Form Fid-3 - Montana Income Tax Return For Estates And Trusts - 2013 Page 4

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Form FID-3, Page 4 – 2013

FEIN

Schedule B – Schedule of Deductions/Subtractions

1 Federal income tax deduction ................................................................................................................................................................ 1

2 Exempt interest and mutual fund dividends from federal bonds, notes, and other obligations .............................................................. 2

3 State tax refunds included on Form FID-3, line 8 ................................................................................................................................... 3

4 Other recoveries of amounts deducted in earlier years that did not reduce Montana taxable income ................................................... 4

5 Partial pension and annuity income exemption (see worksheet and instructions) ................................................................................. 5

6 Subtraction for federal taxable U.S. Railroad Retirement Board beneﬁ ts (Tier I and Tier II) .................................................................. 6

7 Expenses allocated to other states’ interest and mutual fund dividends ................................................................................................ 7

8 Other subtractions. List type and amount

_______________________________________________________________

............... 8

9 Total deductions/subtractions (add lines 1 through 8). Enter the total on Form FID-3, line 19 .......................................................... 9

Schedule C – Montana Distributable Net Income (MDNI) and Montana Income Distribution Deduction (MIDD)

1 Montana adjusted total income or (loss) from Form FID-3, line 20. If Montana adjusted total income AND the total from

Form FID-3, line 4 are losses, use the smaller loss (see instructions) ................................................................................................... 1

2a Add: Federal tax exempt income (gross) ...................................................................................................... 2a

2b Less: Expenses allocated to federal tax exempt income .............................................................................. 2b

2c Add: Income from federal obligations that is tax exempt for Montana .......................................................... 2c

2d Less: Expenses allocated to income from federal obligations that are tax exempt for Montana .................. 2d

2e Add: Expenses allocated to non-Montana municipal income taxable to Montana ....................................... 2e

2f Less: Non-Montana municipal income taxable to Montana .......................................................................... 2f

2 Montana adjusted tax exempt interest income ....................................................................................................................................... 2

3a Enter the amount from federal Form 1041, Schedule B, line 3 .................................................................... 3a

3b Enter the amount from federal Form 1041, Schedule B, line 4 .................................................................... 3b

3c Enter the amount from federal Form 1041, Schedule B, line 5 .................................................................... 3c

3 Total net capital gains. Add lines 3a through 3c ..................................................................................................................................... 3

4 If the amount on Form FID-3, line 4 is a gain, enter as a negative number. If the amount on Form FID-3, line 4 is a loss,

enter the loss as a positive number (see instructions) ........................................................................................................................... 4

5 Montana distributable net income. Combine lines 1 through 4. If zero or less, enter zero (see instructions) ........................................ 5

6 If a complex trust, enter the accounting income for the tax year as determined under the governing

instrument .......................................................................................................................................................6

7 Income required to be distributed currently ............................................................................................................................................ 7

8 Other amounts paid, credited or otherwise required to be distributed .................................................................................................... 8

9 Actual total distributions for the year. Add lines 7 and 8 ......................................................................................................................... 9

10 Tax exempt income included in actual distributions included on line 9 ................................................................................................. 10

11 Tentative income distribution deduction based on actual distributions. Subtract line 10 from line 9 .................................................... 11

12 Tentative income distribution deduction. Subtract line 2 from line 5. If zero or less, enter zero ........................................................... 12

13 Montana income distribution deduction. Enter the smaller of line 11 or line 12 and on Form FID-3, line 21. If zero or less,

enter zero ............................................................................................................................................................................................. 13

*13DT0401*