FOR LIVE PROGRAM ONLY Form 1040NR for Foreign Trusts: Income Tax Reporting for Foreign Non-Grantor Trusts WEDNESDAY, JULY 19, 2017, 1:00-2:50 pm Eastern IMPORTANT INFORMATION FOR THE LIVE PROGRAM This program is approved for 2 CPE credit hours. To earn credit you must: Participate in the program on your own computer connection (no sharing) if you need to register additional people, please call customer service at 1-800-926-7926 x10 (or 404-881-1141 x10). Strafford accepts American Express, Visa, MasterCard, Discover. Listen on-line via your computer speakers. Respond to five prompts during the program plus a single verification code. You will have to write down only the final verification code on the attestation form, which will be emailed to registered attendees. To earn full credit, you must remain connected for the entire program. WHO TO CONTACT DURING THE LIVE EVENT For Additional Registrations: -Call Strafford Customer Service 1-800-926-7926 x10 (or 404-881-1141 x10) For Assistance During the Live Program: -On the web, use the chat box at the bottom left of the screen If you get disconnected during the program, you can simply log in using your original instructions and PIN.
Schedule K-1 (Form 1041) Department of the Treasury Internal Revenue Service @16 661113 0Final K-1 0Amended K-1 0MB No. 1545-0092 Beneficiary's Share of Current Year Income, lilmllll Deductions, Credits, and Other Items For calendar year 2016, 1 Interest income 11 Final year deductions or tax year beginning, 2016, and ending, 20 2a Ordinary dividends --- Beneficiary's Share of Income, Deductions, 2b Qualified dividends Credits, etc. See back of form and instructions..::f.ti Information About the Estate or Trust 3 Net short-term capital gain A Estate's or trust's employer identification number 4a Net long-term capital gain FOREIGN TRUST EIN B Estate's or trust's name TRUST NAME 4b 28% rate gain 12 Alternative minimum tax adjustment 4c Unrecaptured section 1250 gain C Fiduciary's name, address, city, state, and ZIP code TRUST OFFICER TRUST COMPANY ADDRESS 5 Other portfolio and nonbusiness income 6 Ordinary business income 7 Net rental real estate income 8 Other rental income 13 Credits and credit recapture 9 Directly apportioned deductions od Check if Form 1041-T was filed and enter the date it was filed 14 Other information ED Check if this is the final Form 1041 for the estate or trust 10 Estate tax deduction l::i:jiiillll F G Information About the Beneficiary Beneficiary's identifying number SSN / ITIN BENFICIARY 2 (NRA) Beneficiary's name, address, city, state, and ZIP code NAME - BENEFICIARY 2 (NRA) ADDRESS *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. H D Domestic beneficiary D Foreign beneficiary For Paperwork Reduction Act Notice, see the Instructions for Form 1041. IRS.gov/form1 041 Cat. No. 11380D Schedule K-1 (Form 1041) 2016
Schedule K-1 (Form 1041) Department of the Treasury Internal Revenue Service @16 661113 0Final K-1 0Amended K-1 0MB No. 1545-0092 Beneficiary's Share of Current Year Income, lilmllll Deductions, Credits, and Other Items For calendar year 2016, 1 Interest income 11 Final year deductions or tax year beginning, 2016, and ending, 20 2a Ordinary dividends --- Beneficiary's Share of Income, Deductions, 2b Qualified dividends Credits, etc. See back of form and instructions..::f.ti Information About the Estate or Trust 3 Net short-term capital gain A Estate's or trust's employer identification number 4a Net long-term capital gain FOREIGN TRUST EIN B Estate's or trust's name TRUST NAME 4b 28% rate gain 12 Alternative minimum tax adjustment 4c Unrecaptured section 1250 gain C Fiduciary's name, address, city, state, and ZIP code TRUST OFFICER TRUST COMPANY ADDRESS 5 Other portfolio and nonbusiness income 6 Ordinary business income 7 Net rental real estate income 8 Other rental income 13 Credits and credit recapture 9 Directly apportioned deductions od Check if Form 1041-T was filed and enter the date it was filed 14 Other information ED Check if this is the final Form 1041 for the estate or trust 10 Estate tax deduction l::i:jiiillll Information About the Beneficiary F Beneficiary's identifying number SSN / ITIN BENFICIARY 1 (US PERSON) G Beneficiary's name, address, city, state, and ZIP code NAME - BENEFICIARY 1 (US PERSON) ADDRESS *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. H D Domestic beneficiary D Foreign beneficiary For Paperwork Reduction Act Notice, see the Instructions for Form 1041. IRS.gov/form1 041 Cat. No. 11380D Schedule K-1 (Form 1041) 2016
Cabal Trust Distribution Deduction (Form 1040NR) & Distributable Net Income (Form 3520) Tax Year 2016 Statement 1 Income: Total Income U.S. Source Foreign Source 2% of AGI Taxable Income DNI Form 3520 DNI Per Beneficiary (50/50) Interest 375,000 125,000 250,000 375,000 310,500 155,250 Dividends-Qualified 150,000 150,000-150,000 124,200 62,100 Dividends-Non Qualified 125,000 125,000.00 125,000 103,500 51,750 Net Rental Income (See Sch E pp1, F1040 attd) 125,000 125,000.00-125,000 103,500 51,750 Partnership Income (See Sch E pp2, F1040 attd) 200,000 200,000.00-200,000 165,600 82,800 Gross Ordinary Income 975,000 600,000 375,000 975,000 807,300 403,650 Capital Gains: Net Short-term Gains - - - - - - Net Long-term Gains 300,000 0-300,000 248,400 124,200 Net Capital Gain 300,000 0 0 300,000 248,400 124,200 Total Gross Income 1,275,000 600,000 375,000 1,275,000 1,055,700 527,850 Expenses: Legal Fees 15,000 15,000 Accounting Fees 25,000 25,000 Investment Interest 125,000 125,000 Trust Administration Fees 75,000 75,000 Foreign Taxes Withheld - - Other Expenses (misc. itemized deductions) - - Misc. Itemized Deduction Limitation Adjustment 20,700 (20,700) Total Expenses 219,300 Taxable Income (Form 1040NR) 1,055,700 Distributions 1,055,700 Distribution Deduction (Form 1040NR) 1,055,700 Taxable Income (Form 1040NR) Zero
CABAL TRUST EIN XX-XXXXX 2016 FORM 1040NR STATEMENT 2 SCHEDULE O OTHER INFORMATION, LINE J THE RETURN IS BEING FILED FOR A TRUST. THE TRUST DOES NOT HAVE ANY U.S. OR FOREIGN OWNERS PURSUANT TO THE GRANTOR TRUST RULES, NO LOANS BUT DISTRIBUTIONS HAVE BEEN MADE TO A U.S. PERSON, AND NO CONTRIBUTIONS HAVE BEEN RECEIVED FROM U.S. PERSONS. U.S. BENEFICIARY WILL BE FILING A FORM 3520 TO REPORT AND DISCLOSE ANY INCOME IN RELATION TO THE DISTRIBUTION RECEIVED.