California Form 5870a - Tax On Accumulation Distribution Of Trusts - 2003
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1
2YEAR
CALIFORNIA FORM
2003
5870A
Tax on Accumulation Distribution of Trusts
Attach to beneficiary’s tax return.
Name(s) as shown on your return
Social security number
-
-
Federal employer identification no. (FEIN)
Name of trust
-
Address of trust (number and street, including suite number, PO Box, City, State, and ZIP Code)
PMB no.
Enter number of trusts from which you received
Beneficiary’s date of birth
accumulation distributions in this tax 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 years from Schedule J (541), line 30, column (a) . .
1
2 Distributions of income accumulated before you were born or reached age 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3 Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
4 Taxes imposed on the trust on amounts from line 3 from Schedule J (541), line 30, column (b) . . . . . . . . . . . . . . . . . . . . .
4
5 Total. Add line 3 and line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
6 Tax-exempt interest included on line 5 from Schedule J (541), line 30, column (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
7 Taxable part of line 5. Subtract line 6 from line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
8 Number of trust’s earlier years in which amounts on line 7 are considered distributed . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
8
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
9 Average annual amount considered distributed. Divide line 3 by line 8 . . . . . . . . . . . . .
9
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
10 Multiply line 9 by 25% (.25) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10
1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 9 0 1 2 3
11 Number of trust’s earlier tax 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
13 Enter your taxable income before this distribution for the five immediately preceding years:
2002
2001
2000
1999
1998
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 Subtract line 20 from line 19. 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
25 Divide the amount on line 24 by 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25
26 Multiply the amount on line 25 by the number of years on line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
26
27 Enter the amount from line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
27
28 Partial tax attributable to the accumulation distribution. Subtract line 27 from line 26. If zero or less, enter -0-.
See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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5870A03104
FTB 5870A 2003 Side 1
For Privacy Act Notice, get form FTB 1131.
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