Form 541 - California Fiduciary Income Tax Return - 2015 Page 3
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3Schedule B Income Distribution Deduction.
1 Adjusted total income. Enter amount from Side 1, line 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
00
2 Adjusted tax-exempt interest and nontaxable gain from installment sale of small business stock. See instructions. . . . . . . . . . . . . . 2
00
3 Net gain shown on Schedule D (541), line 9, column (a). If net loss, enter -0-. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
00
4 Enter amount from Schedule A, line 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
00
5 Enter capital gain included on Schedule A, line 1c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
00
6 If the amount on Side 1, line 4 is a gain, enter the amount here as a negative number.
If the amount on Side 1, line 4 is a loss, enter the loss as a positive number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
00
7 Distributable net income. Combine line 1 through line 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
00
8 Income for the taxable year determined under the governing instrument (accounting income) . . . . 8
00
9 Income required to be distributed currently (IRC Section 651) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
00
10 Other amounts paid, credited, or otherwise required to be distributed (IRC Section 661) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
00
11 Total distributions. Add line 9 and line 10. If the result is greater than line 8, see federal Form 1041, Schedule B, line 11. . . . . . . . .
instructions to see if you must complete Schedule J (541). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
00
12 Enter the total amount of tax-exempt income included on line 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
00
13 Tentative income distribution deduction. Subtract line 12 from line 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
00
14 Tentative income distribution deduction. Subtract line 2 from line 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
00
15 Income distribution deduction. Enter the smaller of line 13 or line 14 here and on Side 1, line 18 . . . . . . . . . . . . . . . . . . . . . . . . . . 15
00
Schedule G California Source Income and Deduction Apportionment. Complete line 1a through line 1f before Part II.
Part I:
If a trust, enter the number of:
1 a California resident trustees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b Nonresident trustees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
c Total number of trustees (line a plus line b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
d California resident beneficiaries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
e Nonresident beneficiaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
f Total number of beneficiaries (line d plus line e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Part II: Income Allocation. Complete column A through column F. Enter the amounts from lines 1-9, column F, on Form 541, Side 1, lines 1-9.
(A)
(B)
(C)
(D)
(E)
(F)
Apportioned
Remaining
Apportioned
Income
Income
Non-California
Income
Reportable to
California Source
Non-California
# CA Trustees X B
Source Income
# CA Beneficiaries X D
California
Type of Income
Income
Source Income
# Total Trustees
Col. B – Col. C
# Total Beneficiaries
(Col. A+C+E)
1 Interest
2 Dividends
3 Business income
4 Capital gain
5 Rents, royalties, etc.
6 Farm income
7 Ordinary gain
8 Other income
9 Total income
Deduction Allocation. Complete column G and column H. Enter the amounts from lines 10-15b, Column H, on Form 541, Side 1, lines 10-15b.
(G)
(H)
Type of Deduction
Total Deductions
Amounts Allocable To California
10 Interest
11 Taxes
12 Fiduciary fees
13 Charitable deduction
14 Attorney, accountant, and tax return preparer fees
15 a Other deduction not subject to 2% floor
b Allowable misc. itemized deductions subject to 2% floor
16 Total deductions
Form 541
2015 Side 3
C1
3163153
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