Form 541 Draft - California Fiduciary Income Tax Return Page 4
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4Schedule A Charitable Deduction Do not complete for a simple trust or a pooled income fund. Attach statement listing the name
and address of each charitable organization to which your contributions totaled $3,000 or more.
a Amounts paid for charitable purposes from gross income . . . . . . . .
a _________________
b Amounts permanently set aside for charitable purposes
from gross income. See instructions . . . . . . . . . . . . . . . . . . . . . . . . .
b _________________
c Total. Add line 1a and line 1b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
c _________________
2 Tax-exempt income allocable to charitable contributions. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2 _________________
3 Subtract line 2 from line 1c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3 _________________
4 Capital gains for the tax year allocated to corpus and paid or permanently set aside for charitable purposes . . . . . . . . . . . . . . . . . .
4 _________________
5 Add line 3 and line 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5 _________________
6 R&TC Section 18152.5 exclusion allocable to capital gains paid or permanently set aside for charitable purposes . . . . . . . . . . . . .
6 _________________
7 Charitable deduction. Subtract line 6 from line 5. Enter here and on Side 1, line 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7 _________________
Schedule B Income Distribution Deduction
Adjusted total income. Enter amount from Side 1, line 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
_________________
2 Adjusted tax-exempt interest and nontaxable gain from installment sale of small business stock. See instructions . . . . . . . . . . . . .
2 _________________
3 Net gain shown on Schedule D (541), line 9, column a. If net loss, enter -0-. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3 _________________
4 Enter amount from Schedule A, line 4 (reduced by any allocable R&TC Section 18152.5 exclusion) . . . . . . . . . . . . . . . . . . . . . . . .
4 _________________
5 Enter capital gain included on Schedule A, line 1c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5 _________________
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 _________________
7 Distributable net income. Combine line 1 through line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7 _________________
8 Income for the taxable year determined under the governing instrument (accounting income). . . . . . . .
8 _________________
9 Income required to be distributed currently (IRC Section 651) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9 _________________
0 Other amounts paid, credited, or otherwise required to be distributed (IRC Section 661) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
0 _________________
Total distributions. Add line 9 and line 10. If the result is greater than line 8, see federal Form 1041
instructions for line 11 to see if you must complete Schedule J (541). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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2 Enter the total amount of tax-exempt income included on line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2 _________________
3 Tentative income distribution deduction. Subtract line 12 from line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3 _________________
4 Tentative income distribution deduction. Subtract line 2 from line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 _________________
5 Income distribution deduction. Enter the smaller of line 13 or line 14 here and on Side 1, line 18 . . . . . . . . . . . . . . . . . . . . . . . . .
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Non-California Source Income and Deduction Apportionment Worksheet
Income Allocation Worksheet
A
B
C
D
E
F
Apportioned
Remaining
Apportioned
CA Source
Non-CA
Based on the #
Non-CA
Based on the #
Income
Type of Income
Income
Source Income
of CA Trustees
Source Income
of CA Beneficiaries Reportable to CA
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 Worksheet
G
H
Type of Deduction
Total Deductions
Amounts Allocable to CA
0 Interest
Taxes
2 Fiduciary fees
3 Charitable deduction
4 Attorney, accountant, and return preparer fees
5a Other deduction not subject to 2% floor
5b Allowable misc. itemized deductions subject to 2% floor
Form 541
2006 Side 3
3163063
C1
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