Form 1041 Schedule K-1 - 2005 (Page 4 of 4) in pdf

Schedule K-1 (Form 1041) 2005

Page

income from each trade or business, net rental real estate, or

Code A. The beneficiary treats this amount as a payment of

other rental activity. The rules for applying these limitations to

estimated tax. To figure any underpayment and penalty on

beneficiaries have not yet been issued. For more details, see

Form 2210, Underpayment of Estimated Tax by Individuals,

Pub. 925, Passive Activity and At-Risk Rules.

Estates, and Trusts, treat the amount entered on box 13, code

A as an estimated tax payment made on January 15, 2006.

Box 9—Directly Apportioned Deduction

Note. Form 1041-T, Allocation of Estimated Tax Payments to

The fiduciary must attach a statement showing depreciation,

Beneficiaries, must be timely filed by the fiduciary for the

depletion, and amortization directly apportioned to you, if any,

beneficiary to get the credit for an estimated tax payment.

attributable to each activity reported in boxes 5 through 8.

Code J. Complete Form 8835, Renewable Electricity, Refined

Box 12—Alternative Minimum Tax Items

Coal, and Indian Coal Production Credit, to figure the amount

The information reported in box 12, codes A through I is used

of your credit. The fiduciary must provide a statement showing

to prepare your Form 6251, Alternative Minimum

the amount of credit to enter in Section A, and how much to

Tax—Individuals. Code A, Adjustment for minimum tax

enter in Section B of Form 8835.

purposes, is the total amount reported on Form 6251, line 14.

Code S. If you are required to recapture any credits, the

Codes B through F represent the portion, if any, of the amount

fiduciary will provide a statement with the information you

included in code A.

need to figure your credit recapture.

Codes B through F. If you have an amount in box 12 with

Box 14—Other Information

code B, C, D, E, or F, see the instructions for lines 37, 38, and

39 of Form 6251.

Code F. The amount of farming and fishing income is included

Codes G through I. Include the amount with any of these

in box 6. This income is separately stated to help you

codes on the applicable line of Form 6251.

determine if you are subject to a penalty for underpayment of

estimated tax. Report the amount of gross farming and fishing

Code J. If you pay alternative minimum tax in 2005, the

income on Schedule E (Form 1040), line 42.

amount in box 12, code J will help you figure any minimum tax

credit for 2006. See the 2006 Form 8801, Credit for Prior Year

Code H. If this code is used, the fiduciary will provide you with

Minimum Tax—Individuals, Estates, and Trusts, for more

any additional information you may need to file your return

information.

that is not shown elsewhere on this Schedule K-1.

Box 13—Credits and Credit Recapture

Codes A through R list all the credits that may be allocated to

you as a beneficiary. The corresponding line shows you what

form to use when reporting the amount.

Form 1041 Schedule K-1 - 2005 Page 4

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