2015 Instructions for Form 1041 and Schedules A, B, G, J ...

1 2015 Department of the Treasury Internal Revenue Service Instructions for form 1041 . and Schedules A, B, G, J, and K-1. Income Tax Return for Estates and Trusts Section references are to the Internal Revenue Contents Page trust with modified adjusted gross Code unless otherwise noted. income above $258,250 loses part of Net Investment Income Tax .. 32. Contents Page the exemption deduction. See the Other Information .. 33. What's New .. 1 Schedule J ( form 1041 ) Instructions for Line 20 Exemption, Reminders .. 1 Accumulation Distribution for later, for more details. Photographs of Missing Children .. 2 Certain Complex Trusts .. 34. Consistent basis reporting between Unresolved Tax Issues .. 2 Schedule K-1 ( form 1041 ) . Beneficiary's Share of estate and person acquiring proper- How To Get Forms and Publications .. 2 Income, Deductions, Credits, ty from a decedent.

2 Section 2004 of General Instructions .. 2 etc.. 36 Public Law 114-41, Surface Purpose of form .. 2 Index .. 42 Transportation and Veterans Health Income Taxation of Trusts and Care Choice Improvement Act of 2015, Decedents' Estates .. 3 Future Developments has two new major requirements. Abusive Trust Arrangements .. 3 For the latest information about 1. An estate (or other person). Definitions .. 3 developments related to form 1041 and required to file an estate tax return after Who Must File .. 4 Schedules A, B, G, J, K-1 and its July 31, 2015, must provide a statement Electronic Filing .. 7 Instructions , such as legislation enacted that includes the estate tax value of When To File .. 8 after they were published, go to property reported on the return to both Period Covered .. 8 the IRS and any beneficiary who Who Must Sign .. 8 receives property from the estate.

3 Accounting Methods .. 9 What's New 2. If the property increases the Accounting Periods .. 9 Due date of return. For tax year 2015, estate tax liability, the beneficiary must Rounding Off to Whole Dollars .. 9 the traditional April 15th due date for use a basis consistent with the estate Estimated Tax .. 9 filing tax returns is extended to April 18, tax value of the property to determine Interest and Penalties .. 10 2016, because the Emancipation Day his or her gain or loss when the property Other Forms That May Be holiday is observed in the District of is sold or deemed sold. Required .. 10 Columbia on Friday April 15. The April Additional Information .. 12 Notice 2015-57, 2015-36 294, 18th due date applies even if you don't available at Assembly and Attachments .. 12 live in the District of Columbia. 2015-36_ , delayed the Special Reporting Instructions .

4 12. The due date for filing tax returns is due date for the reporting requirements Specific Instructions .. 16. extended to April 19, 2016, for residents in (1) above until February 29, 2016. Name of Estate or Trust .. 16. of Maine and Massachusetts because Guidance and other information Name and Title of Fiduciary .. 16. of the Patriots' Day holiday in these necessary to fulfill the new requirements Address .. 16 states. are being developed. If you believe the A. Type of Entity .. 17 new requirements impact this estate, B. Number of Schedules K-1 Capital gains and qualified divi- dends. For tax year 2015, the 20% trust, or its beneficiaries, please see Attached .. 17. maximum capital gains rate applies to C. Employer Identification Number .. 17 estates and trusts with income above D. Date Entity Created .. 18 $12,300. The 0% and 15% rates Reminders E.

5 Nonexempt Charitable and continue to apply to certain threshold Review a copy of the will or trust Split-Interest Trusts .. 18 amounts. The 0% rate applies to instrument, including any amendments F. Initial Return, Amended Return, amounts up to $2,500. The 15% rate or codicils, before preparing an estate's etc.. 18 applies to amounts over $2,500 and up or trust's return. G. Section 645 Election .. 19 to $12,300. We encourage you to use form Income .. 19 1041 -V, Payment Voucher, to Deductions .. 20 Bankruptcy estate filing threshold. accompany your payment of a balance Limitations on Deductions .. 21 For tax year 2015, the requirement to of tax due on form 1041 , particularly if Tax and Payments .. 25 file a return for a bankruptcy estate your payment is made by check or Schedule A Charitable applies only if gross income is at least money order. Deduction.

6 27 $10,300. Schedule B Income Distribution form 1041 E-filing. When e-filing Qualified disability trust. For tax year form 1041 use either form 8453-FE, Deduction .. 28 2015, a qualified disability trust can Schedule G Tax Computation .. 30 Estate or Trust Declaration for an claim an exemption of up to $4,000. A. Jan 08, 2016 Cat. No. 11372D. IRS e-File Return, or form 8879-F, IRS Until the IRS issues such regulations, A description of the hardship the e-file Signature Authorization for form only individuals must file form 8938. estate or trust is facing and supporting 1041 . documentation (if applicable). Note. form 8879-F can only be Photographs of Missing You can contact a Taxpayer associated with a single form 1041 . Children Advocate as follows: form 8879-F can no longer be used The Internal Revenue Service is a proud Call the Taxpayer Advocate's toll-free with multiple Forms 1041 .

7 Partner with the National Center for number: 1-877-777-4778. For more information about e-filing Missing and Exploited Children. Call, write, or fax the Taxpayer returns through MeF, see Publication Photographs of missing children Advocate office in its area (see Pub. 4164, Modernization e-File (MeF) Guide selected by the Center may appear in 1546, Taxpayer Advocate Service, Your for Software Developers and Instructions on pages that would Voice At The IRS, for addresses and Transmitters. otherwise be blank. You can help bring phone numbers). these children home by looking at the TTY/TDD help is available by calling Net investment income tax. This tax photographs and calling 1-800-829-4059. applies to certain investment income of 1-800-THE-LOST (1-800-843-5678) if Visit the website at estates and trusts. Use form 8960 and you recognize a child. advocate.

8 Its Instructions to figure your net investment income tax. See Net Investment Income Tax, later, for more Unresolved Tax Issues How To Get Forms and information. If you have attempted to deal with an Publications IRS problem unsuccessfully, you should Section 67(e) regulations. Final contact the Taxpayer Advocate Service Internet. You can access the regulations under section 67(e) have (TAS). The Taxpayer Advocate IRS website 24 hours a day, 7. been issued, clarifying which costs, independently represents the estate's or days a week, at to: such as investment advisory and trust's interests and concerns within the Download forms, including talking tax bundled fiduciary fees, incurred by IRS by protecting its rights and resolving forms, Instructions , and publications;. estates and nongrantor trusts are and problems that have not been fixed Order IRS products.

9 Are not exempt from the 2% floor for through normal channels. Use the online Internal Revenue miscellaneous itemized deductions. The Code, regulations, and other official regulations are available at While Taxpayer Advocates can't guidance;. irb/2014-22_ , amended at change the tax law or make a technical Research your tax questions;. 32_IRB/ tax decision, they can clear up problems Search publications by topic or that resulted from previous contacts and keyword;. Item A. Type of Entity. On page 1 of ensure that the estate's or trust's case is given a complete and impartial review. Apply for an Employer Identification form 1041 , Item A, taxpayers should Number (EIN); and select more than one box, when The estate's or trust's assigned Sign up to receive local and national appropriate, to reflect the type of entity. personal advocate will listen to its point tax news by email.

10 Item F. Net operating loss (NOL) car- of view and will work with the estate or ryback. If an amended return is filed for trust to address its concerns. The estate Walk-in. You can also get most an NOL carryback, check the box in or trust can expect the advocate to forms and publications at your Item F Net operating loss carryback. provide: local IRS office. See Amended Return, later, for An impartial and independent look at complete information. your problem, Timely acknowledgment, General Instructions Item G. Section 645 election. If the The name and phone number of the estate has made a section 645 election individual assigned to its case, Purpose of form the executor must check Item G and The fiduciary of a domestic decedent's provide the taxpayer identification Updates on progress, Timeframes for action, estate, trust, or bankruptcy estate uses number (TIN) of the electing trust with form 1041 to report: the highest total asset value in the box Speedy resolution, and Courteous service.