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Arizona Schedule K-1(NR) Nonresident Beneficiary’s Share of Fiduciary Adjustment
Extracted from PDF file 2023-arizona-141az-schedule-k-1-nr.pdf, last modified March 2021Schedule K-1(NR) Nonresident Beneficiary’s Share of Fiduciary Adjustment
Arizona Form 141AZ Schedule K-1 FOR CALENDAR YEAR Resident or Part-Year Resident Beneficiary’s Share of Fiduciary Adjustment 2023 For the calendar year 2023 or fiscal year beginning M M D D 2 0 2 3 and ending M M D D Y Y Y Y . Name of Estate or Trust Estate or Trust EIN (If this is a Grantor Trust, see instructions) Beneficiary’s Name Fiduciary’s Name Beneficiary’s EIN or SSN Fiduciary’s Address - number and street, or rural route Beneficiary’s Address - number and street, or rural route Fiduciary’s City, Town or Post Office Beneficiary’s City, Town or Post Office State Contact’s Daytime Phone Number – include area code ZIP Code Check one: State ZIP Code Fiduciary’s Phone Number – include area code Beneficiary Power of Attorney Other ___________________ Part 1 Beneficiary’s Share of Fiduciary Adjustment 1 Net fiduciary adjustment to be allocated: Enter the amount from Form 141AZ, Schedule C, line C14............ 1 00 2 Percent of beneficiary’s share of federal distributable income from Form 141AZ, Schedule C........................ 2 % 3 Multiply the amount on line 1 by the percent on line 2, and enter the result..................................................... 3 Full-year Resident Individual Beneficiaries: • If you did not elect to file a Small Business Income tax return and the amount on line 3 is a positive number, include this amount on Arizona Form 140, page 1, line 18, Other Additions to Income. If you elected to file a Small Business Income tax return, enter the amount on Form 140-SBI, line 11. • If you did not elect to file a Small Business Income tax return and the amount on line 3 is a negative number, include this amount on Arizona Form 140, page 2, line 36, Other Subtractions from Income. If you elect to file a Small Business Income tax return, enter the amount on Form 140-SBI, line 34. 00 Part-year Resident Individual Beneficiaries: • If you did not elect to file a Small Business Income tax return and the amount on line 3 is a positve number, include that portion of line 3 allocable to estate or trust income taxable by Arizona on Arizona Form 140PY, page 1, line 31, Other Additions to Income. If you elected to file a Small Business Income tax return, enter the amount on Form 140PY-SBI, line 11. If you did not elect to file a Small Business Income tax return and the amount on line 3 is a negative • number, include that portion of line 3 allocable to estate or trust income taxable by Arizona on Arizona Form 140PY, page 2, line 44, Other Subtractions from Income. If you elected to file a Small Business Income tax return, enter the amount on Form 140PY-SBI, line 34. Continued on page 2 ADOR 10585 (23) Name of Estate or Trust (as shown on page 1) EIN (If this is a Grantor Trust, see instructions) Part 2 Net Long-Term Capital Gain Subtraction – Information Schedule INSTRUCTIONS FOR THE FIDUCIARY: Arizona requires individual taxpayers to make certain adjustments to their federal adjusted gross income in order to compute their Arizona taxable income. • Lines 4 and 5: If the beneficiary’s federal 1041 K-1 includes a distributed share of the entity’s net short-term capital gain or net long-term capital gain, complete line 4, column (b); and line 5, columns (b) through (d). • Lines 6 and 7: If this is the final return for the estate or trust and a capital loss carryover amount was distributed to the beneficiary, complete line 6, column (b); and line 7, columns (b) through (d). • Lines 8 and 9: If any of the amounts reported on line 5, columns (c) and (d) include a net long-term gain or (loss) from (1) an investment in an Arizona Qualified Small Business; or (2) the exchange of one kind of legal tender for another kind of legal tender, complete lines 8 and 9, columns (b) through (d). In column (b), enter only the net capital gain or (loss) from all short-term and long-term investments in the Arizona qualified small business and the exchange of legal tender. (a) (b) Item Amount reported on federal Schedule K‑1 4 Total net short-term capital gain or (loss) from Form 141AZ, page 1, line 15b distributed to the beneficiary....... 