Form 541 K 1 – Fill Out and Use This PDF

TAXABLE YEAR

Beneficiary’s Share of Income,

CALIFORNIA SCHEDULE

2020

Deductions, Credits, etc.

K-1 (541)

For calendar year 2020 or fiscal year beginning (mm/dd/yyyy)

, and ending (mm/dd/yyyy)

.

Fiduciaries: Complete a separate Schedule K-1 (541) for each beneficiary.

Beneficiaries: Refer to the instructions for Schedule K-1 (541).

Name of estate or trust

Beneficiary’s SSN/ITIN, California corporation no., California SOS file no., or FEIN

Estate's or trust's FEIN

Beneficiary’s name, address (number and street, suite, Apt., PO box,

Fiduciary’s name, address (number and street, suite, Apt., PO box, or PMB no.),

or PMB no.), City, State, and ZIP code

City, State, and ZIP code. If there is more than one fiduciary or trustee, list all of the

fiduciaries or trustees’ names, addresses, and indicate if fiduciary is a nonresident. If

more space is needed, add an attachment. Include the estate’s or trust’s FEIN at the

top of each separate attachment.

A Beneficiary’s percentage of distribution at year end

. . . . .

. . .

....•. (1) ◻ A final Schedule K-1 (541)

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%

B Check here if this is:

.•. .(1). . .◻. . .Individual

. . . . . . . .

(2) ◻ An amended Schedule K-1 (541)

C What type of entity is this beneficiary? . . . .

(2) ◻ Estate/Trust

(3) ◻ Qualified Exempt Organization (4) ◻ Other

D Is this beneficiary a resident of California?

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.•◻ Yes

▶ ◻ No

E Is the fiduciary a resident of California?

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.•◻ Yes

▶ ◻ No

(a)

(b)

(c)

(d)

(e)

Allocable share item

Amount from

California

Total amounts using

California

federal Schedule

Adjustments

California law

source amounts

K-1 (Form 1041)

Combine col. (b) and col. (c)

and credits

1 Interest . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

•

•

(Loss)

2 Dividends

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

•

•

3 Net capital gain or (loss)

•

•

. . . . . . . . . . . . . . . .

Income

5 Other portfolio and nonbusiness income

•

•

6 Ordinary business income

•

•

. . . . . . . . . . . . . . . .

. . . . .7 Net rental real estate income

. . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . .8 Other rental income

Directly apportioned deduction

c Amortization

. . . . . . . . . . . . . . . .

9 a

Depreciation

. . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . .b Depletion

. . . . . . . . . . . . . . . .

deduction

11 a Excess deduction on termination

(Attach computation)

. . . . . . . . . . . . . . . .

. . . . . . . . .b Capital loss carryover

. . . . . . . . . . . . . . . .

year

c

Net operating loss (NOL) carryover for regular

tax purposes

Final

. . . . . . . . . . . . . . . .

d NOL carryover for alternative minimum

tax purposes

. . . . . . . . . . . . . . . .

Alternativeminimum adjustmenttax

12 a Adjustment for alternative minimum tax purposes . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .e Exclusion items

b

Accelerated depreciation

c

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Depletion

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .d Amortization

13 a Trust payments of estimated tax credited

to beneficiary

. . . . . . . . . . . . . . . .

Credits

b Total withholding (equals amount on Form 592-B,

if calendar year)

. . . . . . . . . . . . . . . .

c

. . . . . . .Taxes paid to other states. Attach Schedule S

. .d Other credits. Attach schedule

. . . . . . . . . . . . . . . .

Other Information

14 a Tax-exempt interest

. . . . . . . . . . . . . . . .

b

Net investment income

c

. . . . . . . . . . . . . . . . . .Gross farm and fishing income

d Other information ___________________________