Form 1041 U.S. Income Tax Return for Estates and Trusts

Form

1041
▶

Department of the Treasury—Internal Revenue Service

U.S. Income Tax Return for Estates and Trusts

2016

OMB No. 1545-0092

Information about Form 1041 and its separate instructions is at www.irs.gov/form1041.
For calendar year 2016 or fiscal year beginning
, 2016, and ending

A Check all that apply:
Decedent’s estate

, 20

Name of estate or trust (If a grantor type trust, see the instructions.)

C Employer identification number

Name and title of fiduciary

D Date entity created

Number, street, and room or suite no. (If a P.O. box, see the instructions.)

E Nonexempt charitable and splitinterest trusts, check applicable
box(es), see instructions.

City or town, state or province, country, and ZIP or foreign postal code

if not a private foundation

Simple trust
Complex trust
Qualified disability trust
ESBT (S portion only)
Grantor type trust
Bankruptcy estate-Ch. 7
Bankruptcy estate-Ch. 11
Pooled income fund
B Number of Schedules K-1
attached (see
instructions) ▶

Described in sec. 4947(a)(1). Check here

F Check

applicable
boxes:

Initial return

Final return

Amended return

Net operating loss carryback

Change in fiduciary

Change in fiduciary's name

Change in fiduciary's address

.

Trust TIN ▶

Income
Deductions
Tax and Payments

Other payments: f Form 2439

.

.

. ▶

; g Form 4136

.
.

1
2a

.
.
.
.
.

3
4
5
6
7
8
9
10
11
12
13
14
15a
15b
15c
16

▶

.
.
.
.
.
.
.
.
▶

.
.
▶

.
.
.
.
.
.
.

; Total ▶

Total payments. Add lines 24c through 24e, and 24h . . . . . . . . . . . . . ▶
Estimated tax penalty. See instructions . . . . . . . . . . . . . . . . . . .
Tax due. If line 25 is smaller than the total of lines 23 and 26, enter amount owed . . . . .
Overpayment. If line 25 is larger than the total of lines 23 and 26, enter amount overpaid . .
Amount of line 28 to be: a Credited to 2017 estimated tax ▶
; b Refunded ▶

.▶

18
19
20
21
22
23
24a
24b
24c
24d
24e
24h
25
26
27
28
29

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. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
▲

Sign
Here

.

Interest income . . . . . . . . . . . . . . . . . . . . . . . . . .
Total ordinary dividends . . . . . . . . . . . . . . . . . . . . . . .
Qualified dividends allocable to: (1) Beneficiaries
(2) Estate or trust
Business income or (loss). Attach Schedule C or C-EZ (Form 1040) . . . . . . . .
Capital gain or (loss). Attach Schedule D (Form 1041) . . . . . . . . . . . . .
Rents, royalties, partnerships, other estates and trusts, etc. Attach Schedule E (Form 1040)
Farm income or (loss). Attach Schedule F (Form 1040) . . . . . . . . . . . . .
Ordinary gain or (loss). Attach Form 4797 . . . . . . . . . . . . . . . . .
Other income. List type and amount
Total income. Combine lines 1, 2a, and 3 through 8 . . . . . . . . . . . . .
. . . . . . . . . . . . . .
Interest. Check if Form 4952 is attached ▶
Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Fiduciary fees . . . . . . . . . . . . . . . . . . . . . . . . . .
Charitable deduction (from Schedule A, line 7) . . . . . . . . . . . . . . .
Attorney, accountant, and return preparer fees . . . . . . . . . . . . . . .
Other deductions not subject to the 2% floor (attach schedule) . . . . . . . . . .
Net operating loss deduction. See instructions . . . . . . . . . . . . . . .
Allowable miscellaneous itemized deductions subject to the 2% floor . . . . . . . .
Add lines 10 through 15c . . . . . . . . . . . . . . . . . . . . . .
Adjusted total income or (loss). Subtract line 16 from line 9 . . .
17
Income distribution deduction (from Schedule B, line 15). Attach Schedules K-1 (Form 1041)
Estate tax deduction including certain generation-skipping taxes (attach computation) . .
Exemption . . . . . . . . . . . . . . . . . . . . . . . . . . .
Add lines 18 through 20 . . . . . . . . . . . . . . . . . . . . . . .
Taxable income. Subtract line 21 from line 17. If a loss, see instructions . . . . . . .
Total tax (from Schedule G, line 7) . . . . . . . . . . . . . . . . . . .
Payments: a 2016 estimated tax payments and amount applied from 2015 return
. . .
Estimated tax payments allocated to beneficiaries (from Form 1041-T) . . . . . . .
Subtract line 24b from line 24a . . . . . . . . . . . . . . . . . . . .
Tax paid with Form 7004. See instructions . . . . . . . . . . . . . . . . .
. . . . . . .
Federal income tax withheld. If any is from Form(s) 1099, check ▶

25
26
27
28
29

.

Change in trust's name

G Check here if the estate or filing trust made a section 645 election .

1
2a
b
3
4
5
6
7
8
9
10
11
12
13
14
15a
b
c
16
17
18
19
20
21
22
23
24
b
c
d
e

.

Described in sec. 4947(a)(2)

May the IRS discuss this return
with the preparer shown below
(see instr.)?
Yes
No

▶
Signature of fiduciary or officer representing fiduciary

Paid
Preparer
Use Only

Print/Type preparer's name

Date

Preparer's signature

EIN of fiduciary if a financial institution
Date

Check
if
self-employed

Firm's name

▶

Firm's EIN

Firm's address

▶

Phone no.

