Form Fid-3 - Montana Income Tax Return For Estates And Trusts - 2013 Page 6

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Form FID-3, Page 6 – 2013

FEIN

Schedule E – Capital Gains Tax Credit Calculation

1 Enter the capital gain or (loss) from Form FID-3, line 4 .............................................................................................................1

2 Enter the net capital gains reported on federal Form 1041, Schedule D, Part III, line 15 column (1) Beneﬁ ciaries ..................2

3 Subtract line 2 from line 1. Net capital gains eligible for the credit ............................................................................................3

4 Multiply line 3 by 2% (.02). Allowable capital gains tax credit. Enter on Form FID-3, line 27 ...............................................4

Schedule F – Nonresident/Resident Part-Year Estate and Trust Tax

Total income

Montana source income

included in column A

1 Interest income .......................................................................................................................1

2 Ordinary dividends. .................................................................................................................2

3 Business income or (loss) ......................................................................................................3

4 Capital gain or (loss) ...............................................................................................................4

5 Rental real estate, royalties, partnerships, S corporations, other estates and trusts, etc .......5

6 Farm income or (loss) .............................................................................................................6

7 Ordinary gain or (loss) ............................................................................................................7

8 Other income ..........................................................................................................................8

9 Interest and mutual fund dividends from other states’ state, county or municipal bonds .......9

10 Dividends not included in total federal income .....................................................................10

11 Taxable federal refund .......................................................................................................... 11

Other recoveries of amounts deducted in earlier years that reduced Montana taxable

income ..................................................................................................................................12

13 Other additions .....................................................................................................................13

14 Add lines 1 through 13 and enter the result here. Column B is the estate or trust’s

Montana source income. ...................................................................................................14

15 Divide the amount in column B, line 14 above by the amount in column A, line 14 above and enter result here. Round to 6

decimal places and do not enter more than 1.000000 ............................................................................................................15

16 Enter the resident tax after capital gains tax credit reported on Form FID-3, line 28 ..............................................................16

17 Multiply the tax on line 16 by the percentage on line 15 and enter here and on Form FID-3, line 28a. Estate or trust

nonresident/resident part-year tax after capital gains tax credit. .....................................................................................17

Schedule F applies to nonresident and resident part-year estates and trusts only. The ﬁ duciary will use this schedule to compute the ratio of Montana source

income to total income. This ratio is then multiplied by the resident tax from FID-3, line 28 to determine the nonresident or resident part-year tax to be

reported on FID-3, line 28a.

Column A – Enter on lines 1 through 13 the total income from Form FID-3, lines 1 through 8 and Schedule A.

Column B – Enter on lines 1 through 13 the Montana source income from Form FID-3, lines 1 through 8 and Schedule A.

How does a nonresident estate or trust determine its Montana source income?

For further information and a line-by-line description of Montana source income, refer to Form FID-3, Schedule F instructions beginning on page 12.

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