5 Total net long-term capital gain or (loss) from Form 141AZ, page 1, line 15c distributed to the beneficiary....... 6 Short-term capital loss carryover(s) distributed to the beneficiary upon termination of the estate or trust......................................... 7 Long-term capital loss carryover(s) distributed to the beneficiary upon termination of the estate or trust......................................... 4 00 5 00 6 00 7 00 (a) (b) Item Net Capital Gain or (loss) 8 Net capital gain or (loss) from investment in an Arizona qualified small business............................................................................. 8 9 Net capital gain or (loss) from the exchange of one kind of legal tender for another kind of legal tender........................................ 9 (c) (d) Net long-term capital Net long-term capital gain or (loss) included gain or (loss) included in column (b) from in column (b) from assets acquired before assets acquired after January 1, 2012 December 31, 2011 00 00 00 00 (c) (d) Net long-term capital Net long-term capital gain or (loss) included gain or (loss) included in column (b) from in column (b) from assets acquired before assets acquired after January 1, 2012 December 31, 2011 00 00 00 00 00 00 INSTRUCTIONS FOR THE INDIVIDUAL BENEFICIARY: The beneficiary must complete the Worksheet for Net Long-Term Capital Gain Subtraction for Assets Acquired After December 31, 2011, to determine the allowable subtraction. The worksheet is included in the instructions for the resident and part-year resident income tax return (Arizona Forms 140 and 140PY). Full-year residents: The amounts entered in column (d) on lines 5, 8, and 9 are used to compute the allowable subtraction on the net long-term capital gain worksheet. For more information, see the worksheet instructions for Form 140. • For an amount entered on line 8, column (b); see the instructions for line 25 on Form 140. • For an amount entered on line 9, column (b); see the instructions for lines 18 and 36 on Form 140 or Lines 15 and 36 on Form 140-SBI. Part-year residents: The amounts entered in column (d) on lines 5, 8, and 9 that are included in your Arizona gross income are used to compute the allowable subtraction on the net long-term capital gain worksheet. For more information, see the worksheet instructions for Form 140PY. • For an amount entered on line 8, column (b); see the instructions for line 38 on Form 140PY. • For an amount entered on line 9, column (b); see the instructions for lines 31 and 44 on Form 140PY. INSTRUCTIONS FOR THE FIDUCIARY BENEFICIARY: If the net long-term capital gain or (loss) on line 5, is taxed at the estate or trust level, use the information above to complete the Worksheet for Net Long-Term Capital Gain Subtraction for Assets Acquired After December 31, 2011, included in the instructions of Form 141AZ for the estate or trust. The amounts entered in column (d) on lines 5, 8, and 9 are used to compute the allowable subtraction on the net long-term capital gain worksheet. For more information, see the worksheet instructions for Form 141AZ. • For an amount entered on line 8, column (b); see the instructions for line 14a on Form 141AZ. • For an amount entered on line 9, column (b); see the instructions for lines 12b and 14b on Form 141AZ. ADOR 10585 (23) AZ Form 141AZ Schedule K-1 (2023) Page 2 of 3 Name of Estate or Trust (as shown on page 1) Part 3 10 EIN (If this is a Grantor Trust, see instructions) Individual Beneficiary’s Pro-Rata Share of the Distributed Virtual Currency and Non-Fungible Tokens Fiduciary: Enter the value of virtual currency and non-fungible tokens received at the time of airdrop distributed to the beneficiary.............................,............................................................................ 00 10 Beneficiary: Include this amount on Form 140 page 6, item “S”, or Form 140PY, page 6, item “X(a)”, as an “Other Subtraction from Arizona Gross Income”. Part 4 Individual Beneficiary’s Pro-Rata Share of the Distributed Gas Fees or Non-Fungible Token Basis 11 Fiduciary: Enter the amount allowed as a subtraction for gas fees or non-fungible token basis distributed to the beneficiary................................................................................................................. 