Schedule Ct-1041 K-1 - Benefi Ciary'S Share Of Certain Connecticut Items - 2014 Page 2
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1
2Schedule CT- 1041 K-1
Instructions
Part I - Connecticut Fiduciary Adjustment
Complete the schedule in blue or black ink only.
Transfer entries for each benefi ciary from Schedule CT-1041B,
A fi duciary must furnish Schedule CT-1041 K-1, Benefi ciary’s
Column 5.
Share of Certain Connecticut Items, to each benefi ciary to report
the benefi ciary’s share of the Connecticut fi duciary adjustment,
Part II - Connecticut-Sourced Portion of Items
income, and credits from a trust or a decedent’s estate. The trust
or estate’s information must be properly completed.
Transfer entries for the nonresident benefi ciary from federal
Schedule K-1, Benefi ciary’s Share of Income, Deductions,
If the trust or estate does not have any fi duciary adjustments,
Credits, etc. Part II does not need to be completed if there is
Connecticut-sourced income, or credits reportable on Schedule
no Connecticut-sourced income.
CT-IT Credit, then Schedule CT-1041 K-1 does not need to be
completed on behalf of the benefi ciaries.
Part III - Schedule CT-IT Credit
Grantor trusts do not use Schedule CT-1041K-1 to report the
Complete Worksheet B, Worksheet for Schedule CT-IT Credit, on
income, deductions, or credits of the grantor or other person
Page 19. Transfer entries for the benefi ciary from the worksheet
treated as owner. See Grantor Trust on Page 5.
to the corresponding lines on Lines 1 through 4.
Instructions for Fiduciaries
General Instructions for Benefi ciaries
A fi duciary (or one of the joint fi duciaries) must complete Parts I,
Do not attach Schedule CT-1041 K-1 to Form CT-1040,
II, and III for each nonresident benefi ciary and Parts I and III
Connecticut Income Tax Return, or Form CT-1040NR/PY,
for each resident benefi ciary. A fi duciary must furnish Schedule
Connecticut Nonresident and Part-Year Resident Income Tax
CT-1041 K-1 on or before the fi fteenth day of the fourth month
Return.
following the close of the taxable year (April 15 if the trust or
Benefi ciaries Who Are Resident Individuals: Enter amount
estate’s taxable year for federal income tax purposes is the
from Schedule CT-1041 K-1, Part I, on Form CT-1040, Schedule 1,
calendar year). If the fi duciary requested an extension of time
Line 35, if positive, or Line 46, if negative.
to fi le Form CT-1041, Connecticut Income Tax Return for Trusts
and Estates, by timely fi ling Form CT-1041 EXT, Application
Use amount from Schedule CT-1041 K-1, Part III to complete
for Extension of Time to File Connecticut Income Tax Return
Schedule CT-IT Credit, Income Tax Credit Summary.
for Trusts and Estates, the deadline for furnishing Schedule
Benefi ciaries Who Are Nonresident or Part-Year Resident
CT-1041 K-1 to benefi ciaries is automatically extended to the
Individuals: Enter amount from Schedule CT-1041 K-1, Part I,
fi fteenth day of the ninth month following the close of the taxable
on Form CT-1040NR/PY, Schedule 1, Line 37, if positive, or
year (September 15 if the trust or estate’s taxable year for federal
Line 48, if negative.
income tax purposes is the calendar year).
Enter amounts from Schedule CT-1041 K-1, Part II, Lines 1
Copies of all Schedule CT-1041 K-1s issued by the fi duciary to
through 9, on the appropriate lines of Form CT-1040NR/PY,
the benefi ciaries must be fi led with the Department of Revenue
Schedule CT-SI, Nonresident or Part-Year Resident Schedule
Services (DRS). Do not attach Form CT-1041 K-1s to the trust
of Income from Connecticut Sources.
or estate’s Form CT-1041. Schedule CT-1041 K-1s must be
Use amount from Part III to complete Schedule CT-IT Credit.
attached to Form CT-1041 K-1T, Transmittal of Schedule
CT-1041 K-1 - Benefi ciary’s Share of Certain Connecticut Items,
Benefi ciaries That Are Trusts or Estates: Enter amounts from
and sent separately to DRS. Do not fi le Form CT-1041 K-1T and
Schedule CT-1041 K-1, Part I, on Form CT-1041, Schedule A,
Schedule CT-1041 K-1s if Form CT-1041 was electronically fi led
Line 5, if positive, or Line 11, if negative.
with DRS. See Form CT-1041 K-1T instructions.
Use the amounts from Schedule CT-1041 K-1, Part II, Lines 1
through 9, to calculate Connecticut taxable income of the trust
Specifi c Instructions for Schedule CT-1041 K-1
or estate.
Complete the Trust or Estate Information and the Benefi ciary
Use amounts from Schedule CT-1041 K-1, Part III, to complete
Information sections including the benefi ciary’s Social Security
Schedule CT-IT Credit.
Number (SSN) or Federal Employer Identifi cation Number (FEIN).
Check the box to indicate if the number is an SSN or FEIN.
You are required to attach Schedule CT-1041 K-1 to Form
CT-1041.
Check only one applicable box to identify the benefi ciary’s
resident status.
Part-Year Resident Benefi ciary: If the benefi ciary is a part-year
resident, indicate the date moved in or out of Connecticut.
Check only one applicable box to identify if this is an amended
or fi nal Schedule CT-1041 K-1.
Enter the benefi ciary’s portion and percentage of the distributable
net income (DNI).
Schedule CT-1041 K-1 Back (Rev. 12/14)
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