Form 741 - Kentucky Fiduciary Income Tax Return

Form 741 (2015)

Page 2

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SCHEDULE A—CHARITABLE DEDUCTION (Do not complete for a simple trust or pooled income fund.)

Complete Schedule A only if you made additions to or subtractions from total income on page 1, lines 2 or 6 and claimed a charitable

deduction on federal Form 1041.

1. Kentucky taxable income that was paid or set aside for charitable purposes and was not reported on federal

Form 1041, Schedule A, including additional capital gains. Enter here and include on Schedule M, line 7 .... 1

2. Kentucky tax-exempt income that was paid or set aside for charitable purposes that was reported on

federal Form 1041, Schedule A. Enter here and include on Schedule M, line 3 .................................................. 2

SCHEDULE B—INCOME DISTRIBUTION DEDUCTION (See federal instructions.)

1. Adjusted total income (enter amount from page 1, line 9) .................................................................................. 1

2. Adjusted tax-exempt interest .................................................................................................................................. 2

3. Net gain shown on Schedule D, Form 741, column 1, line 19 (if net loss, enter zero) ....................................... 3

4. Enter amount included from federal Schedule A, line 4 ...................................................................................... 4

5. Enter net capital gains included on Kentucky Schedule A, line 1 or line 2 .......................................................... 5

6. Enter any Kentucky gains included on page 1, line 9 as a negative figure. If capital loss, enter as a

positive figure. (Kentucky gain/loss includes federal figures plus Kentucky adjustments.) .............................. 6

7. Distributable net income (combine lines 1 through 6) ......................................................................................... 7

8. If complex trust, enter accounting income for tax years as determined under the governing

instrument and applicable law ................................................................................................................................ 8

9. Amount of income required to be distributed currently ....................................................................................... 9

10. Other amounts paid, credited or otherwise required to be distributed .............................................................. 10

11. Total distributions (add lines 9 and 10) (If greater than line 8, see federal instructions.) ...................................11

12. Enter the amount of tax-exempt income included on line 11 ............................................................................... 12

13. Tentative income distribution deduction (subtract line 12 from line 11) ............................................................. 13

14. Tentative income distribution deduction (subtract line 2 from line 7) ................................................................. 14

15. Income distribution deduction (enter the smaller of line 13 or line 14 here and on page 1, line 10) ............... 15

SCHEDULE M (FORM 741)

Part I—Additions to Federal Adjusted Total Income

1. Enter interest from bonds issued by other states and their political subdivisions ............................................ 1

2. Enter additions from partnerships, fiduciaries and S corporations (attach schedule) ....................................... 2

3. Other additions (attach schedule) ........................................................................................................................... 3

4. Total additions. Enter here and on page 1, line 2 .................................................................................................. 4

Part II—Subtractions from Federal Adjusted Total Income

5. Enter interest from U.S. government obligations (attach schedule) .................................................................... 5

6. Enter subtractions from partnerships, fiduciaries and S corporations (attach schedule) .................................. 6

7. Other subtractions (attach schedule) ...................................................................................................................... 7

8. Total subtractions. Enter here and on page 1, line 6 ............................................................................................. 8

If a federal audit changed the taxable income as originally

ADDITIONAL INFORMATION REQUIRED

reported for any prior year, a copy of the Revenue Agent’s

Was a Kentucky fiduciary income tax return filed for 2014?

Report must be submitted to the Department of Revenue.

 Yes  No. If "No," state reason.

Do not attach to this return.

During the taxable year did you make an accumulation

distribution as defined in Sec. 665(b), Internal Revenue

Code?  Yes  No. If "Yes," attach federal Schedule J

(Form 1041).

If the fiduciary has income not taxed by Kentucky, have you