OF ORIGINAL."
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