Arizona Form 141az (Schedule K1) - Resident Or Part-Year Resident Beneficiary'S Share Of Fiduciary Adjustment - 2015 Page 3

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2015 Resident or Part-Year Resident
Arizona Schedule
Beneficiary's Share of Fiduciary Adjustment
141AZ K-1
For information or help, call one of the numbers
Do not file this Schedule K-1 with your return. Keep this
listed:
Schedule K-1 with your records. The fiduciary filed a copy of
this form with the department.
Phoenix
(602) 255-3381
From area codes 520 and 928, toll-free
(800) 352-4090
Resident Beneficiary
Tax forms, instructions, and other tax information
Line 3 shows your share of the fiduciary adjustment from the
estate or trust. If the amount on line 3 is a positive number,
If you need tax forms, instructions, and other tax information,
you must report this amount as an addition to income on your
go to the department’s website at
Arizona return. If you are an individual, report this amount as
Income Tax Procedures and Rulings
an Other Addition to income on your Arizona Form 140, line
These instructions may refer to the department’s income tax
16.
procedures and rulings for more information. To view or print
If the amount on line 3 is a negative number, you must report
these, go to our website and click on Legal Research then
this amount as a subtraction from income on your Arizona
click on Procedures or Rulings and select a tax type from the
return. If you are an individual, report this amount as an Other
drop down menu.
Subtraction from income on your Arizona Form 140, line 35.
Publications and Brochures
Part-Year Resident Beneficiary
To view or print the department’s publications and brochures,
If you are a part-year resident individual, report estate or trust
go to our website and click on Publications.
income received while you were an Arizona resident. Also,
report estate or trust income received from Arizona sources
General Instructions for Fiduciary
while you were a nonresident. Report this income on AZ Form
140PY, page 1, line 22 (ARIZONA column). The amount that
Complete Form 141AZ, Schedule K-1, for each resident or
you should report on your AZ Form 140PY, line 22
part-year resident beneficiary.
(FEDERAL column) is the amount from your federal income
File one copy of each Schedule K-1 with Form 141AZ.
tax return.
Provide all beneficiaries with a copy of their Schedule K-1.
If the amount on line 3 is a positive number, enter that portion
Keep a copy for your records.
of line 3 that is allocable to estate or trust income taxable by
Foreign Addresses
Arizona on Arizona Form 140PY, line 30.
If a beneficiary or the fiduciary has a foreign address, enter the
If the amount on line 3 is a negative number, enter that portion
information in the following order: city, province or state, and
of line 3 that is allocable to estate or trust income taxable by
country. Follow the country’s practice for entering the postal
Arizona on Arizona Form 140PY, line 46.
code. Do not abbreviate the country’s name.
Part 2 - Net Long-Term Capital Gain Subtraction
(Information Schedule)
Line-by-Line Instructions
Arizona allows a subtraction from Arizona gross income for a
Part 1 - Beneficiary's Share of Fiduciary
percentage of any net long-term capital gain from assets
Adjustment
acquired after December 31, 2011, and included in the
Instructions for Fiduciary
individual taxpayer’s federal adjusted gross income or the
estate’s or trust’s federal taxable income.
Line 1 -
Instructions for Fiduciary
Enter the net fiduciary adjustment to be allocated to
beneficiaries from Form 141AZ, Schedule C, line C14. If this
Lines 4 through 7 -
is a negative amount, enter the amount in brackets.
If the individual beneficiary’s federal Schedule K-1 (Form
Line 2 -
1041) includes an amount for any net capital gain or (loss),
Enter the percentage of the beneficiary's share of federal
complete lines 4 through 7 as instructed on page 2 of Form
distributable net income from Form 141AZ, Schedule C.
141AZ, Schedule K-1.
Line 3 -
Instructions for Beneficiaries
Multiply line 1 by the percentage on line 2. Enter the result. If
Follow the instructions on page 2 of Form 141AZ, Schedule
the result is a negative number, enter the number in brackets.
K-1.
This is the beneficiary's share of the fiduciary adjustment.
Instructions for Beneficiary
The fiduciary uses Form 141AZ, Schedule K-1, to report to
you your share of the fiduciary adjustment from the estate or
trust.

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