Form Ri-1041 - Rhode Island Fiduciary Income Tax Return 2002 Page 3
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32002
RI-1041
Name(s) shown on Form RI-1041
Employer identification number
RHODE ISLAND SCHEDULE D
PART 1
TAX COMPUTATION USING MAXIMUM CAPITAL GAINS RATES
(FOR TAXPAYERS WHO FILED FEDERAL SCHEDULE D OR
column A
COMPLETING PARTS 2 OR 3 BELOW)
column B
column C
1. RI Taxable Income - RI-1041, page 1, line 7……………………………………………………………..
1.
X 2.00% =
2. 8% capital gains - Federal Form 1041, schedule D, line 28……………………………………………………..
2.
X 2.50% =
3. 10% capital gains - Federal Form 1041, schedule D, line 30………………………………………………………..
3.
X 5.00% =
4. 20% capital gains - Federal Form 1041, schedule D, line 34……………………………………………………..
4.
X 6.25% =
5. 25% capitol gains - Federal Form 1041, schedule D worksheet, line 30………………………………….
5.
X 7.00% =
6. 28% capitol gains - Federal Form 1041, schedule D worksheet, line 33………………………………………..
6.
7. Total capital gains - add lines 2, 3, 4, 5 and 6 from column A……………………………………………………..
7.
8. Tax on RI capital gain income - add lines 2, 3, 4, 5 and 6 from column C…………………………………………………………………………………………
8.
9. RI ordinary income - subtract line 7 from line 1……………………………………………………………………….
9.
10. RI tax on line 9 - use RI Fiduciary Tax Rate Schedule…………………………………………………………………………………………….. 10.
11. RI tax on capital gain income and ordinary income - add lines 8 and 10………………………………………………………………………………………..
11.
12. RI tax on amount on line 1 - use RI Fiduciary Tax Rate Schedule………………………………………………………………………………………………………………………..
12.
13. Total RI income tax - (the smaller of line 11 or line 12)……………………………………………………………………………………………………………
13.
IF YOU HAVE NO TAX ON LUMP-SUM DISTRIBUTIONS OR RECAPTURE OF FEDERAL TAX CREDITS, ENTER AMOUNT
FROM LINE 13 ON LINE 18 BELOW. OTHERWISE, CONTINUE TO PARTS 2, 3 AND 4.
PART 2
TAX ON LUMP-SUM DISTRIBUTIONS
(FOR TAXPAYERS WHO FILED FEDERAL FORM 4972)
14. Tax on lump-sum distributions - Federal Form 1041, schedule G, line 1b…………………………………………………………………………………………………
14.
15. RI tax on lump-sum distributions - multiply line 14 by 25%…………………………………………………………………………………….. 15.
PART 3
RECAPTURE OF FEDERAL TAX CREDITS
(FOR TAXPAYERS WHO HAVE A RECAPTURE OF FEDERAL TAX CREDITS INCLUDED IN THEIR TAX)
16. Amount of recapture of federal tax credits - Federal Form 1041, schedule G, line 5………………………………………………………………………………..
16.
17. RI recapture taxes - multiply line 16 by 25%……………………………………………………………………………………………………….. 17.
PART 4
TOTAL OF PARTS 1, 2 AND 3
18. Total - add part 1, line 13; part 2, line 15 and part 3, line 17
Enter here and on RI-1041, page 1, line 8 and check the RI schedule D box……………………………………………………………………………….
18.
RI-6251 RHODE ISLAND ALTERNATIVE MINIMUM TAX
(FOR TAXPAYERS WHO FILED A FEDERAL FORM 6251)
19. Federal tentative alternative minimum tax - Federal Form 1041, schedule I, line 54…………………………………………………………………………………..
19.
20. RI tentative alternative minimum tax - multiply line 19 by 25 %…………………………………………………………………………………………………
20.
21. RI income tax - RI-1041, page 1, line 8…………………………………………………………………………………………………………………………………..
21.
22. Foreign tax credit - Federal Form 1041, schedule G, line 2a…………………………………………………………………………………….
22.
23. Multiply line 22 by line 25%……………………………………………………………………………………………………………………………………….
23.
24. Subtract line 23 from line 21…………………………………………………………………………………………………………………………………………
24.
25. RI alternative minimum tax - subtract line 24 from line 20 (if zero or less enter zero) - enter here and on RI-1041, line 9………………………………………………..
25.
page 3
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