Instructions For Form Pa-41 - Schedule Rk-1 - Resident Schedule Of Shareholder/partner/beneficiary Pass Through Income, Loss And Credits - 2012 Page 3
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3PA-41 Schedule RK-1, Line 6 to the
● An estate or trust is in existence
Step 1
during only part of the tax year. For
total distribution as reported on PA-41,
Calculate the Total Dollar
Fiduciary Income Tax Return, Line 8.
example, the trust or estate is in its
Amount
If a beneficiary who is an individual
initial or final year.
Calculate the total dollar amount of:
and part-year resident or an entity
●
Cash and property distributions
beneficiary, calculate and enter the
See “How to File a Short-Year
actually made to the beneficiaries
percentage as if a resident taxpayer.
Return” in the PA-41, Fiduciary Income
during the taxable year; and
Tax Return instructions.
●
Undistributed amounts that are
Valid values are: “00000” to “10000”,
credited, payable or required to be
Line Instructions
where 10000 = 100%
currently distributed to the beneficiary
rd
Decimal point is implied after 3
during the taxable year.
character from the left
Part II
e.g. to indicate 33.33%, the value
DO NOT TAKE INTO ACCOUNT
should be “03333”
Shareholder/Partner/
●
Amounts properly paid out of corpus
e.g. to indicate 25%, the values
Beneficiary Distributive
as a gift or bequest of a specific
should be “02500”
Share of Pennsylvania-
amount of money;
●
Amounts that were required to have
Source Income (Loss)
Owner
been distributed in any prior taxable
year; or
Fill in the oval that designates what
Lines 1 through 5
●
The market value of property
type of beneficiary received the PA-41
Do not enter any amounts on Lines 1
distributed in kind as a gift or bequest
RK-1. Fill in one oval only.
through 5 and Lines 7 through 20.
of specific property.
Do not report the income of
Entity
Step 2
beneficiaries of estates and
Fill in the estate or trust oval only.
Calculate Beneficiary Income
trusts on any lines of PA-41
Schedule RK-1 except Line 6.
for the RK-1
Fiscal Year
To calculate the beneficiary’s income
Lines 6
of/from estates or trusts (Line 6) for
If the estate or trust does not file on a
calendar-year basis, fill in the oval.
entry on a PA-41 Schedule RK-1,
Follow Steps 1 and 2 below to calculate
multiply the amount calculated in Step
Enter month, day and year
the amount of each beneficiary’s
(MMDDYY) when the fiscal year begins
1 by a fraction, calculated as follows:
income on PA-41 Schedule RK-1, Line
●
and ends.
The numerator is the lesser of Line
6.
3a or Line 14a on PA-41 Schedule DD.
Short Year
●
The denominator is Line 13a of PA-41
Lines 7 through 20
A short year is an accounting period
Schedule DD. Multiply this amount by
Do not enter any amounts on Lines 7
shorter than one year (and not a 52-53
the beneficiary’s year-end distribution
through 20.
percentage.
week taxable year).
A short-year return is required for
●
Enter the amount on the PA-41
the following reasons:
Schedule RK-1, Line 6.
● Changes in the annual accounting
period. For example, the estate or trust
changes from a fiscal to a calendar
filer; or
Instructions for PA-41 Schedule RK-1
- 3 -
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