Form Ia 1041 - Iowa Fiduciary Return - 2007 Page 2
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1
2Fiduciary Schedules A, B, C, D and E
Schedule A - Background Information:
Answer all applicable questions.
1. Date estate was opened or created _______________________________
2. Date of decedent’s death ______________________
3. Decedent’s business or occupation _______________________________
4. Decedent’s age at death _______________________
5. Was a decedent’s final return filed?
Yes
No
6. Did will of decedent create trust?
Yes
No
7. Did decedent file IOWA return(s) up to the date of death?
Yes
No If no, attach earnings statement or explanatory affidavit.
8. Enter decedent’s name, address, and Social Security Number on returns filed: _________________________________________________________
______________________________________________________________________________________________________________________________
9. Name and Social Security Number of decedent’s spouse, if any: _____________________________________________________________________
10. Enter name(s) of executor(s): __________________________________________________________________________________________________
11. Enter date(s) and amount(s) of executor’s fees paid to executor(s): ___________________________________________________________________
12. Had federal audit been made on prior returns of decedent or the estate or trust?
Yes
No
Is an audit now in the process?
Yes
No
13. Have expenses of administration or selling expenses been deducted for federal estate tax purposes?
Yes
No
14. Did you as fiduciary withhold on income distributions made to nonresident beneficiaries?
Yes
No
15. Does the estate/trust elect to recognize the gain or loss on a distribution of property under section IRC 643(d)(e)?
Yes
No
Schedule B - Beneficiaries’ Shares of Income and Credits:
Attach additional pages as necessary. In lieu of Sch. B, attach Federal Sch. K-1.
Beneficiary A
Beneficiary B
Beneficiary C
TOTALS
1. Names of each beneficiary ...................................... 1. ______________________________________________________________________________
2. Social Security Number ............................................ 2. ______________________________________________________________________________
3. Address ...................................................................... 3. ______________________________________________________________________________
4. Iowa resident (Yes/No) ............................................. 4. ______________________________________________________________________________
5. Net short-term capital gains ..................................... 5. ______________________________________________________________________________
6. Net long-term capital gain (100%) .......................... 6. ______________________________________________________________________________
7. Depreciation and depletion ...................................... 7. ______________________________________________________________________________
8. Ordinary income subject to Iowa income tax ......... 8. ______________________________________________________________________________
9. Income not subject to Iowa income tax .................. 9. ______________________________________________________________________________
10. Excess deductions .................................................. 10. ______________________________________________________________________________
REGARDING IOWA NONRESIDENT INCOME .........................................................................................................................................................................
11. Iowa income tax withheld, if any ........................... 11. ______________________________________________________________________________
12. Withholding agent’s identification number ........... 12. ______________________________________________________________________________
Schedule C - Computation of Nonresident’s Tax
Schedule D - Explanation of Expenses
1. Federal taxable income from federal 1041 .............. 1. _____________
Line No.
Explanation
Amount
____________________________________________________________
2. Interest and dividends from federal securities ......... 2. _____________
____________________________________________________________
3. Balance: Subtract line 2 from line 1 .......................... 3. _____________
____________________________________________________________
4. Deduction taken for state income tax ....................... 4. _____________
5. Interest and dividends from foreign, state and
____________________________________________________________
municipal securities .................................................... 5. _____________
____________________________________________________________
6. Exemption credit from federal 1041 .......................... 6. _____________
____________________________________________________________
7. Adjusted taxable income: Add lines 3 through 6 ..... 7. _____________
____________________________________________________________
8. Compute tax on the amount shown on line 7
____________________________________________________________
using Schedule E ........................................................ 8. _____________
$40.00
____________________________________________________________
9. Personal exemption credit ......................................... 9. _____________
____________________________________________________________
10. Tax before being prorated ...................................... 10. _____________
____________________________________________________________
11. Nonresident percentage: Divide amount on line
22, page 1, by amount on line 7, Schedule C.
____________________________________________________________
This may not be greater than 100%. ...................... 11. ____________ %
Schedule E - Tax Rates
12. Multiply line 10 by percentage on line 11 .............. 12. _____________
Taxable Income
Of Excess
13. Iowa lump sum tax: Attach federal schedule 4972 . 13. _____________
Over
But Not Over
Tax Rate
Over
$0
$1,343
0
+
(0.36%
x
0)
14. Iowa minimum tax: Attach IA6251 ......................... 14. _____________
$1,343
$2,686
$4.83
+
(0.72%
x
1,343)
15. Balance: Add lines 12, 13 and 14 .......................... 15. _____________
$2,686
$5,372
$14.50
+
(2.43%
x
2,686)
16. Motor fuel tax credit: Attach IA4136 ...................... 16. _____________
$5,372
$12,087
$79.77
+
(4.50%
x
5,372)
$12,087
$20,145
$381.95
+
(6.12%
x
12,087)
17. Other credits ............................................................. 17. _____________
$20,145
$26,860
$875.10
+
(6.48%
x
20,145)
18. Total credits: Add lines 16 and 17 ......................... 18. _____________
$26,860
$40,290
$1,310.23
+
(6.80%
x
26,860)
$40,290
$60,435
$2,223.47
+
(7.92%
x
40,290)
19. Total tax liability: Subtract line 18 from line 15.
$60,435
over
$3,818.95
+
(8.98%
x
60,435)
Enter on line 32, page 1. ........................................ 19. _____________
63-001b (7/12/07)
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