Form N-40 - Schedule J - Trust Allocation Ofhawaii Form N-40 Schedule J An Accumulation Distribution - 2006
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1
2STATE OF HAWAII — DEPARTMENT OF TAXATION
TRUST ALLOCATION OF AN
SCHEDULE J
ACCUMULATION DISTRIBUTION
FORM N-40
2006
(REV. 2006)
File with Form N-40
See federal Instructions for Form 1041, Schedule J
For domestic complex trusts with tax year beginning _____________________ and ending ____________________
and which distributed income accumulated in earlier years.
Name of trust
Federal Employer I.D. No.
Accumulation Distribution in 2006
Part I
1.
Other amounts paid, credited, or otherwise required to be distributed for 2006 (from Schedule B (Form N-40), line 12) . .
1
2.
Distributable net income for 2006 (from Schedule B (Form N-40), line 9). . . . . . . . .
2
3.
Income required to be distributed currently for 2006 (from
Schedule B (Form N-40), line 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
4.
Line 2 minus line 3. If line 3 is more than line 2, enter zero. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
5.
Accumulation distribution for 2006 (Line 1 minus line 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
Ordinary Income Accumulation Distribution (Enter the applicable throwback years below.)
Part II
Throwback Year
Throwback Year
Throwback Year
Throwback Year
Throwback Year
If the distribution is thrown back to more than five
years (starting with the earliest applicable tax year
beginning after December 31, 1968), attach
additional schedules.
6.
Enter Distributable Net Income as
determined under the governing
instrument (Accounting Income) . . . .
6
7.
Distributions (Enter line 13, Schedule
B, Form N-40 for 1990 through
2005; line 1, Schedule G, Form
N-40 for 1987 through 1989; for
years prior to 1987, enter total of
columns 3 & 4, Schedule C, Form
N-40, for each throwback year). . . . .
7
8.
Line 6 minus line 7 . . . . . . . . . . . . . .
8
9.
Enter amount from line 25, Part III . .
9
10. Undistributed net income (Line 8
minus line 9) . . . . . . . . . . . . . . . . . . .
10
11. Enter amount of prior accumulation
distributions thrown back to any of
these years . . . . . . . . . . . . . . . . . . . .
11
12. Line 10 minus line 11 . . . . . . . . . . . .
12
13. Allocate amount on line 5 to earliest
applicable year first, but not more
than line 12 for the same year . . . . .
13
14. Divide line 13 by line 10 and multiply
result by amount on line 9. . . . . . . . .
14
15. Add lines 13 and 14 . . . . . . . . . . . . .
15
16. Tax-exempt interest included on line
13 (Divide line 15 by line 6 and
multiply result by line 2(c), Schedule
B (Form N-40), or equivalent for
applicable throwback year) . . . . . . . .
16
17. Line 15 minus line 16 . . . . . . . . . . . .
17
SCHEDULE J
FORM N-40
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