California Schedule J (Form 541) - Trust Allocation Of An Accumulation Distribution - 2011
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1
2TaXaBlE YEar
california ScHEDUlE
2011
J (541)
Trust Allocation of an Accumulation Distribution
Attach to Form 541.
References are to the Internal Revenue Code (IRC), as of January , 2009, and to the California Revenue and Taxation Code (R&TC).
Name of trust
fEin
-
Part I Accumulation Distribution
For definitions and special rules, see the federal Treasury Regulations under IRC Sections 665–668. See the instructions for federal Form 4970, Tax on
Accumulation Distribution of Trusts, for certain income minors may exclude and for special rules for multiple trusts.
Enter amount from 2011 Schedule B (541), line 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
___________________
2 Enter amount from 2011 Schedule B (541), line 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 ___________________
3 Enter amount from 2011 Schedule B (541), line 9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 ___________________
4 2011 distributable net income. Subtract line 3 from line 2. If line 3 is more than line 2, enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . 4
___________________
5 2011 accumulation distribution. Subtract line 4 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
___________________
Part II Ordinary Income Accumulation Distribution. Enter the applicable throwback years below.
If the distribution is thrown back more than four years (starting with
Throwback year
Throwback year
Throwback year
Throwback year
the earliest applicable taxable year beginning after December 31, 1968),
ending
ending
ending
ending
attach additional schedules. If the trust was a simple trust, see federal
__________
__________
__________
__________
Treasury Regulation Section 1.665(e) – 1A(b).
6 Distributable net income. See instructions. . . . . . . . . . . . . . . . .
6
7 Distributions. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . .
7
8 Undistributed net income. Subtract line 7 from line 6 . . . . . . . .
8
9 Enter amount from Part III, line 25 . . . . . . . . . . . . . . . . . . . . . .
9
0 Subtract line 9 from line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
0
Enter amount of prior accumulation distributions thrown back
to any of these years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2 Subtract line 11 from line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3 Allocate the amount on line 5 to the earliest applicable taxable
year first. Do not allocate an amount greater than the amount
on line 12 for the same year. . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
4 Divide line 13 by line 10 and multiply the result by line 9 . . . . .
4
5 Add line 13 and line 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
6 Tax-exempt interest included on line 13. See instructions . . . . .
6
7 Subtract line 16 from line 15 . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
Part III Taxes Imposed on Undistributed Net Income. Enter the applicable throwback years below.
If more than four throwback years are involved, attach additional
Throwback year
Throwback year
Throwback year
Throwback year
schedules. See General Instructions. If the trust received an
ending
ending
ending
ending
accumulation distribution from another trust, see the federal
__________
__________
__________
__________
Treasury Regulations under IRC Sections 665-668.
8 Tax. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
9 Total net capital gain. Enter amount from Form 541, Side 1,
line 6, for 1969-1979; Form 541, Side 1, line 7,
for 1980-1986; Form 541, Side 1, line 6, for 1987-1990;
Form 541, Side 1, line 4, for 1991-2010 . . . . . . . . . . . . . . . . . .
9
20 Net capital gain distributed to beneficiaries. See instructions . .
20
2 Net capital gain undistributed. Subtract line 20 from
2
line 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
22 Total taxable income. See instructions. . . . . . . . . . . . . . . . . . . .
22
23 Enter percent (divide line 21 by line 22) but not more
than 100% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
23
24 Multiply amount on line 18 by percent on line 23 . . . . . . . . . . .
24
25 Tax on undistributed net income. Subtract line 24 from
line 18. Enter here and on Part II, line 9. . . . . . . . . . . . . . . . . . .
25
Schedule J (541) 2011 Side
7861113
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