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Cedar Rapids Iowa online Schedule J (1041 form) 2022: What You Should Know
If the trust or estate is required to pay federal alternative minimum tax, and the information is entered into Form 1041 for the trust or estate at the end of the year, the trustee's report and the report filed by the trustee of the estate of a deceased trust must include the computation of the amount for federal alternative minimum tax. The form of the report and the amount to be reported on the form must be similar to the following: Schedule K-1 for the Estate Tax Return Form CT‑1041 Schedule I — CT.gov The trustee, as the trustee of the estate of a deceased trust or estate, may furnish the information required by section 170(f) or 170(g) to its report. However, if the information is reported on Form CT‑1041, the executor must report on Form 1041 each section 170(f) or 170(g) item from that report that is required to be filed pursuant to this section. A copy of the statement by the trustee must be attached as Schedule K-1, and any required information with respect to the items furnished under section 170(f). If your deceased trust or estate was required to complete Schedule I or Form CT‑1041, the executor of your deceased trust or estate must prepare a separate Schedule M‑1 so that each section 170(f) or 170(g) Item (1) and (3) can be reported on their respective reports. For more information on the computation of federal alternative minimum tax, see Rev. Pro. 2010‑24, 2013‑29 I.R.B. 1010, available at IRS.gov/irb/2010‑24_IRB/ar08.html. Schedule K-1 for the Estate Tax Return. Form CT‑1041 Schedule I — CT.gov Calculation of Fiduciary Accounting Income. The rules and procedures in this section apply to any trust (except a trust created as described in section 7704 or 7706 of the Internal Revenue Code). Form CT‑1041 is to be filed by the trustee. A trust may elect to have a separate Schedule K-1 for the estate tax return, instead of making Schedule K‑1 (Form 1041) and attaching Form CT‑1041 (Form 1041).
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