00 11 Beneficiary: Include this amount on Form 140, page 6, item “T”, or Form 140PY, page 6, item “X(b)”, as an “Other Subtraction from Arizona Gross Income”. Part 5 Individual Beneficiary’s Pro-Rata Share of the distributed PTE Tax Credit from the Pass-through Entity 12 Amount of Entity-Level Income Tax Credit distributed to the individual beneficiary.............................. 13 Individual Beneficiary’s pro-rata share of the Arizona PTE Taxes paid in 2023 for taxable years 2023 and/or 2022............................................................................................................................................ 12 00 13 00 INSTRUCTIONS FOR THE FIDUCIARY: Line 12 - Enter the pro-rata amount of the Entity-Level Income Tax credit distributed to the estate or trust’s individual beneficiary. Line 13 - Enter the amount of the individual beneficiary’s pro-rata share of the Arizona pass-through entity taxes paid in 2023 for taxable years 2023 and/or 2022. For example: If the pass-through entity K-1 provided to the trust showed a total tax addback of $20,000 and the trust keeps 10% and distributes 45% to each beneficiary, then the amount added back on the trust return would be $2,000 ($20,000 x 10%) and the amount reported to each individual beneficiary on the 141 K-1 would be $9,000 ($20,000 x 45%) to each individual beneficiary. INSTRUCTIONS FOR THE INDIVIDUAL BENEFICIARY: Line 12- Enter the amount of your distributed share of the Entity-Level Income Tax Credit on Form 355, line 3. Full Year Residents: Line 13 - Enter the amount of your pro-rata share of Arizona taxes paid in 2023 for taxable year 2023 (add-back) on Form 140, page 5, item “P” or Form 140-SBI, line 25. Part-Year Residents: Line 13 - Enter the amount of your pro-rata share of Arizona taxes paid in 2023 for taxable year 2023 (add-back) on Form 140PY, page 5, item “N” or Form 140PY-SBI, line 25. Print Form ADOR 10585 (23) AZ Form 141AZ Schedule K-1 (2023) Page 3 of 3
141AZ Schedule K-1 (NR)
More about the Arizona 141AZ Schedule K-1 (NR) Corporate Income Tax Nonresident TY 2023
We last updated the Schedule K-1(NR) Nonresident Beneficiary’s Share of Fiduciary Adjustment in February 2024, so this is the latest version of 141AZ Schedule K-1 (NR), fully updated for tax year 2023. You can download or print current or past-year PDFs of 141AZ Schedule K-1 (NR) directly from TaxFormFinder. You can print other Arizona tax forms here.
Related Arizona Corporate Income Tax Forms:
TaxFormFinder has an additional 95 Arizona income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Arizona 141AZ Schedule K-1 (NR).
| Form Code | Form Name |
|---|---|
| 141AZ Schedule K-1 | Schedule K-1 Resident or Part-Year Resident Beneficiary’s Share of Fiduciary Adjustment |
View all 96 Arizona Income Tax Forms
Form Sources:
Arizona usually releases forms for the current tax year between January and April. We last updated Arizona 141AZ Schedule K-1 (NR) from the Department of Revenue in February 2024.
141AZ Schedule K-1 (NR) is an Arizona Corporate Income Tax form. Many states have separate versions of their tax returns for nonresidents or part-year residents - that is, people who earn taxable income in that state live in a different state, or who live in the state for only a portion of the year. These nonresident returns allow taxpayers to specify which which income is subject to the state's taxes, and which is not.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Arizona 141AZ Schedule K-1 (NR)
We have a total of twelve past-year versions of 141AZ Schedule K-1 (NR) in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2020 141AZ Schedule K-1 (NR)
AZ Form 141AZ Schedule K-1(NR)
2019 141AZ Schedule K-1 (NR)
AZ Form 141AZ Schedule K-1(NR)
2017 141AZ Schedule K-1 (NR)
AZ Form 141AZ Schedule K-1(NR)
2016 141AZ Schedule K-1 (NR)
AZ Form 141AZ Schedule K-1(NR)
2015 141AZ Schedule K-1 (NR)
AZ Form 141AZ Schedule K-1(NR)
2014 141AZ Schedule K-1 (NR)
AZ Form 141AZ Schedule K-1(NR)
2013 141AZ Schedule K-1 (NR)
AZ Form 141AZ Schedule K-1(NR)
2012 141AZ Schedule K-1 (NR)
Arizona Form 141AZ Schedule K-1(NR)
2011 141AZ Schedule K-1 (NR)
Arizona Form 141AZ Schedule K-1(NR)
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