Form 1041me - Income Tax Return For Resident And Nonresident Trusts And Estates - 2004 Page 2
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1
2FORM 1041ME, page 2 -
Enclose with your Form 1041ME
SCHEDULE 1 - FIDUCIARY ADJUSTMENT
00
(Enter combined amounts for both the beneficiaries and the estate or trust)
*0409111*
1 ADDITIONS — Income exempt from federal income tax, but taxable by Maine law:
,
.00
a Income from municipal and state bonds, other than Maine ............................................................................. 1a
,
.00
b Net Operating Loss Recovery Adjustment (attach schedule) ........................................................................... 1b
,
.00
c Maine State Retirement Contributions .............................................................................................................. 1c
,
.00
d Fiduciary Adjustment-additions only ................................................................................................................. 1d
,
.00
e Bonus Depreciation and IRC §179 Expense Add-back (See instructions) ...................................................... 1e
,
.00
f Other. List _________________________ (See instructions) ....................................................................... 1f
,
.00
g Total additions (add lines 1a through 1f) ........................................................................................................... 1g
2 DEDUCTIONS — Income exempt from Maine income tax, but taxable by federal law:
,
.00
a U.S. Government Bond interest included in federal taxable income ................................................................ 2a
,
.00
b Social Security and Railroad Retirement Benefits included in federal taxable income (see instructions) ...... 2b
,
.00
c Interest from Maine Municipal General Obligation & Private Activity Bonds included in federal taxable income ... 2c
d Maine State Retirement System Pick-Up Contributions paid during 2004
,
.00
which have been previously taxed by the state ................................................................................................ 2d
,
.00
e Federal Work Opportunity Credit/Federal Empowerment Zone Credit ............................................................ 2e
,
.00
f Bonus Depreciation and IRC § 179 Recapture (See instructions) .................................................................... 2f
,
.00
g Other. List ______________________________________ (See instructions) ............................................. 2g
,
.00
h Total Deductions (add lines 2a through 2g) ...................................................................................................... 2h
,
.00
3 Net Fiduciary Adjustment (subtract line 2h from line 1g — see instructions [may be a negative amount]) ........ 3
Resident trusts or estates: If the trust’s/estate’s share of distributable net income is less than 100%, multiply the result of subtracting line 2h from line 1g
($_____________) by Schedule 2, Column 3, line f. Enter result here and on page 1, line 2. Nonresident trusts or estates: Enter total fiduciary adjustment
here and on Schedule NR, line 4. Do not apply the allocation rate from Schedule 2 at this time; the rate will be applied when completing Schedule NR.
SCHEDULE 2 — ALLOCATION OF FEDERAL INCOME AND MAINE-SOURCE INCOME
1. Name
2. Share of income
3. Percent
4. State of
5. Social security
6. Maine-source income allocated
B = beneficiary
(copy from federal return)
domicile
number/EIN of
to nonresident beneficiaries
TE = trust or estate
beneficiaries
(
a
)
B
-
$
%
$
(
b
)
B
-
$
%
$
(
c
)
B
-
$
%
$
(
d
)
B
-
$
%
$
(
e
)
B
-
$
%
$
(
) f
T
E
-
$
%
(
g
)
T
o
t
l a
$
1
0
0
%
$
Nonresident: Line g, column 6: Enter the amount from Schedule NR, line 5, column B. Complete column 6 for nonresident beneficiaries based on
the amount entered on line g, column 6, and also based on the percentages in column 3.
SCHEDULE 3 - CREDIT FOR INCOME TAX PAID TO ANOTHER JURISDICTION
.00
,
1 Maine taxable income from Form 1041ME, page 1, line 3 ..................................................................................... 1
.00
,
2 Income taxed by ( ______________________________ other jurisdiction) included in line 1 ........................... 2
3 Percentage of income taxed by other jurisdiction (divide line 2 by line 1) ............................................................. 3
______________________ %
4 Limitation of credit:
.00
,
a Form 1041ME, page 1, line 4 $ ___________ multiplied by _______ % on line 3 above ........................... 4a
.00
,
b Income taxes paid to other jurisdiction net of tax credits .................................................................................. 4b
.00
,
5 Allowable credit: line 4a or 4b, whichever is less. Enter here and on Form 1041ME, Schedule A, line 4 ........... 5
Special instructions for taxpayers who claim credit for income tax paid to more than one other jurisdiction: Credit for each jurisdiction must be computed separately.
Use a separate Schedule 3 for each one. Add the results together and enter total on Schedule A, line 4.
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