Instructions For Arizona Schedule 141az K-1 - 2013

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2013 Resident or Part-Year Resident
Arizona Schedule
Beneficiary's Share of Fiduciary Adjustment
141AZ K-1
Instructions for Beneficiary
Phone Numbers
The fiduciary uses Arizona Form 141AZ, Schedule K-1, to
For information or help, call one of the numbers listed:
report to you your share of the fiduciary adjustment from the
estate or trust.
Phoenix
(602) 255-3381
From area codes 520 and 928, toll-free
(800) 352-4090
Do not file this Schedule K-1 with your return. Keep this
Schedule K-1 with your records. The fiduciary filed a copy
Tax forms, instructions, and other tax information
of this form with the department.
If you need tax forms, instructions, and other tax
information, go to the department’s Internet home page at
Resident Beneficiary
Line 3 shows your share of the fiduciary adjustment from
the estate or trust.
If the amount on line 3 is a positive
Income Tax Procedures and Rulings
number, you must report this amount as an addition to
These instructions may refer to the department’s income tax
income on your Arizona return. If you are an individual,
procedures and rulings for more information. To view or
report this amount as an other addition to income on your
print these, go to our home page and click on Legal
Arizona Form 140, page 2, line B11.
Research then click on Procedures or Rulings and select a
If the amount on line 3 is a negative number, you must
tax type from the drop down menu.
report this amount as a subtraction from income on your
Publications and Brochures
Arizona return. If you are an individual, report this amount
as an other subtraction from income on your Arizona Form
To view or print the department’s publications and
140, page 2, line C29.
brochures, go to our home page and click on Publications.
Part-Year Resident Beneficiary
General Instructions for Fiduciary
If you are a part-year resident individual, report estate or
trust income received while you were an Arizona resident.
Complete an Arizona Form 141AZ, Schedule K-1, for each
Also, report estate or trust income received from Arizona
resident or part-year resident beneficiary.
sources while you were a nonresident. Report this income on
File one copy of each Schedule K-1 with Form 141AZ.
Arizona Form 140PY, page 2, line B14 (ARIZONA
Provide all beneficiaries with a copy of their Schedule K-1.
column).
The amount that you should report on your
Keep a copy for your records.
Arizona Form 140PY, page 2, line B14 (FEDERAL column)
Foreign Addresses
is the amount from your federal income tax return.
If a beneficiary or the fiduciary has a foreign address, enter
If the amount on line 3 is a positive number, enter that
the information in the following order: city, province or
portion of line 3 that is allocable to estate or trust income
state, and country. Follow the country’s practice for entering
taxable by Arizona on Form 140PY, page 2, line C23.
the postal code. Do not abbreviate the country’s name.
If the amount on line 3 is a negative number, enter that
portion of line 3 that is allocable to estate or trust income
Line-by-Line Instructions
taxable by Arizona on Form 140PY, page 2, line D35.
Part I - Beneficiary's Share of Fiduciary
Part II - Net Long-Term Capital Gain Subtraction
Adjustment
(Information Schedule)
Beginning 2013, Arizona allows a subtraction from Arizona
Instructions for Fiduciary
gross income for a percentage of any net long-term capital
Line 1 -
gain from assets acquired after December 31, 2011, and
Enter the net fiduciary adjustment to be allocated to
included in the individual taxpayer’s federal adjusted gross
beneficiaries from Arizona Form 141AZ, Schedule C, line
income or the estate’s or trust’s federal taxable income.
C14. If this is a negative amount, enter the amount in
Instructions for Fiduciary
brackets.
Lines 4 through 7
Line 2 -
If the individual beneficiary’s federal Schedule K-1 (Form
Enter the percentage of the beneficiary's share of federal
distributable net income from Arizona Form 141AZ,
1041) includes an amount for any net capital gain or (loss),
Schedule C.
complete lines 4 through 7 as instructed on Arizona Form
141AZ, Schedule K-1.
Line 3 -
Instructions for Beneficiaries
Multiply line 1 by the percentage on line 2. Enter the result.
If the result is a negative number, enter the number in
Follow the instructions on Arizona Form 141AZ, Schedule
brackets. This is the beneficiary's share of the fiduciary
K-1.
adjustment.

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