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Fiduciary Income Tax Return IT-41 - Indiana
| Fiduciary Income Tax Return Form. This is a Indiana form and can be used in Fiduciary Department Of Revenue Statewide . |
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State Form 11458 (R8 / 8-12) FORM IT-41 FIDUCIARYINCOMETAXRETURN or fiscal year beginning Address and ending INDIANA DEPARTMENT OF REVENUE For the calendar year ending Name of Estate or Trust Name and Title of Fiduciary City State Zip Code Federal Identification Number Please round entries INCOME AND INDIANA ADDITIONS 1. Taxable Income of Fiduciary from Federal Form 1041or Unrelated Business Taxable Income from Federal Form 990T _____________________________________________________ 2. Indiana Additions or Add-backs, see Line 2 instructions _____________________________ 3. Lump Sum Distribution from Federal Form 4972 __________________________________ 4. Net Operating Loss Deduction from Federal Return ________________________________ 5.TotalIncome (Add Lines 1 through 4) __________________________________________ 6. Interest on U.S. Obligations Reported on Federal Return ___________________________ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 INDIANA DEDUCTIONS 7. Non-Indiana Fiduciary Income ________________________________________________ 8. Indiana Portion of Net Operating Loss Deduction (Attach Schedule IT-40NOL, see instructions) __ 9. State Taxable Income (Line 5 minus Lines 6 through 8) _____________________________ TAX COMPUTATIONS 10. State Adjusted Gross Income Tax (3.4% of Line 9) _________________________________ 11. Additional Tax, see Line 11 instructions _________________________________________ 12.TotalTax (Add Lines 10 and 11) ______________________________________________ 13. Fiduciary Estimated Tax Paid _________________________________________________ 14. Other Credits (You MUST attach verification), see Line 14 instructions _________________ 15.TotalCredits (Add Lines 13 and 14) ___________________________________________ 16.BalanceofTaxDue (If Line 12 is greater than Line 15, enter the difference) ____________ 17.Penalty, see Line 17 instructions_______________________________________________ 18.Interest, see Line 18 instructions ______________________________________________ CREDITS 19.TotalAmountDue (Add Lines 16 through 18) _______________________ PAYMENTDUE 19 20.RefundDue (If Line 15 is greater than Line 12, enter the difference) ___________ REFUND 20 Turnovertothebackforsignatures UU *24212111694* 24212111694 American LegalNet, Inc. www.FormsWorkFlow.com Name of Estate or Trust Federal Identification Number Check Applicable Boxes First Return Final Return Amended Return Fiduciary Name Change Address Change Check Applicable Boxes Retirement Plan Estate Simple Trust Complex Trust Bankruptcy Estate ESBT Trust Grantor Trust Other (Please Specify) Additional Information - Please answer the following questions or provide the requested information 1. Is there a non-resident beneficiary? Yes No 2. How many Schedule K-1s are enclosed with this return? 3. If this is an estate return, enter the date of the decedent's death and Social Security number Decedent's date of death Decedent's Social Security Number 4. If this is a trust return, enter date the entity was created 6. If this is a grantor trust return, enter the grantor's Social Security number 5. Was a final individual return filed for decedent? Yes No IauthorizetheDepartmenttodiscussmyreturnwithmypersonal representative. Yes No Ifyes,completetheinformationbelow. Address City PersonalRepresentative'sName (please print) State Telephone Number Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief it is true, correct, and complete. If prepared by a person other than the taxpayer, this declaration is based upon all information of which the preparer has any knowledge. Zip Code Signature of Fiduciary or Officer Telephone Number Date Signature of Preparer Telephone Number Date Preparer's Address Preparer's Identification Number Mailcompletedreturnwith paymentto: Indiana Department of Revenue Fiduciary Section P.O. Box 6192 Indianapolis, IN 46206-6192 Mailallotherreturnsto: Indiana Department of Revenue Fiduciary Section P.O. Box 6079 Indianapolis, IN 46206-6079 City State Zip Code *24212121694* 24212121694 American LegalNet, Inc. www.FormsWorkFlow.com IT-41 FIDUCIARY INCOME TAX RETURN INSTRUCTIONS PURPOSE OF FORM AND GENERAL INFORMATION This tax return is used by the fiduciary representative to report the income, deductions, gains, losses, etc. of the estate or trust; the income that is either accumulated or held for distribution to beneficiaries; or the income tax liability of the estate or trust. A fiduciary is any person in a position of confidence acting on behalf of any other person. A fiduciary assumes the powers, rights, duties, and privileges of the person or entity on whose behalf he is acting. Examples of fiduciaries include administrators, conservators, designees, executors, guardians, receivers, trustees of a trust, trustees in bankruptcy, personal representatives, persons in possession of property of a decedent's estate, and debtors-inpossession of assets in any bankruptcy proceeding by order of the court. A decedent's estate or a trust (except for a grantor type trust) is a separate legal entity for federal and state tax purposes. A decedent's estate comes into existence at the time of death of an individual. A trust may be created during an individual's life (inter vivos) or at the time of the individual's death under a will (testamentary). If the trust instrument contains certain provisions, then the person creating the trust (the grantor) is treated as the owner of the trust's assets. A decedent's estate or trust figures its gross income in much the same manner as an individual does. Many deductions and credits that are allowed for individuals are also allowed for estates and trusts. An estate or trust may be allowed an income distribution deduction for distributions to beneficiaries (heirs). This deduction is calculated at the federal level and determines the amount of any distributions taxed to the beneficiaries. For this reason, an estate or a trust is sometimes referred to as a "pass-through" entity. The beneficiary, and not the estate or trust, pays income tax on the individual's distributive share of income. Federal Schedule K-1 is used to notify the beneficiaries of the amounts to be included on their individual income tax returns. Most estates and trusts file Form 1041 at the federal level and file
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