Rhode Island Fiduciary Income Tax Return Form 2001 printable pdf download

QUESTIONS?

2001

Forms and taxpayer information are

available:

•

Rhode Island Fiduciary

In Person – One Capitol Hill

Providence, RI

•

The Telephone – (401) 222-1040

Income Tax Return

•

The web –

2001 GENERAL INSTRUCTIONS

Any tax due must be paid in full with the return. Make

Division of Taxation

WHO MUST FILE

check or money order payable to the Rhode Island

One Capitol Hill

The fiduciary of a resident estate or trust must file a

Division of Taxation and send with the return to the

Providence, RI 02908-5806

return on Form RI -1041 if the estate or trust (1) is

Rhode Island Division of Taxation, One Capitol Hill,

required to file a federal income tax return for the

ALL OTHERS RETURNS

Providence, RI 02908-5808. An amount due of less

State of Rhode Island

taxable year or (2) had any Rhode Island taxable

than one dollar ($1) need not be paid.

Division of Taxation

income for the taxable year.

One Capitol Hill

The fiduciary of a nonresident estate or trust must file a

Refunds:

A refund will be made if an overpayment of income tax

Providence, RI 02908-5808

return on Form RI -1041 if the estate or trust had

is shown on the return, unless indicated on the return

income or gain derived from Rhode Island sources.

that such overpayment is to be credited to the

EXTENSION OF TIME

fiduciary’s estimated tax liability for 2002. No other

Any extension of time granted for filing a Rhode Island

DEFINATIONS

application for refund is necessary. Please note that no

Fiduciary Income Tax Return shall not operate to

A resident estate is the estate of a decedent who at his

refund can be made unless the return is properly signed.

extend the time for the payment of any tax due on such

death was a resident individual in this state.

Refunds of less than $1.00 will not be paid unless

return.

A resident trust means, to the extent that one or more

specifically requested.

In General -

beneficiaries are residents in Rhode Island:

(1)

A fiduciary that is required to file a Rhode Island

A trust created by will of a decedent who at

SIGNATURE

Fiduciary Income Tax Return shall be allowed an

his death was a resident individual in this

The Rhode Island Fiduciary Income Tax Return must

automatic four month extension of time to file

state, or

be signed. An unsigned return cannot be processed.

such return.

revocable

trust

which

becomes

Any paid preparer who prepares a taxpayer’s return

(2)

An application must be prepared in duplicate on

irrevocable upon the occurrence of any

must also sign as “preparer”. If a firm or corporation

form RI -8736.

event (including death) which terminates a

prepares the return, it should be signed in the name of

(3)

The original of the application must be filed on or

person’s power to revoke, but only after the

the firm or corporation.

before the date prescribed for the filing of the

event, and only if the person having the

return of the fiduciary with the Rhode Island

power to revoke was a Rhode Island

Division of Taxation.

WHOLE DOLLAR AMOUNTS

resident individual at the time of such event,

(4)

Such application for extension must show the full

The money items may be shown as whole dollar

amount properly estimated as tax for such

amounts.

Any amount under 50 cents may be

An irrevocable trust created by or consisting

fiduciary for such taxable year, and such

eliminated and any amount that is 50 cents or more

of property contributed by a person who is a

application must be accompanied by the full

must be increased to the next highest dollar.

resident individual in this state at the time

remittance of the amount properly estimated as

the trust was created or the property

tax which is unpaid as of the date prescribed for

ACCOUNTING PERIODS AND METHODS

contributed (a) while such person is alive

the filing of the return.

The accounting period for which Form RI-1041 is filed

and a resident individual in this state, and

NOTE: If no payment is required to be made with the

and the method of accounting used are the same as for

(b) after such person’s death if such person

Rhode Island extension form and the fiduciary is filing

federal income tax purposes. If the taxable year or the

died a resident individual of this state.

a federal extension form for the same period of time,

method of accounting is changed for federal income tax

then the fiduciary does not need to submit the Rhode

purposes, such change applies similarly to the state

WHAT SCHEDULES TO COMPLETE

Island form. Attach a copy of the Federal Form 8736

fiduciary return.

All estates and trusts must complete schedule I. If the

or the approved Federal Form 8800 to the Rhode Island

trust has a nonresident beneficiary, follow the

Fiduciary Income Tax Return at the time it is

REPORT

CHANGE

FEDERAL

instructions for a nonresident estate or trust.

submitted.

TAXABLE INCOME

Resident Estates and Trusts:

If the amount of the federal taxable income is changed

Complete schedule I and enter 1.000 on page 1, line 14.

WHERE TO GET FORMS

or corrected by the Federal Government, the fiduciary

If the estate or trust is claiming credit for income taxes

Additional forms and instructions may be

must report to the Rhode Island Division of Taxation

paid to another state, complete schedule I, schedule III

obtained from:

such change or correction within 90 days after the final

and enter 1.000 on page 1, line 14.

The website:

determination of such change or correction. Any

Nonresident Estates and Trusts:

The faxback system: (401) 274-3676

fiduciary filing an amended federal income tax return

If the all the income of the estate or trust is derived

The Division of Taxation: (401) 222-1111

must also file within 90 days thereafter an amended

solely from Rhode Island sources, complete schedule I

Rhode Island return.

and enter 1.0000 on page 1, line 14. If the estate or

TECHNICAL ASSISTANCE

trust has taxable income both within and without Rhode

WHEN AND WHERE TO FILE

If you have any questions regarding the preparation of

Island, complete schedules I and II.

The due date is April 15, 2002 for returns filed for the

the return, please submit full details to the Division of

calendar year 2001 and the 15

day of the fourth month

Taxation, One Capitol Hill, Providence, RI 02908-

PERIODS TO BE COVERED

following the close of the taxable year for returns filed

5801

The fiduciary taxable year for Form RI -1041 shall be

for a year ending other then December 31. Mail your

the same as the federal taxable year.

return to:

REFUND RETURNS

PAYMENTS OR REFUNDS

State of Rhode Island

Payments:

Page 1 of 3

Rhode Island Fiduciary Income Tax Return Form 2001

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