Form 1041-Qft - U.s. Income Tax Return For Qualified Funeral Trusts- 2012 Page 4
Download a blank fillable Form 1041-Qft - U.s. Income Tax Return For Qualified Funeral Trusts- 2012 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form 1041-Qft - U.s. Income Tax Return For Qualified Funeral Trusts- 2012 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
44
Form 1041-QFT (2012)
Page
Line 13—Tax
Expenses that are directly allocable to
• Federal income tax withheld (for example,
tax-exempt income are allocable only to
backup withholding).
Tax rate schedule. Unless the instructions
tax-exempt income. A reasonable proportion
• Credit for tax paid on undistributed capital
that follow for Schedule D or Composite
of expenses indirectly allocable to both tax-
gains. Also attach Copy B of Form 2439,
Return apply, figure the tax using the Tax
exempt income and other income must be
Notice to Shareholder of Undistributed
Rate Schedule below. Enter the tax on line 13.
allocated to each class of income.
Long-Term Capital Gains.
Limitations on Deductions
2012 Tax Rate Schedule
Line 17—Tax Due
Generally, the amount a QFT has “at-risk”
You must pay the tax in full when the return
If taxable
limits the loss it can deduct in any tax year.
is filed. Make the check or money order
income
But
Of the
Also, section 469 and its regulations generally
payable to “United States Treasury.” Write the
is:
not
amount
limit losses from passive activities to the
EIN from line 2 of the form and “2012 Form
Over—
over—
Its tax is:
over—
amount of income derived from all passive
1041-QFT” on the payment. Enclose, but do
15%
$0
$2,400
$0
activities. Similarly, credits from passive
2,400
5,600
2,400
not attach, the payment with Form 1041-QFT.
$360.00 + 25%
activities are generally limited to the tax
5,600
8,500
1,160.00 + 28%
5,600
attributable to such activities.
8,500
11,650
1,972.00 + 33%
8,500
Paperwork Reduction Act Notice. We ask
11,650
3,011.50 + 35%
11,650
- - - -
For details on these and other limitations on
for the information on this form to carry out
deductions, see Deductions in the
Schedule D. If the QFT had both a net
the Internal Revenue laws of the United
Instructions for Form 1041.
capital gain and any taxable income, or any
States. You are required to give us this
qualified dividends and any taxable income,
Line 9—Other Deductions Not Subject to
information. We need it to ensure that you are
complete Part V of Schedule D (Form 1041)
the 2% Floor
complying with these laws and to allow us to
on line 13 and enter the tax from line 34 of
figure and collect the right amount of tax.
Attach your own statement, listing by type
Schedule D.
and amount all allowable deductions that are
You are not required to provide the
Composite return. If this is a composite
not deductible elsewhere on the form.
information requested on a form that is
return, check this box and enter on line 13
subject to the Paperwork Reduction Act
▲
QFTs are not allowed a deduction
!
the total of the tax computed separately for
unless the form displays a valid OMB control
for a personal exemption.
each QFT using either the 2012 Tax Rate
number. Books or records relating to a form
Schedule above or Schedule D (Form 1041).
or its instructions must be retained as long as
CAUTION
their contents may become material in the
Line 14—Credits
Line 10—Allowable Miscellaneous Itemized
administration of any Internal Revenue law.
Specify the type of credit being claimed and
Deductions Subject to the 2% Floor
Generally, tax returns and return information
attach any required credit forms. If you are
are confidential, as required by section 6103.
These deductions are deductible only to the
claiming more than one type of credit, attach
extent that the aggregate amount of such
The time needed to complete and file this
a statement listing the type and amount of
deductions exceeds 2% of adjusted gross
form will vary depending on individual
each credit claimed. See the Instructions for
income (AGI).
circumstances. The estimated average time is:
Form 1041 for details on the credits that may
Among the miscellaneous itemized
Recordkeeping
.
.
.
.
9 hr., 34 min.
be claimed.
deductions that must be included on line 10
Learning about the law
Line 15—Net Tax
are expenses for the production or collection
or the form .
.
.
.
.
.
2 hr., 18 min.
of income, such as investment advisory fees.
If the QFT owes any additional taxes (for
Preparing the form
.
.
.
5 hr., 20 min.
example, alternative minimum tax, recapture
AGI is figured by subtracting from total
taxes, etc.), include these taxes on line 15. To
Copying, assembling,
income on line 5 the total of the
the left of the entry space, write the type and
and sending the form
administrative costs on lines 7 through 9 to
amount of the tax. Also attach to Form
to the IRS .
.
.
.
.
.
.
. 48 min.
the extent they are costs incurred in the
1041-QFT any forms required to figure these
administration of the QFTs that would not
If you have comments concerning the
taxes (for example, Schedule I (Form 1041)).
have been incurred if the property were not
accuracy of these time estimates or
See the Instructions for Form 1041 for more
held by the QFTs.
suggestions for making this form simpler, we
details on additional taxes that may apply.
would be happy to hear from you. You can
If this is a composite return, you must
write to the Internal Revenue Service, Tax
Line 16—Payments
figure the AGI separately for each QFT using
Products Coordinating Committee,
each QFT’s share of the amounts on the lines
Include on line 16 any of the following.
SE:W:CAR:MP:T:M:S, 1111 Constitution Ave.
referred to above.
• Estimated tax payments made for 2011.
NW, IR-6526, Washington, DC 20224. Do not
send the tax form to this address. Instead,
• Tax paid with a request for an extension of
see Where To File above.
time to file.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial