Schedule K-1 (Form Beneficiary's Share of Income, Deductions, Credits, and

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661117

2023

Schedule K-1
(Form 1041)
Department of the Treasury
Internal Revenue Service
beginning

For calendar year 2023, or tax year

/

/

2023

ending

/

/

Part I

Part III

Amended K-1

OMB No. 1545-0092

Beneficiary’s Share of Current Year Income,
Deductions, Credits, and Other Items
11

1

Interest income

2a

Ordinary dividends

Final year deductions

TREASURY/IRS
AND OMB USE
ONLY DRAFT
July 19, 2023
DO NOT FILE

Beneficiary’s Share of Income, Deductions,
Credits, etc.
See back of form and instructions.
A

Final K-1

Information About the Estate or Trust

2b

Qualified dividends

3

Net short-term capital gain

4a

Net long-term capital gain

4b

28% rate gain

4c

Unrecaptured section 1250 gain

5

Other portfolio and
nonbusiness income

6

Ordinary business income

7

Net rental real estate income

8

Other rental income

9

Directly apportioned deductions

Estate’s or trust’s employer identification number

B

Estate’s or trust’s name

C

Fiduciary’s name, address, city, state, and ZIP code

D

E

12

Alternative minimum tax adjustment

13

Credits and credit recapture

14

Other information

Check if Form 1041-T was filed and enter the date it was filed

Check if this is the final Form 1041 for the estate or trust

Part II

Information About the Beneficiary

F

Beneficiary’s identifying number

G

Beneficiary’s name, address, city, state, and ZIP code

10

Estate tax deduction

H

Domestic beneficiary

Foreign beneficiary

For Paperwork Reduction Act Notice, see the Instructions for Form 1041.

For IRS Use Only

* See attached statement for additional information.
Note: A statement must be attached showing the
beneficiary’s share of income and directly apportioned
deductions from each business, rental real estate, and
other rental activity.

www.irs.gov/Form1041

Cat. No. 11380D

Schedule K-1 (Form 1041) 2023

Page 2

Schedule K-1 (Form 1041) 2023

This list identifies the codes used on Schedule K-1 for beneficiaries and provides summarized reporting information for
beneficiaries who file Form 1040 or 1040-SR. For detailed reporting and filing information, see the Instructions for Schedule
K-1 (Form 1041) for a Beneficiary Filing Form 1040 or 1040-SR and the instructions for your income tax return.
Report on
1. Interest income

Form 1040 or 1040-SR, line 2b

2a. Ordinary dividends

Form 1040 or 1040-SR, line 3b

Code

2b. Qualified dividends

Form 1040 or 1040-SR, line 3a

A Credit for estimated taxes

3. Net short-term capital gain

Schedule D, line 5

B Credit for backup withholding

4a. Net long-term capital gain

Schedule D, line 12

C Low-income housing credit

4b. 28% rate gain

28% Rate Gain Worksheet, line 4
(Schedule D instructions)

D Advanced manufacturing production
credit

4c. Unrecaptured section 1250 gain

Unrecaptured Section 1250 Gain
Worksheet, line 11 (Schedule D
instructions)

F Work opportunity credit

13. Credits and credit recapture

E Reserved for future use

G Credit for small employer health
insurance premiums

5. Other portfolio and nonbusiness
income

Schedule E, line 33, column (f)

6. Ordinary business income

Schedule E, line 33, column (d) or (f)

I Credit for increasing research activities

7. Net rental real estate income

Schedule E, line 33, column (d) or (f)

8. Other rental income

Schedule E, line 33, column (d) or (f)

J Renewable electricity production
credit

H Biofuel producer credit

9. Directly apportioned deductions
Code

}

TREASURY/IRS
AND OMB USE
ONLY DRAFT
July 19, 2023
DO NOT FILE
K Empowerment zone employment credit
L Reserved for future use

A Depreciation

Form 8582; or Schedule E, line
33, column (c) or (e)

B Depletion

Form 8582; or Schedule E, line
33, column (c) or (e)

C Amortization

Form 8582; or Schedule E, line
33, column (c) or (e)

10. Estate tax deduction

C Short-term capital loss carryover

Schedule 1 (Form 1040), line 24k
(also see the beneficiary’s
instructions)

R Recapture of credits

Schedule D, line 12; line 5 of the
wksht. for Sch. D, line 18; and line 16
of the wksht. for Sch. D, line 19
Schedule 1 (Form 1040), line 8a

E Net operating loss carryover —
regular tax

}

12. Alternative minimum tax (AMT) items
A Adjustment for minimum tax purposes
B AMT adjustment attributable to
qualified dividends
C AMT adjustment attributable to
net short-term capital gain
D AMT adjustment attributable to
net long-term capital gain
E AMT adjustment attributable to
unrecaptured section 1250 gain
F AMT adjustment attributable to
28% rate gain
G Accelerated depreciation
H Depletion
I Amortization
J Exclusion items

P Credit to holders of tax credit bonds

ZZ Other credits

14. Other information

Form 6251, line 2f

Form 6251, line 2j

See the beneficiary’s instructions

Form 1040 or 1040-SR, line 2a

B Foreign taxes

Schedule 3 (Form 1040), line 1; or
Schedule A, line 6

C Qualified rehabilitation expenditures

See the beneficiary’s instructions

D Basis of energy property

See the beneficiary’s instructions

E Net investment income

Form 4952, line 4a

F Gross farm and fishing income

Schedule E, line 42

G Foreign trading gross receipts
(Section 942(a))

See the Instructions for
Form 8873

H Adjustment for section 1411 net
investment income or deductions
I Section 199A information
J Qualifying advanced coal project
property and qualifying gasification
project property
K Qualifying advanced energy project
property

See the beneficiary’s
instructions and the
Instructions for Form 6251

Form 1040 or 1040-SR, line 25c

A Tax-exempt interest

Schedule D, line 5

D Long-term capital loss carryover

F Net operating loss carryover —
minimum tax

O Biodiesel and renewable diesel fuels
credit

Q Credit for employer differential wage
payments

B Excess deductions – Non–miscellaneous See the beneficiary’s instructions
itemized deductions

Form 1040 or 1040-SR, line 26

N Credit for employer-provided childcare
facilities and services

Schedule A, line 16

11. Final year deductions

A Excess deductions – Section 67(e)
expenses

M Orphan drug credit

Report on

L Advanced manufacturing investment
property
M Reserved for future use
ZZ Other information

}

Form 8960, line 7 (also see the
beneficiary’s instructions)

See the beneficiary’s instructions

Note: If you are a beneficiary who does not file a Form 1040 or 1040-SR,
see instructions for the type of income tax return you are filing.
2024 Form 8801