Form D407 - Estates And Trusts Income Tax Return - 2004 Page 2
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Legal Name (First 10 Characters)
Federal Employer ID Number
D-407
2004
Estate Information:
Trust Information:
Date Trust Created
Date of Decedent’s Death
Name and Address
of Grantor
If no return filed last year,
reason why
If no return filed last year,
reason why
Schedule A. North Carolina Fiduciary Adjustments (See instructions.)
Additions to Federal Taxable Income
.
00
1.
1. Interest income from obligations of states other than North Carolina
.
00
2. State, local, or foreign income taxes deducted on the federal return
2.
.
00
3. Adjustment for additional first-year depreciation
3.
.
00
4. Other additions to federal taxable income (See instructions)
4.
.
00
5. Total additions to federal taxable income (Add lines 1 through 4)
5.
Apportion the additions on Line 5 between the beneficiaries and the fiduciary on Schedule B, Line 3 below
Deductions from Federal Taxable Income
.
6. Interest income from obligations of the United States or United States’ possessions
00
6.
.
7. Taxable portion of Social Security and Railroad Retirement benefits
00
7.
.
8. Federal, state, or local government retirement benefits exclusion
00
8.
(Not to exceed $4,000 - See instructions)
.
00
9.
9. Private retirement benefits exclusion (Not to exceed $2,000)
.
00
10.
10. Add Lines 8 and 9
.
00
11. Enter the amount from Line 10 or $4,000, whichever is less
11.
.
00
12. State, local, or foreign income tax refunds reported as income on federal return
12
.
.
00
13. Other deductions from federal taxable income (See instructions)
13.
.
00
14. Total deductions from federal taxable income (Add Lines 6, 7, 11, 12, and 13)
14.
Apportion the deductions on Line 14 between the beneficiaries and the fiduciary on Schedule B, Line 4 below
Important
Schedule B. Allocation of Adjustments (See instructions.)
If more than three beneficiaries, include separate schedule for additional beneficiaries.
Attach other pages
Fiduciary
Beneficiary 1
Beneficiary 2
Beneficiary 3
if needed.
1.
Identifying Number
2.
Name
3.
Additions
4.
Deductions
Important: The fiduciary must provide each beneficiary an NC K-1 for Form D-407 or other information necessary for the beneficiary to
prepare the appropriate North Carolina Income Tax Return.
Tax Rate Schedule
If the amount on Page 1, Line 7
is more than
But not over
The tax is
$0
$12,750
6% of the amount on Line 7
$12,750
$60,000
$765 + 7% of amount over $12,750
$120,000
$60,000
$4,072.50 + 7.75% of amount over $60,000
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$120,000
$8,722.50 + 8.25% of amount over $120,000
MAIL TO: NC Department of Revenue, P.O. Box 25000, Raleigh, NC 27640-0645
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