Fillable Form Mo-1041 - Fiduciary Income Tax Return

Americans with Disabilities Act (ADA)

Line 2 — Federal Income Tax

The state of Missouri offers a Dual Party Relay Service

Enter amount from Federal Form 1041, Schedule G, Line 3.

(DPRS) for speech or hearing impaired individuals.

This

Line 3 — Other Federal Income Tax

service was implemented in accordance with the Americans

Enter the total of Lines 2a and 5 from Federal Form 1041,

with Disabilities Act (ADA). If you are speech or hearing

Schedule G.

impaired, please call TDD (800) 735-2966 or fax (573)

526-1881.

Line 4 — Total Federal Deductions

Enter total of Line 2 plus Line 3.

Taxpayer Bill of Rights

To obtain a copy of the Taxpayer Bill of Rights you can access

Line 5 — Federal Deduction

our website at

The federal tax deduction is limited to $5,000. If the amount

Information to Complete

on Line 4 is $5,000 or less, enter the amount from Line 4

on Line 5. If the amount on Line 4 exceeds $5,000, enter

$5,000 on Line 5.

Form MO-1041

Line 6 — Capital Gain Exclusion of Sale of Low

Form MO-1041

Income Housing

If during 2014 the taxpayer sold a federally subsidized

(HUD) low income housing project to a nonprofit or

governmental organization, and at least 40 percent of the

Important:

Complete your federal return first. If you are

units are occupied by persons of families having income of

filing a fiscal year return, indicate the beginning and ending

60 percent or less of the median income, the taxpayer may

dates on the line provided near the top of the Missouri

exclude from Missouri tax 25 percent of the capital gain

return. The filing dates on the Missouri return must match

that is taxable at the fiduciary level. However, the buyer

the filing dates on the federal return.

of the property must agree to preserve or increase the

low-income occupancy of the project. To use this exclusion,

Name, Address, Etc.

enter on Line 6 for residents or on Form MO-NRF, Page

Print or type the name of the estate or trust, name and title

2, Part 5, Line 7 for nonresidents, 25 percent of the capital

of the fiduciary, address, and federal identification number

gain reported on your Federal Form 1041. Attach a copy of

in the spaces provided. For estates, also provide the social

your Federal Form 1041, Federal Form 4797 and explanation.

security number of the decedent in the space provided.

Failure to do so will result in the disallowance of the deduction.

Information for Filing

Line 7 — Healthcare Sharing Ministries Deduction

A — Check the appropriate box. This information is located

If the estate or trust made contributions to a qualifying health

on Federal Form 1041, Page 1, Question A.

If the

care sharing ministry, enter the amounts it paid in 2014.

Qualified Disability Trust Box or Pooled Income

Do not include amounts excluded from the federal taxable

Fund Box is marked on the Federal Form 1041, mark

income.

the Complex Trust Box on Form MO-1041.

If the

Bankruptcy Estate Box is marked on Federal Form

Line 8 — Estate or Trust’s Share of the Missouri

1041, attach a copy of Federal Form 1040 and Form

Estate or Trust Adjustment (Subtraction)

MO-1040.

If the taxpayer has negative adjustments to federal taxable

B — If a trust, check the appropriate box.

income, complete Form MO-1041, Parts 1 and 2. Enter the

subtraction amount from Part 2, Column 6, Estate or Trust

C — Check the appropriate box to show if the estate or trust

line; instructions are located on pages 4 and 5.

is a resident or a nonresident.

Line 9 — Total Subtractions

D–I — Check the appropriate box to answer each of the

questions.

Follow the instructions on the form for

Enter total of Line 5, 6, 7, and 8.

your answers.

Line 10 — Estate or Trust’s Share of the Missouri

J — If the estate or trust is a resident and the answers to

Estate or Trust Adjustment (Addition)

questions F through I are “NO”, do not complete the

If the taxpayer has positive adjustments to federal taxable

remainder of the form. Do complete Form MO-NRF,

income, complete Form MO-1041, Parts 1 and 2. Enter the

Parts 1, 2, 4, and 6 for nonresident beneficiaries, if a

addition amount from Part 2, Column 6, Estate or Trust line;

distribution of Missouri source income was made.

instructions are located on pages 4 and 5.

K — If the estate or trust is a nonresident, and has income

Line 11 — Balance

from both Missouri and non-Missouri sources, check

Enter total of Line 1 less Line 9 plus Line 10.

the box, omit Lines 1–12 and complete Form MO-NRF.

Line 12 — Excess Federal Exemption

Line 1 — Federal Taxable Income

The exemption is allowed only if Line 1 is equal to zero and

Enter the total amount of federal taxable income (not less

Line 11 has a positive figure. Enter the excess amount of

than zero) from Federal Form 1041, Line 22.

The line

the personal exemption not used to reduce the federal

numbers for federal taxable income will differ on other

taxable income to zero, after all other deductions are

federal forms. By federal definition, federal taxable income

subtracted. The exemption is not allowed on Final Returns.

Section 143.431,

cannot be less than zero, therefore, per

RSMo,

Line 1 cannot be less than zero.

Form Mo-1041 - Fiduciary Income Tax Return - 2014 Page 5

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