An Alaska Native Settlement Trust (ANST) may elect under Internal Revenue Code section 646 to have the special income tax treatment of that section apply to the trust and its beneficiaries. This one-time election is made by filing Form 1041-N and the form is used by the ANST to report its income, deductions, gains, losses, etc., and to compute and pay any income tax. Form 1041-N is also used for the special information reporting requirements that apply to ANSTs.
Reporting Related to IRC Section 965 on 2017 Returns -- 08-MAR-2018
Other Items You May Find Useful
Publication 17, Your Federal Income Tax
Publication 538, Accounting Periods and Methods
Publication 544, Sales and Other Dispositions of Assets
Publication 550, Investment Income and Expenses
Publication 551, Basis of Assets
Publication 947, Practice Before the IRS and Power of Attorney
Comment on Form 1041-N
Use the Comment on Tax Forms and Publications web form to provide feedback on the content of this product. Although we cannot respond individually to each comment, we do appreciate your feedback and will consider all comments submitted.
CAUTION: We cannot respond to tax-related questions submitted using this page. Instead, please see our Tax Law Questions page.