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purposes if the carryover would be allowable to

to the front of your California income tax return

• Enhanced Oil Recovery Credit. Get form

the estate or trust in a later tax year but for the

to claim the amount withheld. The amount

FTB 3546

termination.

shown on Form 592-B should be claimed on

• Donated Agricultural Products

one of the following:

Transportation Credit. Get form FTB 3547

For taxable years beginning on or after

• Disabled Access Credit for Eligible Small

January 1, 2002, the NOL carryover

• Form 540, California Resident Income Tax

Businesses. Get form FTB 3548

computation for the California taxable income

Return, line 38.

• Manufacturing Enhancement Area Hiring

of a nonresident or part-year resident is no

• Long Form 540NR, California Nonresident

Credit. Get form FTB 3808

longer limited by the amount of net operating

or Part-Year Resident Income Tax Return,

• Targeted Tax Area Hiring and Sales or Use

loss from all sources.

line 44.

Tax Credit. Get form FTB 3809

• Form 541, California Fiduciary Income Tax

Line 12a – Adjustment for alternative

Return, line 31.

The passive activity limitations of IRC

minimum tax purposes

• Form 109, California Exempt Organization

Section 469 may limit the amount of credits

Enter your share of adjustment for AMT

Business Income Tax Return, line 17.

you may claim. Get form FTB 3801-CR, Passive

purposes on Schedule P (540), Alternative

• Form 100, California Corporation Franchise

Activity Credit Limitations.

Minimum Tax and Credit Limitations —

or Income Tax Return, line 34.

Residents, or Schedule P (540NR), Alternative

Line 14a – Tax-exempt interest

• Form 100S, California S Corporation

Minimum Tax and Credit Limitations —

Include any column (c) amount on

Franchise or Income Tax Return, line 33.

Nonresidents and Part-Year Residents.

Schedule CA (540 or 540NR), line 8, column B

Schedule K-1 (541) is not used to claim the

or column C, whichever is appropriate.

Line 12b through Line 12d

withholding credit. If the estate or trust is not

Schedule P (540) filers: Include any

Line 14d – Other

on a calendar year, the amount on line 13b may

column (d) amount on Schedule P (540),

Report any column (c) amount on Schedule CA

not match the amount on Form 592-B because

Part I.

(540 or 540NR), line 17, column B or

of the difference in accounting periods.

column C, whichever is appropriate.

Schedule P (540NR) filers: Include column (d)

Line 13c – Taxes paid to other states

amounts on Schedule P (540NR), Part I and

If the estate or trust is claiming tax benefits

You may claim a credit against your individual

report column (e) amounts in Part II.

from an EZ, LARZ, or LAMBRA, it will give you

income tax on your share of the net income tax

your distributive share of the business income,

Line 12e – Exclusion items

paid to other states by the estate or trust. Get

and business capital gains and losses included

Include any column (d) or column (e) amount

California Schedule S, Other State Tax Credit.

in business income, apportioned to the EZ,

on line 2 of form FTB 3510, Credit for Prior

Line 13d – Other credits

LARZ, or LAMBRA on this line. Get form

Year Alternative Minimum Tax — Individuals or

If applicable, the estate or trust will use this

FTB 3805Z, FTB 3806, or FTB 3807 to claim

Fiduciaries.

line, through an attached statement, to give

the NOL, credit, or business deduction from

Line 13a – Trust payments of estimated tax

you the information you need to compute

any of these economic development areas.

credited to you

credits related to a trade or business activity.

Include on Form 540, line 37 or Long

Credits that may be reported include the

Form 540NR, line 45, any estimated tax

following:

payments paid by the trust on your behalf.

• Enterprise Zone (EZ), Hiring and Sales or

Line 13b

Use Tax Credit. Get form FTB 3805Z

Total withholding is the sum of your

• Orphan Drug Credit Carryover. Get form

distributive share of taxes withheld from

FTB 3540

payments to the estate or trust by another

• Research Credit. Get form FTB 3523

entity (allocated to all beneficiaries according

• Residential Rental and Farm Sales Credit

to their respective estate or trust interests) plus

Carryover. Get form FTB 3540

taxes withheld-at-source on you as a domestic

• Commercial Solar Electric System

or foreign nonresident beneficiary. If there is a

Carryover. Get form FTB 3540

pass-through withholding credit from another

• Employer Child Care Program/Contribution

entity or taxes were withheld on you by the

Credit. Get form FTB 3501

estate or trust, the estate or trust must provide

• Local Agency Military Base Recovery Area

you with a completed Form 592-B, Nonresident

(LAMBRA) Hiring or Sales and Use Tax

Withholding Tax Statement. Attach Form 592-B

Credit. Get form FTB 3807

Page 32 Form 541 Booklet 2008

Instructions For Schedule K-1 (541) Draft - Beneficiary'S Share Of Income, Deductions, Credits, Etc. - 2008 Page 5

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