California Form 5870a - Tax On Accumulation Distribution Of Trusts - 2016

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Tax on Accumulation
TAXABLE YEAR
CALIFORNIA FORM
2016
5870A
Distribution of Trusts
Attach to beneficiary’s tax return.
Name(s) as shown on your tax return
SSN or ITIN
-
-
Name of trust
FEIN
-
Address of trust (number and street, apt., suite, PO box, or PMB no.)
City
State
Zip code
-
Beneficiary’s date of birth (mm/dd/yyyy)
/
/
Enter number of trusts from which you received
accumulation distributions in this taxable year.
_____________________
Month
Day
Year
Part I
Tax on Accumulation Distribution under Internal Revenue Code Section 667.
Section A — Average Income and Determination of Computation Years
1 Amount of current distribution that is considered distributed in earlier taxable years from Schedule J (541),
line 30, column (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
00
2 Distributions of income accumulated before you were born or reached age 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
00
3 Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
00
4 Taxes imposed on the trust on amounts from line 3 from Schedule J (541), line 30, column (b) . . . . . . . . . . . . . . . . . . . .
4
00
5 Total . Add line 3 and line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
00
6 Tax-exempt interest included on line 5 from Schedule J (541), line 30, column (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
00
7 Taxable part of line 5 . Subtract line 6 from line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
00
8 Number of trust’s earlier taxable years in which amounts on line 7 are considered distributed . . . . . . . . . . . . . . . . . . . . .
8
9 Average annual amount considered distributed . Divide line 3 by line 8 . . . . . . . . . . . . .
9
00
10 Multiply line 9 by 25% ( .25) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10
00
11 Number of trust’s earlier taxable years to be taken into account . See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
12 Average amount for recomputing tax . Divide line 7 by line 11 . Enter here and in each column on line 15 below . . . . . . . .
12
00
13 Enter your taxable income before this distribution for the five immediately preceding taxable years:
2015
2014
2013
2012
2011
13
Section B — Tax Attributable to the Accumulation Distribution
(a)
(b)
(c)
Year ________
Year ________
Year ________
14 Enter the amounts and the years from line 13, eliminating the
highest and lowest taxable income years . . . . . . . . . . . . . . . . . . .
14
15 Enter amount from line 12 in each column . . . . . . . . . . . . . . . . .
15
16 Recomputed taxable income . Add line 14 and line 15 . . . . . . . . .
16
17 Tax on amounts on line 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17
18 Tax before credits on line 14 income . . . . . . . . . . . . . . . . . . . . . .
18
19 Additional tax before credits . Subtract line 18 from line 17 . . . . .
19
20 Tax credit adjustment . Attach schedule . . . . . . . . . . . . . . . . . . . .
20
21 See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21
22 Alternative minimum tax adjustments . . . . . . . . . . . . . . . . . . . . .
22
23 Combine line 21 and line 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
23
24 Add column (a), column (b), and column (c) of line 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
24
00
25 Divide the amount on line 24 by 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25
00
26 Multiply the amount on line 25 by the number of taxable years on line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
26
00
27 Enter the amount from line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
27
00
28 Partial tax attributable to the accumulation distribution . Subtract line 27 from line 26 . If zero or less, enter -0- .
See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
28
00
7701163
FTB 5870A 2016 Side 1
For Privacy Notice, get FTB 1131 ENG/SP.

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