Arizona Schedule 141az K-1 - Resident Or Part-Year Resident Beneficiary'S Share Of Fiduciary Adjustment - 2011

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2011 Resident or Part-Year Resident
Arizona Schedule
Beneficiary's Share of Fiduciary Adjustment
141AZ K-1
Phone Numbers
Resident Beneficiary
If you have any questions, please call one of the following
Line 3 shows your share of the fiduciary adjustment from
numbers:
the estate or trust.
Phoenix
(602) 255-3381
If the amount on line 3 is a positive number, you must report
From area codes 520 & 928 toll-free
(800) 352-4090
this amount as an addition to income on your Arizona
Hearing impaired TDD user:
return. If you are an individual, report this amount as an
Phoenix
(602) 542-4021
other addition to income on your Arizona Form 140, page 2,
From area codes 520 & 928 toll-free
(800) 397-0256
line B11.
You may also visit our web site at
If the amount on line 3 is a negative number, you must
report this amount as a subtraction from income on your
Instructions to Fiduciary
Arizona return. If you are an individual, make this
subtraction on your Arizona Form 140, page 2, line C29.
Complete a Form 141AZ, Schedule K-1, for each resident or
part-year resident beneficiary.
Part-Year Resident Beneficiary
File one copy of each Schedule K-1 with the fiduciary's
Form 141AZ.
If you are a part-year resident individual, report estate or
trust income received while you were an Arizona resident.
Provide all beneficiaries with a copy of their Schedule K-1.
Also, report estate or trust income received from Arizona
Keep a copy for your records.
sources while you were a nonresident. Report this income on
Arizona Form 140PY, page 2, line B14 (ARIZONA
Beneficiary's Share of Fiduciary Adjustment
column).
The amount that you should report on your
Arizona Form 140PY, page 2, line B14 (FEDERAL column)
Line 1 -
is the amount from your federal income tax return.
Enter the net fiduciary adjustment to be allocated to
If the amount on line 3 is a positive number, enter that
beneficiaries from Form 141AZ, Schedule C, line C14. If
portion of line 3 that is allocable to estate or trust income
this is a negative amount, enter the amount in brackets.
taxable by Arizona on Form 140PY, page 2, line C23.
Line 2 -
If the amount on line 3 is a negative number, enter that
Enter the percentage of the beneficiary's share of federal
portion of line 3 that is allocable to estate or trust income
distributable net income from Form 141AZ, Schedule C.
taxable by Arizona on Form 140PY, page 2, line D35.
Line 3 -
Multiply line 1 by the percentage on line 2. Enter the result.
If the result is a negative number, enter the number in
brackets. This is the beneficiary's share of the fiduciary
adjustment.
Instructions to Beneficiary
The fiduciary uses Form 141AZ, Schedule K-1, to report to
you your share of the fiduciary adjustment from the trust or
estate.
Do not file this Schedule K-1 with your return. Keep this
Schedule K-1 with your records. The fiduciary filed a copy
of this form with the department.

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