Form Pa-20s/pa-65 Schedule Rk-1 And Nrk-1 - Resident And Nonresident Schedules Of Pa S Shareholder/partnership/beneficiary Pass Through Income, Loss And Credits - 2006 Page 12
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Cash and property distributions actually made to the beneficiaries during the taxable year; and
•
Undistributed amounts that are either credited or payable or required to be currently distributed to the
beneficiary during the taxable year.
IMPORTANT: Do not take into account:
•
Amounts that are properly paid out of corpus as a gift or bequest of a specific amount of money; or
•
Amounts that were required to have been distributed in any prior taxable year; or
•
The market value of property distributed in kind as a gift or bequest of specific property.
Step 2. To compute the beneficiary’s Income of/from Estates or Trusts for entry on a PA-41 Schedule RK-1,
multiply the amount computed in Step 1 by a fraction, computed as follows. The numerator is the lesser of Line 3a
or Line 14a of PA-41 Schedule DD. The denominator is Line 13a of PA-41 Schedule DD. Multiply this amount by
the beneficiary’s year end distribution percentage and enter the amount on Line 6, Income of/from Estates or
Trusts on the PA-41 Schedule RK-1.
Step 3. To compute the beneficiary’s Income of/from Estates or Trusts for entry on a PA-41 Schedule NRK-1,
multiply the amount computed in Step 1 by a fraction, computed as follows. The numerator is the lesser of Line 3b
or Line 14b of PA-41 Schedule DD. The denominator is Line 13a of PA-41 Schedule DD. Multiply this amount by
the beneficiary’s year end distribution percentage and enter the amount on Line 4, Income of/from Estates or
Trusts on the PA-41 Schedule NRK-1.
CAUTION: Do not report the income of beneficiaries of estates and trusts on any lines of the PA-41 Schedules
RK-1 or NRK-1 except Line 6 of the PA-41 Schedule RK-1 and Line 4 of the PA-41 Schedule NRK-1. Distributed
or distributable income of a beneficiary of an estate or trust is always reported as estate or trust income by that
beneficiary.
PA-41 Schedule OC
The estate or trust must complete and include a separate
PA-41 Schedule OC
to report the amount of PA
Employment Incentive Payments Credit, PA Jobs Creation Tax Credit, PA Research and Development Tax
Credit, PA Film Production Tax Credit or PA Organ and Bone Marrow Donor Tax Credit. The PA-41 Schedule
OC is found on page 2 of the PA-41.
Line 1. PA Employment Incentive Payments Credit
Estates or trusts employing welfare recipients may be eligible for this credit. Submit a completed PA
Schedule W with copies of the Certification Form from the PA Department of Labor and Industry for each
employee. If a partner or a PA S corporation shareholder, enter on this line the credit amount from the
PA-41 Schedule(s) RK-1 or NRK-1 the estate or trust received.
Line 2. PA Jobs Creation Tax Credit
Enter the amount of approved credit from the PA Department of Community and Economic Development
certification the estate or trust received. If a partner or a PA S corporation shareholder, enter on this line
the credit amount from the PA-41 Schedule(s) RK-1 or NRK-1 the estate or trust received.
Line 3. PA Research and Development Tax Credit
Enter the amount from the PA Department of Revenue certification the estate or trust received. If a
partner or a PA S corporation shareholder, enter on this line the credit amount from the PA-41
Schedule(s) RK-1 or NRK-1 the estate or trust received.
Line 4. PA Film Production Tax Credit
Enter the amount from the PA Department of Revenue certification or the amount of approved credit from
the PA Department of Community and Economic Development certification the estate or trust received. If
a partner or a PA S corporation shareholder, enter on this line the credit amount from the PA-41
Schedule(s) RK-1 or NRK-1 the estate or trust received.
Line 5. PA Organ and Bone Marrow Donor Tax Credit ----- NEW
Enter the amount from the PA Department of Revenue certification that you received. If a partner or PA S
corporation shareholder, enter on this line the credit amount from the PA-41 Schedule(s) RK-1 or NRK-1
the estate or trust received.
35 PA-41
ONLINE VERSION
PA-41 Instructions Online Version (11-06-06).doc
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