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Line 9a through Line 9c – Depreciation,

Line 13b

• Low Income Housing Credit. Get form FTB

depletion, and amortization

Total withholding is the sum of your

3521.

Any directly apportionable deduction, such

distributive share of taxes withheld from

• Manufacturing Enhancement Area Hiring

as depreciation, is treated by the beneficiary

payments to the estate or trust by another

Credit. Get form FTB 3808.

as having been incurred in the same activity

entity (allocated to all beneficiaries according

• Natural Heritage Preservation Credit. Get

as incurred by the estate or trust. The estate

to their respective estate or trust interests) plus

form FTB 3503.

or trust should provide you with a schedule

taxes withheld-at-source on you as a domestic

• New Jobs Credit. Get form FTB 3527.

showing your share of directly apportionable

or foreign nonresident beneficiary. If there is a

• Prison Inmate Credit. Get form FTB 3507.

deductions derived from each activity reported

pass-through withholding credit from another

• Research Credit. Get form FTB 3523.

on line 5 through line 8.

entity or taxes were withheld on you by the

• Targeted Tax Area – Sales or Use Tax Credit.

estate or trust, the estate or trust must provide

Get form FTB 3809.

Line 11a – Excess deductions on termination

you with a completed 2013 Form 592-B,

If you have an amount on Schedule K-1 (541),

The passive activity limitations of IRC

Resident and Nonresident Withholding Tax

line 11a, column (c), report this amount on

Section 469 may limit the amount of credits

Statement. Attach Form 592-B to the front

Schedule CA (540 or 540NR), Part II, line 41,

you may claim. Get form FTB 3801-CR, Passive

of your California income tax return to claim

enter as a positive or a negative, whichever is

Activity Credit Limitations.

the amount withheld. The amount shown on

applicable.

Line 14a – Tax-exempt interest

Form 592-B should be claimed on one of the

Line 11b – Capital loss carryover

Include any column (c) amount on

following:

If you have an amount on Schedule K-1 (541),

Schedule CA (540 or 540NR), line 8, column B

• Form 540, California Resident Income Tax

line 11b, column (c) report the amount on

or column C, whichever is appropriate.

Return, line 73.

Schedule D (540 or 540NR), line 6.

Line 14d – Other

• Long Form 540NR, California Nonresident

Line 11c and Line 11d – Net Operating Loss

Report any column (c) amount on Schedule CA

or Part-Year Resident Income Tax Return,

(NOL) Carryover

(540 or 540NR), line 17, column B or

line 83.

Upon termination of a trust or decedent’s

column C, whichever is appropriate.

• Form 541, California Fiduciary Income Tax

estate, a beneficiary succeeding to its property

If the estate or trust is claiming tax benefits

Return, line 31.

is allowed to deduct any unused NOL (and

from an EZ, LARZ, or LAMBRA, it will give

• Form 109, California Exempt Organization

any Alternative Minimum Tax (AMT) NOL)

you your distributive share of the business

Business Income Tax Return, line 17.

carryover for regular and AMT purposes if the

income, and business capital gains and losses

• Form 100, California Corporation Franchise

carryover would be allowable to the estate or

included in business income, apportioned

or Income Tax Return, line 34.

trust in a later tax year but for the termination.

to the EZ, LARZ, or LAMBRA on this line.

• Form 100S, California S Corporation

For taxable years beginning on or after

Get form FTB 3805Z, FTB 3806, Los Angeles

Franchise or Income Tax Return, line 33.

January 1, 2002, the NOL carryover

Revitalization Zone Deduction and Credit

Schedule K-1 (541) is not used to claim the

computation for the California taxable income

Summary, or FTB 3807 to claim the NOL,

withholding credit. If the estate or trust is not

of a nonresident or part-year resident is no

credit, or business deduction from any of these

on a calendar year, the amount on line 13b may

longer limited by the amount of net operating

economic development areas.

not match the amount on Form 592-B because

loss from all sources.

of the difference in accounting periods.

Line 12a – Adjustment for alternative

Line 13c – Taxes paid to other states

minimum tax purposes

You may claim a credit against your individual

If you have an amount on Schedule K-1

income tax on your share of the net income tax

(541), line 12, column (d), report this amount

paid to other states by the estate or trust. Get

on Schedule P (540), Alternative Minimum

Schedule S, Other State Tax Credit.

Tax and Credit Limitations — Residents, or

Line 13d – Other credits

Schedule P (540NR), Alternative Minimum

If applicable, the estate or trust will use this

Tax and Credit Limitations — Nonresidents

line, through an attached statement, to give

and Part-Year Residents, line 12, whichever is

you the information you need to compute

applicable.

credits related to a trade or business activity.

Line 12b through Line 12d

Credits that may be reported include the

• Schedule P (540) filers: Include any

following:

column (d) amount on Schedule P (540),

• California Motion Picture and Television

Part I, line 12.

Production Credit. Get form FTB 3541.

• Schedule P (540NR) filers: Include

• Community Development Financial

column (d) amounts on Schedule P

Institutions Investment Credit. Use credit

(540NR), Part I, line 12. and report

code 209.

column (e) amounts in Part I, line 29 (f).

• Disabled Access Credit for Eligible Small

Line 12e – Exclusion items

Businesses. Get form FTB 3548.

Include any column (d) or column (e) amount

• Donated Agricultural Products

on line 2 of form FTB 3510, Credit for Prior

Transportation Credit. Get form FTB 3547.

Year Alternative Minimum Tax — Individuals or

• Donated Fresh Fruits or Vegetables Credit.

Fiduciaries.

Get form FTB 3811.

• Enhanced Oil Recovery Credit. Get form

Line 13a – Trust payments of estimated tax

FTB 3546.

credited to you

• Enterprise Zone (EZ), Hiring and Sales or

Include on Form 540, California Resident

Use Tax Credit. Get form FTB 3805Z.

Income Tax Return, line 72 or Long

• Local Agency Military Base Recovery Area

Form 540NR, California Nonresident or

(LAMBRA) Hiring or Sales and Use Tax

Part-Year Resident Income Tax Return, line 82,

Credit. Get form FTB 3807.

any estimated tax payments paid by the trust

on your behalf.

Page 2 Schedule K-1 (541) Beneficiary Instructions 2013

California Schedule K-1 (Form 541) - Beneficiary'S Share Of Income, Deductions, Credits, Etc. - 2013 Page 3

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