For Paperwork Reduction Act Notice, see the separate instructions.

Cat. No. 11370H

PTIN

▶

Form 1041 (2016)

Page 2

Form 1041 (2016)

Schedule A
1
2
3
4
5
6
7

Amounts paid or permanently set aside for charitable purposes from gross income. See instructions
Tax-exempt income allocable to charitable contributions. See instructions . . . . . . . .
Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . .
Capital gains for the tax year allocated to corpus and paid or permanently set aside for charitable purposes
Add lines 3 and 4 . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1202 exclusion allocable to capital gains paid or permanently set aside for charitable purposes. See instructions .
Charitable deduction. Subtract line 6 from line 5. Enter here and on page 1, line 13 . . . . .

Schedule B
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

2a
b
c
d
e
3
4
5
6
7

1
2
3
4
5
6
7

Income Distribution Deduction
.
.
.
.
.
.
.

1
2
3
4
5
6
7

.
.
.
.
.
.

9
10
11
12
13
14
15

▶

1d

Adjusted total income. See instructions . . . . . . . . . . . . . . . . . . .
Adjusted tax-exempt interest . . . . . . . . . . . . . . . . . . . . . .
Total net gain from Schedule D (Form 1041), line 19, column (1). See instructions . . . . .
Enter amount from Schedule A, line 4 (minus any allocable section 1202 exclusion) . . . .
Capital gains for the tax year included on Schedule A, line 1. See instructions . . . . . .
Enter any gain from page 1, line 4, as a negative number. If page 1, line 4, is a loss, enter the loss as a positive number
Distributable net income. Combine lines 1 through 6. If zero or less, enter -0- . . . . . .
If a complex trust, enter accounting income for the tax year as
determined under the governing instrument and applicable local law .
8
Income required to be distributed currently . . . . . . . . . . . . . . . . . .
Other amounts paid, credited, or otherwise required to be distributed . . . . . . . . .
Total distributions. Add lines 9 and 10. If greater than line 8, see instructions
. . . . . .
Enter the amount of tax-exempt income included on line 11 . . . . . . . . . . . .
Tentative income distribution deduction. Subtract line 12 from line 11 . . . . . . . . .
Tentative income distribution deduction. Subtract line 2 from line 7. If zero or less, enter -0- .
Income distribution deduction. Enter the smaller of line 13 or line 14 here and on page 1, line 18

Schedule G
1

Charitable Deduction. Don't complete for a simple trust or a pooled income fund.

Tax Computation (see instructions)

Tax: a Tax on taxable income. See instructions . . . . . . .
b Tax on lump-sum distributions. Attach Form 4972 . . . .
c Alternative minimum tax (from Schedule I (Form 1041), line 56)
d Total. Add lines 1a through 1c . . . . . . . . . .
Foreign tax credit. Attach Form 1116 . . . . . . . . . . .
General business credit. Attach Form 3800 . . . . . . . . .
Credit for prior year minimum tax. Attach Form 8801 . . . . .
Bond credits. Attach Form 8912 . . . . . . . . . . . .
Total credits. Add lines 2a through 2d . . . . . . . . . .
Subtract line 2e from line 1d. If zero or less, enter -0- . . . . .
Net investment income tax from Form 8960, line 21 . . . . . .
Recapture taxes. Check if from:
Form 4255
Form 8611 .
Household employment taxes. Attach Schedule H (Form 1040) . .
Total tax. Add lines 3 through 6. Enter here and on page 1, line 23 .

.
.
.
.
.
.
.
.
.
.
.

.

.
.
.
.
.
.

1a
1b
1c
.
2a
2b
2c
2d
.
.
.
.
.
.

.

.

.

.

.

.

.
.
.
.
.
.

.
.
.
.
.
.

.
.
.
.
.
.

.
.
.
.
.
.

.
.
.
.
.
.

.
.
.
.
.
.

▶

.
.
.
.
▶

2e
3
4
5
6
7

Yes No

Other Information
1
2
3

4
5
6
7
8
9
10

Did the estate or trust receive tax-exempt income? If “Yes,” attach a computation of the allocation of expenses.
Enter the amount of tax-exempt interest income and exempt-interest dividends ▶ $
Did the estate or trust receive all or any part of the earnings (salary, wages, and other compensation) of any
individual by reason of a contract assignment or similar arrangement? . . . . . . . . . . . . . . .
At any time during calendar year 2016, did the estate or trust have an interest in or a signature or other authority
over a bank, securities, or other financial account in a foreign country? . . . . . . . . . . . . . .
See the instructions for exceptions and filing requirements for FinCEN Form 114. If “Yes,” enter the name of the
foreign country ▶
During the tax year, did the estate or trust receive a distribution from, or was it the grantor of, or transferor to, a
foreign trust? If “Yes,” the estate or trust may have to file Form 3520. See instructions . . . . . . . . .
Did the estate or trust receive, or pay, any qualified residence interest on seller-provided financing? If “Yes,” see
the instructions for required attachment . . . . . . . . . . . . . . . . . . . . . . . . .
If this is an estate or a complex trust making the section 663(b) election, check here. See instructions . . ▶
To make a section 643(e)(3) election, attach Schedule D (Form 1041), and check here. See instructions . . ▶
If the decedent’s estate has been open for more than 2 years, attach an explanation for the delay in closing the estate, and check here ▶
Are any present or future trust beneficiaries skip persons? See instructions . . . . . . . . . . . . .
Was the trust a specified domestic entity required to file Form 8938 for the tax year (see the Instructions for
Form 8938)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Form 1041 (2016)