California Schedule G-1 - Tax On Lump-Sum Distributions - 2013 Page 3
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3Death Benefit Worksheet
Line 9 – If you received a distribution in 2013
Line 11 – Divide the amount shown on federal
A. Enter the capital gain amount from
because of the plan participant’s death that
Form 1099-R, box 8, by the percentage shown
federal Form 1099-R, box 3 . If you
occurred before August 21, 1996, you may
on federal Form 1099-R, box 8 .
elected to include NUA in taxable
exclude up to $5,000 of the distribution from
Line 19 and Line 25 – Use the Tax Rate
income, enter the amount from
your gross income . However, if part of the
Schedule below to complete Part III, line 19 or
line G of the NUA Worksheet in
death benefit exclusion was allowed in Part II,
line 25 .
federal Form 4972 instructions . . . . . _______
you must reduce the allowable exclusion by
Line 21 – Decimals should be carried to four
B. Enter the taxable amount from
the amount on line E of the Death Benefit
places and rounded to three places . Drop
federal Form 1099-R, box 2a . If you
Worksheet on this page .
elected to include NUA in taxable
amounts 4 and under ( .4434 becomes .443) .
If the trust for which you are filing shared the
income, add the amount from
Round amounts 5 and over up to the next
lump-sum distribution with other trusts, it will
federal Form 1099-R, box 6, to the
number ( .4445 becomes .445) .
share the exclusion in the same proportion
amount from federal Form 1099-R,
as it shared the distribution . This exclusion
box 2a, and enter the total here . . . . _______
applies to the beneficiaries or estates of
C. Divide line A by line B and enter
the result as a decimal . . . . . . . . . . . . _ _ _ _
common-law employees, self-employed
D. Enter your share of the death
individuals, and shareholder-employees who
*
benefit exclusion
. . . . . . . . . . . . . . _______
owned more than 2% of an S corporation .
E. Multiply line D by line C . . . . . . . . . . _______
F. Subtract line E from line A .
Tax Rate Schedule for Part III, 10-Year Averaging
Enter the result here and on
If the amount on Part III,
Enter on Part III, line 19 or line 25
Schedule G-1, line 6 . . . . . . . . . . . . . _______
line 18 or line 24 is:
*
The $5,000 death benefit exclusion for
of the
employer-provided death benefits applies only
amount
for decedents who died before August 21,
Over – But Not Over –
over–
1996 . If there are multiple recipients of the
distribution, allocate the $5,000 maximum death
$
0
$ 3,490
$
0 .00 PLUS
1 .0%
$
0
benefit exclusion among the recipients in the
3,490
6,110
34 .90 PLUS
2 .0%
3,490
same proportion that they share the distribution .
6,110
8,710
87 .30 PLUS
3 .0%
6,110
8,710
11,360
165 .30 PLUS
4 .0%
8,710
Enter the remaining allowable death benefit
11,360
13,980
271 .30 PLUS
5 .0%
11,360
exclusion in Part III, line 9, and see the
13,980
16,630
402 .30 PLUS
6 .0%
13,980
instructions for line 9 .
16,630
19,220
561 .30 PLUS
7 .0%
16,630
Part III
19,220
21,850
742 .60 PLUS
8 .0%
19,220
To figure your tax on the lump-sum distribution
21,850
24,460
953 .00 PLUS
9 .0%
21,850
with the 10-year averaging method, complete
24,460
27,090
1,187 .90 PLUS
10 .0%
24,460
line 8 through line 28 .
27,090
AND OVER
1,450 .90 PLUS
11 .0%
27,090
Enter the result of the 10-year averaging
Multiple Recipients of a Lump-Sum Distribution
from line 28, on Form 540, line 34; Long
If you shared a lump-sum distribution from a qualified retirement plan when not all recipients were
Form 540NR, line 41; or Form 541, line 21b .
trusts (a percentage will be shown on federal Form 1099-R, box 8 and/or box 9a), figure the tax on
Line 8 (Multiple recipients of a lump-sum
your distribution as follows:
distribution see box to the right)
Use the table below to determine the amount to enter on Schedule G-1, line 8 .
Community property laws do not apply to
figuring tax on the amount you report on line 8 .
Is Net Unrealized
If you made the capital gain election, enter only
If in Part II
Appreciation (NUA)
– Computation–
the ordinary income from federal Form 1099-R
included in your
Use federal Form 1099-R
on this line . To figure this amount, subtract
taxable income?
Amounts
federal Form 1099-R, box 3, from federal
NO
Divide box 2a by the percentage in box 9a .
Form 1099-R, box 2a . Enter the result on line 8 .
You did not make
the capital gain
If you included NUA in taxable income, then add
Add box 2a and box 6 . Divide the result by
YES
election .
the amount from line F of the NUA Worksheet in
the percentage in box 9a .
federal Form 4972 instructions to the ordinary
NO
Subtract box 3 from box 2a . Divide the result
income amount computed previously .
by the percentage in box 9a .
You made the
If you did not make the capital gain election
capital gain
Subtract box 3 from box 2a . Add to line F of the
(Part II) and did not elect to include NUA in
election .
NUA Worksheet on page 3 of federal Form 4972
taxable income, enter the amount from federal
YES
instructions . Then divide the result by the
Form 1099-R, box 2a .
percentage of distribution shown in box 9a .
If you did not make the capital gain election
Line 28 – Complete the following worksheet:
but did elect to include NUA in your taxable
income, add the amount from federal
A. Enter your percentage of distribution from federal Form 1099-R, box 9a . . . . . . . . A ___________
Form 1099-R, box 2a, to the amount from
B. Enter the amount from Schedule G-1, line 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B ___________
federal Form 1099-R, box 6 . Enter the total on
C. Multiply line A by the amount on line B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . C ___________
line 8 . On the dotted line to the left of the entry,
write “NUA” and the amount of NUA included,
D. Enter the amount from Part II, line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . D ___________
or include it according to your software’s
E. Add line C and line D . Enter the result here and on line 28 . . . . . . . . . . . . . . . . . . . . E ___________
instructions .
Schedule G-1 Instructions 2013 Page 2
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