Fillable Form It-41 - Fiduciary Income Tax Return (Page 6 of 10) in pdf

RETURN INDICATOR

Tax forms are also available at any of our district offices through-

out the state of Indiana. These offices are open Monday – Friday

Please check the appropriate box to indicate if this is the First

from 8:00 a.m. to 4:30 p.m. To find the nearest district office,

Return, Final Return, or Amended Return. Also, indicate by

check out the list at

checking the box if there is a change in the Fiduciary Name or

Address and if there are any Schedule K-1’s attached.

LOSSES OR NEGATIVE ENTRIES

ROUNDING TO THE NEAREST WHOLE DOLLAR

Use negative sign (dash) before any losses or negative entries.

Example:

-100 indicates a loss of $100.

When making your mathematical calculations on the return, you

may choose to round your numbers to the nearest whole dollar.

To do so, drop any cents less than 50 cents and increase amounts

NAME AND ADDRESS

from 50 cents to 99 cents to the nearest whole dollar. For ex-

Carefully enter the name of estate or trust, name and title of Fiduciary,

ample: $100.32 would be $100.00. $100.65 would be $101.00.

and complete address (as they appear on the Federal Form 1041).

SIGNATURE

NONBUSINESS INCOME

The IT-41 Form must be signed by the Fiduciary (Trustee, Execu-

Income received from Indiana sources is considered Indiana

tor, Personal Representative, etc.) to be considered a valid return.

income to nonresidents, except certain types of Indiana source

income that are subject to tax only by the taxpayer’s state of legal

TAXABLE YEAR

residence. Interest, dividends, royalties and gains from the sale

The taxable year shall be the calendar or fiscal taxable year of

of capital assets are subject to tax only by the taxpayer’s state of

the taxpayer as shown on Form 1041, US Income Tax Return for

legal residence unless such income results from the conduct of a

Estates and Trusts.

trade or business in Indiana. If a trade or business is conducted

in Indiana, the income should be reported as Indiana income.

Income from a qualified pension, annuity, or profit sharing plan

WHEN TO FILE

is subject to tax by the taxpayer’s state of legal residence. Lump

This return must be filed by the 15th day of the 4th month fol-

sum distributions from qualified plans are subject to tax by the

lowing the close of the taxable year. For retirement plans filing

state that, at the time of distribution, is the taxpayer’s state of

Federal Form 990T, the return must be filed by the 15th day of

legal residence. Deferred compensation other than from a quali-

the 5th month following the close of the taxable year.

fied retirement plan, accumulated vacation, bonus, severance,

sick pay, and income from a stock option plan are directly attrib-

WHERE TO FILE

utable to services performed, and are taxable by the state where

the services were performed.

Returns With Payment

Indiana Department of Revenue

Fiduciary Section

PRIOR-YEAR RETURNS

PO Box 6192

When filing a return for a previous year, make certain to indi-

Indianapolis, IN 46206-6192

cate the appropriate year ending date on the IT-41. There are no

separate returns for filing for a previous year.

All Other Returns

Indiana Department of Revenue

RESIDENCY DETERMINATIONS

Fiduciary Section

PO Box 6079

For purposes of filing the Indiana Fiduciary Income Tax Return,

Indianapolis, IN 46206-6079

estates and trusts are classified as either resident or nonresident.

For Indiana purposes, the residence of an estate or trust is

determined by the place where it is administered. Therefore,

WHO MUST FILE

you must determine where the trustee or personal representative

A fiduciary is a trustee of a trust, or an executor, executrix,

is located and where the records are kept for the trust or estate.

administrator, administratrix, personal representative, or person

in possession of property of a decedent’s estate. The fiduciary is

Resident estates or trusts are taxable on all income from all

responsible for filing this return.

sources regardless of where it is earned. Therefore, resident fidu-

ciaries must report all income wherever derived.

WITHHOLDING REQUIREMENTS

Trusts and estates must withhold Indiana adjusted gross income

Nonresident estates and trusts are taxable in Indiana on all income

tax from certain payments or credits of income to nonresidents.

derived from Indiana sources. Income derived from sources

The withholding agent must report the net income and tax with-

within and without Indiana shall be determined under IC 6-3-2-2.

held from this income on Form WH-18, Indiana Miscellaneous

Nonresident estates and trusts must adjust federal taxable income

Withholding Tax Statement for Nonresidents.

(or loss) to reflect taxable income allocable to Indiana.

Form It-41 - Fiduciary Income Tax Return Page 6

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