Schedule G-1 - California Tax On Lump-Sum Distributions - 2015 Page 3

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If you make the 5 .5% capital gain election and
Line 9 – If you received a distribution in 2015
Line 11 – Divide the amount shown on federal
you are taking the death benefit exclusion, figure
because of the plan participant’s death that
Form 1099-R, box 8, by the percentage shown
the amount to enter using the Death Benefit
occurred before August 21, 1996, you may
on federal Form 1099-R, box 8 .
Worksheet below .
exclude up to $5,000 of the distribution from
Line 19 and Line 25 – Use the Tax Rate
your gross income . However, if part of the
Death Benefit Worksheet
Schedule below to complete Part III, line 19 or
death benefit exclusion was allowed in Part II,
A. Enter the capital gain amount from
line 25 .
you must reduce the allowable exclusion by
federal Form 1099-R, box 3 . If you
Line 21 – Decimals should be carried to four
the amount on line E of the Death Benefit
elected to include NUA in taxable
places and rounded to three places . Drop
Worksheet on this page .
income, enter the amount from
amounts 4 and under ( .4434 becomes .443) .
line G of the NUA Worksheet in
If the trust for which you are filing shared the
Round amounts 5 and over up to the next
federal Form 4972 instructions . . . . _______
lump-sum distribution with other trusts, it will
number ( .4445 becomes .445) .
B. Enter the taxable amount from
share the exclusion in the same proportion
federal Form 1099-R, box 2a . If you
as it shared the distribution . This exclusion
elected to include NUA in taxable
applies to the beneficiaries or estates of
income, add the amount from
common-law employees, self-employed
federal Form 1099-R, box 6, to the
individuals, and shareholder-employees who
amount from federal Form 1099-R,
owned more than 2% of an S corporation .
box 2a, and enter the total here . . . _______
C. Divide line A by line B and enter
Tax Rate Schedule for Part III, 10-Year Averaging
the result as a decimal . . . . . . . . . . _ ._ _ _ _
D. Enter your share of the death
If the amount on Part III,
Enter on Part III, line 19 or line 25
*
benefit exclusion
. . . . . . . . . . . . . _______
line 18 or line 24 is:
E. Multiply line D by line C . . . . . . . . . _______
of the
F. Subtract line E from line A .
amount
Enter the result here and on
Over – But Not Over –
over–
Schedule G-1, line 6 . . . . . . . . . . . . _______
$
0
$ 3,490
$
0 .00 PLUS
1 .0%
$
0
*
The $5,000 death benefit exclusion for
3,490
6,110
34 .90 PLUS
2 .0%
3,490
employer-provided death benefits applies only
6,110
8,710
87 .30 PLUS
3 .0%
6,110
for decedents who died before August 21,
8,710
11,360
165 .30 PLUS
4 .0%
8,710
1996 . If there are multiple recipients of the
11,360
13,980
271 .30 PLUS
5 .0%
11,360
distribution, allocate the $5,000 maximum death
13,980
16,630
402 .30 PLUS
6 .0%
13,980
benefit exclusion among the recipients in the
16,630
19,220
561 .30 PLUS
7 .0%
16,630
same proportion that they share the distribution .
19,220
21,850
742 .60 PLUS
8 .0%
19,220
Enter the remaining allowable death benefit
21,850
24,460
953 .00 PLUS
9 .0%
21,850
exclusion in Part III, line 9, and see the
24,460
27,090
1,187 .90 PLUS
10 .0%
24,460
instructions for line 9 .
27,090
AND OVER
1,450 .90 PLUS
11 .0%
27,090
Part III
Multiple Recipients of a Lump-Sum Distribution
To figure your tax on the lump-sum distribution
If you file for a trust that shared the distribution with other trusts, figure the tax on the whole
with the 10-year averaging method, complete
lump-sum first . The trusts then share the tax in the same proportion that they shared the
line 8 through line 28 .
distribution .
Line 8 (Multiple recipients of a lump-sum
If you shared a lump-sum distribution from a qualified retirement plan when not all recipients were
distribution see box to the right)
trusts (a percentage will be shown on federal Form 1099-R, box 8 and/or box 9a), figure the tax on
Community property laws do not apply to
your distribution as follows:
figuring tax on the amount you report on line 8 .
Use the table below to determine the amount to enter on Schedule G-1, line 8 .
If you made the 5 .5% capital gain election
(Part II), enter only the ordinary income from
Is Net Unrealized
federal Form 1099-R on this line . To figure this
If in Part II
Appreciation (NUA)
– Computation–
amount, subtract federal Form 1099-R, box 3,
included in your
Use federal Form 1099-R
from federal Form 1099-R, box 2a . Enter the
taxable income?
Amounts
result on line 8 . If you included NUA capital gain
in the 5 .5% capital gain election, then add the
NO
Divide box 2a by the percentage in box 9a .
You did not make
amount from line F of the NUA Worksheet in
the 5 .5% capital gain
Add box 2a and box 6 . Divide the result by
federal Form 4972 instructions to the ordinary
YES
election .
the percentage in box 9a .
income amount computed in this paragraph .
NO
Subtract box 3 from box 2a . Divide the result
If you did not make the 5 .5% capital gain
by the percentage in box 9a .
election and did not elect to include NUA in
You made the
taxable income, enter the amount from federal
5 .5% capital gain
Subtract box 3 from box 2a . Add to line F of the
Form 1099-R, box 2a .
election .
NUA Worksheet on page 3 of federal Form 4972
YES
instructions . Then divide the result by the
If you did not make the 5 .5% capital gain
percentage of distribution shown in box 9a .
election but did elect to include NUA in your
taxable income, add the amount from federal
Line 28 – Complete the following worksheet:
Form 1099-R, box 2a, to the amount from
A. Enter your percentage of distribution from federal Form 1099-R, box 9a . . . . . . . . A ___________
federal Form 1099-R, box 6 . Enter the total on
line 8 . On the dotted line to the left of the entry,
B. Enter the amount from Schedule G-1, line 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B ___________
write “NUA” and the amount of NUA included,
C. Multiply line A by the amount on line B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . C ___________
or include it according to your software’s
D. Enter the amount from Part II, line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . D ___________
instructions .
E. Add line C and line D . Enter the result here and on line 28 . . . . . . . . . . . . . . . . . . . . E ___________
Schedule G-1 Instructions 2015 Page 2

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