Instructions For Form 5462 - City Of Detroit Income Tax - Estates And Trusts Page 3

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payment Due or overpayment
These instructions are interpretations of the Detroit
Income Tax Ordinance. The Ordinance will prevail in
Line 24: If a payment is due, send payment, along with a
any disagreement between forms or instructions and
completed Form 5462, to the address detailed in the “Due
the Ordinance.
Date” section earlier in these instructions.
Line 25: If an overpayment exists, a taxpayer may elect a
refund of all or a portion of the amount and/or designate all or
a portion of the overpayment to be applied to next year’s tax
liability. Complete lines 25, 26 and 27 as applicable.
Line 26: Enter on this line the desired amount to use as an
estimated payment for the next tax year.
Line 27: Enter the amount of refund requested.
Reminder: Taxpayers must sign and date returns. Preparers
must provide a Preparer Taxpayer Identification Number
(PTIN), FEIN or Social Security number (SSN), a well as a
business name, business address and phone number.
Schedule G — Complete for Resident Beneficiaries
only
NOTE: Schedule G must be completed if any income is
distributed. Otherwise, it is not necessary.
Line 1 through 15: Enter in the appropriate column the name,
Social Security number or Federal Employer Identification
Number (FEIN) of each beneficiary of the estate or trust and
the amount distributable to that beneficiary. Carry the total
distributable income from Schedule G, line 16, to Form 5462,
line 14.
If additional space is needed, attach a schedule similar to
Schedule G identifying additional beneficiaries by consecutive
numbers. Carry the total for all beneficiaries to Form 5462, line
14.
other Supporting Forms
Federal Forms: Include a copy of the U.S. Form 1041.
Detroit Renaissance Zone: Include a copy of the City of
Detroit Renaissance Zone Approval Letter or Certificate if
claiming a Renaissance Zone deduction.
Resident Beneficiaries
A Detroit resident beneficiary must report their distributable
income from an estate or trust on their City of Detroit Resident
Income Tax Return (Form 5118) in the same manner and same
amounts they report the income on their federal return.
Beneficiaries should attach copies of the following items to
their Form 5118:
• U.S. Schedule K-1.
• The letter received from the fiduciary notifying him or her
of City of Detroit adjustments or City of Detroit income.
Assistance
Tax forms and instructions are available online at www.
michigan.gov/citytax. For assistance, call 517-636-5829.

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