Form N-40 - Fiduciary Income Tax Return - 2002 Page 2
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Schedule A — COMPUTATION OF CHARITABLE DEDUCTION (See Instructions for Schedule A)
(Submit statement giving name and address of charitable organizations)
1.
Amounts paid or permanently set aside for charitable purposes from current year’s gross income.................................
1
2.
(a) Tax exempt interest and other income nontaxable irrespective of source,
allocable to charitable distribution............................................................................
2(a)
(b) Income of a nonresident estate or trust nontaxable because it is derived
from property owned outside Hawaii or other source outside Hawaii, allocable
to charitable distribution...........................................................................................
2(b)
(c)
Total (Add lines 2(a) and 2(b))..................................................................................................................................
2(c)
3.
Balance (Line 1 minus line 2(c)) .......................................................................................................................................
3
4.
Enter the net short-term capital gain and the net long-term capital gain of the current tax year allocable to
corpus paid or permanently set aside for charitable purposes .........................................................................................
4
5.
Amounts paid or permanently set aside for charitable purposes from gross income of a prior year
(See Instructions)..............................................................................................................................................................
5
6.
Total (Add lines 3, 4, and 5). Enter here and on page 1, line 13, IF TOTAL OF CHARITABLE DISTRIBUTIONS
ARE TO BE USED EXCLUSIVELY IN HAWAII. In other cases, complete line 7 ............................................................
6
7.
(a) Portion of line 6 amount which is to be used exclusively in Hawaii .........................
7(a)
(b) Portion of excess of line 6 amount over amount on line 7(a) which is within
percentage limitations (See Instructions).................................................................
7(b)
(c)
Enter here and on page 1, line 13, the sum of lines 7(a) and (b) .............................................................................
7(c)
Schedule B — COMPUTATION OF INCOME DISTRIBUTION DEDUCTION (See Instructions for Schedule B)
1.
Enter amount from page 1, line 17, computed by using Schedule A, line 6 for page 1, line 13 (If loss, see Instructions)
1
2.
(a) Tax-exempt interest and other income nontaxable irrespective of
source (as adjusted) ...............................................................................................
2(a)
(b) Nontaxable income of nonresident estate or trust from property owned
outside Hawaii or other source outside Hawaii (as adjusted) .................................
2(b)
(c)
Add lines 2(a) and 2(b) .............................................................................................................................................
2(c)
3.
Net gain shown on Schedule D (Form N-40), line 17, column (a) (If net loss, enter zero)................................................
3
4.
Schedule A, line 4 plus line 5............................................................................................................................................
4
5.
Long-term capital gain, included on Schedule A, line 1 (See Instructions) ......................................................................
5
6.
Short-term capital gain, included on Schedule A, line 1 (See Instructions) .....................................................................
6
7.
If the amount on page 1, line 6, is a capital loss, enter here as a positive figure..............................................................
7
8.
If the amount on page 1, line 6, is a capital gain, enter here as a negative figure............................................................
8
9.
Distributable net income (Combine lines 1 through 8) ......................................................................................................
9
10.
Amount of income for the tax year determined under the governing
instrument (accounting income).......................................................................................
10
11.
Amount of income required to be distributed currently (See Instructions) ........................................................................
11
12.
Other amounts paid, credited, or otherwise required to be distributed (See Instructions) ................................................
12
13.
Total distributions (Add lines 11 and 12). (If greater than line 10, see Instructions) ........................................................
13
14.
Enter the total amount of tax-exempt income included on line 13 ....................................................................................
14
15.
Tentative income distribution deduction (Line 13 minus line 14) ......................................................................................
15
16.
Tentative income distribution (Line 9 minus line 2(c)).......................................................................................................
16
17.
Income distribution deduction. Enter the smaller of line 15 or line 16 here and on page 1, line 18 .................................
17
Please refer to federal Form 1041 Instructions for definitions and check the applicable boxes.
Type of entity:
Nonexempt charitable and split-interest trusts,
check applicable boxes:
Decedent’s estate
Simple trust
Described in IRC section 4947(a)(1)
Complex trust
Not a private foundation
Grantor type trust
Described in IRC section 4947(a)(2)
Bankruptcy estate — Chapter 7
Bankruptcy estate — Chapter 11
Family estate trust
Pooled mortgage account:
Pooled income fund
Bought
Sold
Date:
THIRD PARTY DESIGNEE
May the Hawaii Department of Taxation discuss this return with the preparer shown on page 1 of this return? This does not
replace Form N-848, Power of Attorney. (See page 2 of the Instructions)
Yes
No
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