Form 541 - California Fiduciary Income Tax Return - 2016 Page 3
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4Schedule B Income Distribution Deduction.
1 Adjusted total income. Enter amount from Side 1, line 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
00
2 Adjusted tax-exempt interest and nontaxable gain from installment sale of small business stock. See instructions. . . . . . . . . . . . . . 2
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3 Net gain shown on Schedule D (541), line 9, column (a). If net loss, enter -0-. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
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4 Enter amount from Schedule A, line 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
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5 Enter capital gain included on Schedule A, line 1c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
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6 If the amount on Side 1, line 4 is a gain, enter the amount here as a negative number.
If the amount on Side 1, line 4 is a loss, enter the loss as a positive number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
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7 Distributable net income. Combine line 1 through line 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
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8 Income for the taxable year determined under the governing instrument (accounting income) . . . . 8
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9 Income required to be distributed currently (IRC Section 651) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
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10 Other amounts paid, credited, or otherwise required to be distributed (IRC Section 661) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
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11 Total distributions. Add line 9 and line 10. If the result is greater than line 8, see federal Form 1041, Schedule B, line 11
instructions to see if you must complete Schedule J (541). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
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12 Enter the total amount of tax-exempt income included on line 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
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13 Tentative income distribution deduction. Subtract line 12 from line 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
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14 Tentative income distribution deduction. Subtract line 2 from line 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
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15 Income distribution deduction. Enter the smaller of line 13 or line 14 here and on Side 1, line 18 . . . . . . . . . . . . . . . . . . . . . . . . . . 15
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Schedule G California Source Income and Deduction Apportionment. Complete line 1a through line 1f before Part II.
Part I:
If a trust, enter the number of:
1 a California resident trustees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b Nonresident trustees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
c Total number of trustees (line a plus line b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
d California resident beneficiaries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
e Nonresident beneficiaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
f Total number of beneficiaries (line d plus line e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part II: Income Allocation. Complete column A through column F. Enter the amounts from lines 1-9, column F, on Form 541, Side 1, lines 1-9.
(A)
(B)
(C)
(D)
(E)
(F)
Apportioned
Remaining
Apportioned
Income
Income
Non-California
Income
Reportable to
California Source
Non-California
# CA Trustees X B
Source Income
# CA Beneficiaries X D
California
Type of Income
Income
Source Income
# Total Trustees
Col. B – Col. C
# Total Beneficiaries
(Col. A+C+E)
1 Interest
2 Dividends
3 Business income
4 Capital gain
5 Rents, royalties, etc.
6 Farm income
7 Ordinary gain
8 Other income
9 Total income
Deduction Allocation. Complete column G and column H. Enter the amounts from lines 10-15b, Column H, on Form 541, Side 1, lines 10-15b.
(G)
(G)
(H)
(H)
Type of Deduction
Total Deductions
Amounts Allocable To California
Type of Deduction
Total Deductions
Amounts Allocable To California
10 Interest
11 Taxes
12 Fiduciary fees
13 Charitable deduction
14 Attorney, accountant, and tax return preparer fees
15 a Other deduction not subject to 2% floor
b Allowable misc. itemized deductions subject to 2% floor
16 Total deductions
Form 541
2016 Side 3
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C1
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