Form 1041 U.S. Income Tax Return for Estates and Trusts 2020

Form 1041 U.S. Income Tax Return for Estates and Trusts 2020

Summary: This is an example of Form 1041 (2020), page 1, with items included as described in the text. Additionally, these line items are completed:

"A. Check all that apply: --Decedent's estate" checkbox checked
"B. Number of Schedules K-1 attached (see instructions)"
"Name of estate or trust (if a grantor type trust, see the instructions)" field contains Estate of John R. Smith
"Name and title of fiduciary" field contains Charles R. Smith, Executor
"Number, street, and room or suite number (if a P.O. box, see the instructions)" field contains 6406 Mayflower Street
"City or town, state or province, and ZIP or foreign postal code" field contains Juneville, Maine 00000
"C. Employer identification number" field contains 10-0123456
"D. Date entity created" field contains 04/09/2015
"F. Check applicable boxes: Initial return" checkbox checked
Under"Income"
"1. Interest income" field contains 2,250
"2a Total ordinary dividends" field contains 750
"2b. Qualified dividends allocable to: (1) Beneficiaries" field contains 179"(2) Estate or trust" field contains 571
"8. Other income. List type and amount" line contains IRD Salary and Vacation Pay and field contains 12,000
"9. Total income. Combine lines 1, 2a, and 3 through 8" field contains 15,000
Under "Deductions"
"11. Taxes" field contains 2,250
"14. Attorney, accountant, and return preparer fees" field contains 1,325
"16. Total. Add line 10 through 15c" field contains 3,575
"17. Adjusted total income or (loss). Subtract line 16 from line 9." field contains 11,425
"18. Income distribution deduction (from Schedule B, line 15). Attach Schedules K-1 (Form 1041)" field contains 2,000
"20. Exemption" field contains 600
"21. Add lines 18 through 20" field contains 2,600
Under "Under Tax and Payments"
"22. Taxable income. Subtract line 21 from line 17. If a loss, see instructions" field contains 8,825
"23. Total tax (from Schedule G, line 7)" field contains 1,971
"27. Tax due. If line 25 is smaller than the total of lines 23 and 26, enter amount owed" field contains 1,971
Under"Sign Here"
"Signature of fiduciary or officer representing fiduciary" field contains Charles R. Smith
"Date" field contains 3-24-16