Fillable Form 41 - Oregon Fiduciary Income Tax Return

an Oregon payment, complete and file the federal extension

Line 9a. Enter the amount of Net Long-Term Capital Gains

Form 7004 with the IRS. Keep a copy of your complete fed-

(NLTCG) from Schedule 1, column B, line 25.

eral extension form. Check the “Extension to file” box on

Line 9b. Multiply line 9a by 5 percent to figure the reduced

Form 41, page 1. If we need a copy of your extension, we’ll

tax on the liquidated farm assets.

ask you to provide one.

Line 11. Tax credits. Identify the credit claimed in the space

An extension of time to file your return is not an exten-

provided. The amount claimed cannot be greater than the

sion of time to pay your tax. All tax due must be paid by

tax on line 10. Do not include payments or claim of right

the original due date of the return.

credit on line 11; see line 14.

Credit for income taxes paid to other states

When you file your return

Resident estates and trusts. Generally, you can claim this

• If applicable, check the box on the front of Form 41 indi-

credit if the estate or trust has income that is taxed by both

cating “Extension to file.”

Oregon and another state. An Oregon resident trust that

• Include the amount you paid with Form 41-V, Oregon Fidu-

has income taxed by Arizona, California, Indiana, or Vir-

ciary Tax Payment Voucher, on line 14.

ginia may not claim the credit on the Oregon return. The

Form 41 instructions

credit should be claimed on the nonresident return for that

state. If the trust is a resident of Oregon and also a resident

Simple trusts without capital gains or losses, or estates ter-

of another state, the credit may be claimed on the Oregon

minating in this tax year, must complete Form 41, lines 2, 5a,

return. Attach a copy of the return you filed with the other

and 6 on the front, and lines 22–42 on the back.

state and proof of payment of the tax. No credit is allowed

if the tax has been claimed as a deduction. If a deduction for

If there are no distributions to the beneficiary, begin on line 4.

the other state’s tax was claimed on Form 1041, it must be

Line 5a. Enter the fiduciary adjustment allocable to the

added to income on Oregon Form 41, Schedule 2, line 40. See

beneficiary (ORS 316.287 and OAR 150-316.287). If the

the 2011 individual return instructions for Oregon Form 40,

adjustment is a subtraction, the beneficiary’s share is

line 38, for how to figure the credit.

limited to an amount equal to the distribution of income

Nonresident estates and trusts. Oregon will allow a credit

taxable on the beneficiary’s individual return. A fiduciary

for taxes paid to another state if all of the following condi-

adjustment addition increases the beneficiary’s income.

tions are met:

The beneficiary’s share of the addition is limited as follows:

• The estate or trust is a nonresident of Oregon.

Subtract the taxable portion of the distribution from the total

• The estate or trust is a resident of Arizona, California, Indi-

amount of the distribution. The balance is the beneficiary’s

ana, or Virginia.

share, unless the amount of the addition is smaller.

• The estate or trust has income that is taxed by both Oregon

Any amount of a fiduciary adjustment not allocable to a ben-

and the resident state.

eficiary is an adjustment to the fiduciary’s taxable income.

Other credits. You may be entitled to a tax credit for business

Line 6. A copy of federal Form 1041, Schedule K-1 or an

energy, dependent care assistance, political contributions,

acceptable substitute, for each beneficiary, must be filed

pollution control facilities, or reclaimed plastic. If you have

with Form 41. The total of the income and Oregon fiduciary

questions about credits not listed above, send an e-mail with

adjustment reported on all Schedules K-1 must equal the

your question to: estate.help.dor@state.or.us.

amount entered on line 6. Each beneficiary’s share of the

Line 13. Oregon withholding. Fill in any Oregon withhold-

fiduciary adjustment must either be shown at the bottom

ing supported by Form W-2 and/or Form 1099 and/or Form

of their K-1 on a blank line or on a separate sheet attached

OR-19. Match the federal employer identification number

to the K-1. Mark it “Oregon fiduciary addition (or subtrac-

(FEIN) on the Form W-2, Form 1099, or Form OR-19 with the

tion)” and write in the amount the beneficiary is to report.

FEIN reported on Form 41. Also, match the recipient’s name

Do not break the fiduciary adjustment down into separate

on the Form W-2, Form 1099, or Form OR-19 to the name of

components.

the trust or estate on Form 41. Attach any Form W-2 and/or

Form 1099 and/or Form OR-19 showing Oregon withhold-

Example: An Oregon fiduciary adjustment includes a $3,300

ing to Form 41, page 1.

federal tax subtraction, a $600 U.S. government interest

subtraction, and a $1,300 Oregon tax addition. The amount

If you claim credit for Oregon withholding and don’t

reported to the beneficiary is an Oregon fiduciary adjust-

attach Form W-2, 1099, or Oregon Form OR-19 we will not

ment of <$2,600>.

give you credit for the withholding and will:

If you have a capital gain, which is not distributed to the

• Send you a bill, or

• Reduce your refund, or

beneficiaries, line 2 plus line 5a will not equal line 6. Attach

• Deny your full refund.

a statement to your return and explain there is an undistrib-

uted capital gain on Form 1041, Schedule B, line 6.

Line 14. Payments and claim of right credit. Fill in any pay-

Line 8. Tax. Use the 2011 rate schedule on Form 41, page 2,

ments you made for tax year 2011. Include any payments

to figure the tax.

made with an extension. Also include any claim of right

150-101-041 (Rev. 10-11)

Form 41 - Oregon Fiduciary Income Tax Return - 2011 Page 3

Related Articles

Related forms

Related Categories