Form Sc1041 - Fiduciary Income Tax Return - 2014

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STATE OF SOUTH CAROLINA
SC1041
1350
1350
DEPARTMENT OF REVENUE
FIDUCIARY INCOME TAX RETURN
(Rev. 7/24/14)
3084
2014
For the calendar year 2014 or Fiscal Taxable Year Beginning
, 2014 and ending
, 2015
FEIN
Name of Estate or Trust
File this Return by the 15th Day of the
4th Month after close of Tax Year.
Name and Title of Fiduciary
Balance Due:
DO NOT WRITE IN
SC DEPARTMENT OF REVENUE
THIS SPACE
TAXABLE FIDUCIARY
Address of Fiduciary (Number and Street)
COLUMBIA, SC 29214-0038
Refund or Zero Tax:
SC DEPARTMENT OF REVENUE
City, State, ZIP Code and County
NONTAXABLE FIDUCIARY
14-0828
COLUMBIA, SC 29214-0039
ATTACH COPY OF FEDERAL FORM 1041 AND ALL ITS SCHEDULES, INCLUDING SCHEDULES K-1.
Extension Requested:
Yes
A. Check whether:
D. Has final distribution of assets
B. If trust, check whether:
C. Also check if:
been made during the year?
Amended
Simple trust
Testamentary
Resident estate or trust
Nonresident estate or trust
Estate
Complex trust
Inter vivos
Yes
No
Grantor Trust
Electing Small Business Trust
E. During this taxable year, was this estate or trust notified of any federal change for any prior years?
YES or
NO If YES, attach copy.
F. Is a federal Schedule K-1 attached for each beneficiary?
YES or
NO
If YES, how many?
If NO, attach explanation.
Does the estate or trust have any South Carolina modifications? . . . . . . . . . . . . . . . . . . . . . . . . . . .
YES
or
NO
If the estate or trust has any nonresident beneficiaries, is any income from SC sources? . . . . . . . . .
YES
or
NO (or not applicable)
Does line 22, federal Form 1041 reflect any taxable income of the fiduciary? . . . . . . . . . . . . . . . . . .
YES
or
NO
If NO to ALL three questions, do NOT complete the remainder of this form.
If a NONRESIDENT estate or trust with income from both South Carolina and Non-South Carolina sources - complete and attach Part III, page 3 of SC1041.
1. FEDERAL TAXABLE INCOME
. . . . . . . . . . . . . .
1
(Residents: federal Form 1041; Nonresidents: line 22, column D, Part III)
. .
2. Federal fiduciary exemption included in line 1 above . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3. South Carolina Modifications relating to gains allocated to principal or relating to other items not affecting federal
distributable net income (attach explanation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
4. Fiduciary's Share of SC Fiduciary Adjustment (from line 1i, Part II)
Addition
Subtraction . . . . . . . . . . . . . .
4
5. NET (combine lines 1 to 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
6. South Carolina fiduciary exemption (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
<
>
7. SOUTH CAROLINA TAXABLE INCOME (line 5 less line 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
8. SOUTH CAROLINA TAX (see instructions for tax computation schedule) . . . . . . . . . . . . . . . . .
8
9. TAX
Lump Sum Distribution
Active Trade
Business Income
on
(attach SC4972) and/or
or
(I-335)
9
10. Less NON-REFUNDABLE CREDITS (attach SC1040TC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
<
>
10
11. Combine lines 8 - 10 and enter the results here BUT NOT LESS THAN ZERO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
12. South Carolina income tax withheld for nonresident beneficiaries (From Part IV) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12
13. TOTAL TAX (add lines 11 and 12 and enter here) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13
14. Amount paid with request for extension and SC Withholding . . . . . . . . . . . . . . . . . . . . . . . .
14
15. 2014 Estimated Payments from SC1041ES (and amount applied from 2013 return) . . . . . .
15
16. Total Payments (add lines 14 and 15) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16
17. Overpayment (line 16 less line 13) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17
18. Late Filing and/or late payment:
Penalties
Interest
Enter total here
18
19. If subject to penalty for Underpayment of Estimated Tax, attach SC2210. . . . . . . . . . . . . . .
19
20. Balance Due (line 13 less line 16 plus line 18 and 19, if applicable)
BALANCE DUE
Pay in full to SC Department of Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20
21. Amount of line 17 to be credited to 2015 Estimated Tax. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21
REFUND
22. Net Refund (subtract line 21 from line 17 and enter the amount to be refunded) . . . . . . . . . . . . . . . . . .
22
I declare that this return and all attachments are true, correct and complete to the best of my knowledge and belief.
Please
Sign
Taxpayer's Email
Signature of fiduciary or officer representing fiduciary
Date
Here
I authorize the Director of the Department of Revenue or delegate to discuss this
Preparer's Printed Name
Yes
No
return, attachments and related tax matters with the preparer.
Date
Preparer's telephone number
Check if
Paid
Preparer's
self-employed
signature
Preparer's
Firm's name (or
PTIN or FEIN
Use Only
yours if self-employed)
ZIP Code
and address
30841027

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