Form 41 - Schedule K-1 - Fiduciary Income Tax Return

beneficiaries and owners will be allocated their full share of income,

Schedule A, line 15.

deductions, and certain credits. Resident and nonresident estates

3. In place of a Schedule K-1 for each beneficiary, grantor trust

and trusts must determine the amount of Alabama source income and

should provide a grantor schedule statement of income, deduction,

deductions to be reported on the Alabama Schedule K-1s for nonres-

and credits as provided by ADOR (Schedule G).

ident beneficiaries and owners. Nonresident beneficiaries should re-

port to Alabama only the income shown on Schedule K-1, box 11.

Preparation of Alabama

Lines 1 through 9. Enter the resident beneficiary or owner’s share

Schedule G (For Form 41)

Alabama Fiduciary Income Tax Grantor Information. Enter the

of the allocated income type indicated on each line. Please provide

tax year information if other than for a calendar year. Also, on the

a detailed explanation and computations for the amounts reported on

upper right area of the form indicate if the Schedule G is final or

these lines.

amended.

Line 10. Enter the nonresident beneficiary share of the amount of

Grantor Information. Enter information requested about the

Alabama source income. Please provide a detailed explanation and

grantor.

computation for the amount reported on this line as well as the entire

Trust Information. Enter information about the trust.

amount of Alabama source income allocated to nonresident

beneficiaries.

Line 11. Enter the nonresident beneficiary share of the amount of

Grantor’s Share of Income/Deductions

Lines 1 through 7. Enter the resident grantor’s share of the allo-

non-Alabama source income. Please provide a detailed explanation

cated income type indicated on each line. Please provide a detailed

and computation for the amount reported on this line as well as the en-

explanation and computations for the amounts reported on these lines.

tire amount of non-Alabama source income allocated to nonresident

Line 8. Enter the nonresident grantor’s share of the amount of Ala-

beneficiaries/grantor.

bama source income. Please provide a detailed explanation and com-

Line 12a. Enter the resident beneficiary or owner’s share of the

putation for the amount reported on this line.

amount of directly apportioned depreciation. Please provide a de-

Line 9. Enter the nonresident grantor’s share of the amount of

tailed explanation and computation for the amount reported on this

non-Alabama source income. Please provide a detailed explanation

line.

and computation for the amount reported on this line.

Line 12b. Enter the resident beneficiary or owner’s share of the

Lines 10 through 16. Enter the resident grantor’s share of the al-

amount of directly apportioned depletion. Please provide a detailed

located deduction type indicated on each line. Please provide a de-

explanation and computation for the amount reported on this line.

tailed explanation and computations for the amounts reported on

Line 12c. Enter the resident beneficiary or owner’s share of the

these lines.

amount of directly apportioned amortization. Please provide a de-

Line 17. Enter the resident grantor or owner’s share of the amount

tailed explanation and computation for the amount reported on this

of directly apportioned depreciation. Please provide a detailed expla-

line.

nation and computation for the amount reported on this line.

Line 13. Enter the beneficiary’s share of the allocated composite

Line 18. Enter the resident grantor or owner’s share of the amount

payment.

of directly apportioned depletion. Please provide a detailed explana-

Line 14. Enter any other pertinent information concerning the ben-

tion and computation for the amount reported on this line.

eficiary’s share of income or deductions. The codes used on the fed-

Line 19. Enter the resident grantor or owner’s share of the amount

eral Schedule K-1 (Form 1041) may be used, if helpful.

of directly apportioned amortization. Please provide a detailed expla-

nation and computation for the amount reported on this line.

Line 20. Enter the amount of composite payments made on behalf

Visit the Alabama Department of Revenue’s Web site

( alabama.gov) to obtain copies of Alabama income

of the grantor for the tax year. Please provide the name and FEIN of

tax forms, schedules, and form preparation instructions.

the entity making the composite payment(s) – if multiple payers please

quirements. Grantor trusts, as described in 26 U.S.C. §671, have

attach a listing to the return.

Grantor Trust Returns – Alabama Grantor Trust Reporting Re-

an Alabama return filing requirement specified by §§40- 18-25 (g) and

Line 21. Enter the amount of income exempt from Alabama in-

40-18-29.

come taxation.

Those returns will be prepared as follows:

Line 22. Enter the amount of capital credit the grantor is entitled

1. The upper part of page 1 of the Alabama Form 41 will be

to in accordance with, and as limited by, §§40-18-190 through 40-18-

completed, providing the information requested concerning the grantor

203. Attach Form KRCC.

trust. Page 1 of the Alabama Form 41 must indicate the trust is a

Line 23. Enter any other pertinent information concerning the

grantor’s share of income or deductions. The codes used on the fed-

2. Enter zeroes page 1, line 1; line 5; line 6 and on page 2,

eral Schedule K-1 (Form 1041) may be used, if helpful.

grantor trust.

Form 41 - Schedule K-1 - Fiduciary Income Tax Return - 2014 Page 4

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