Federal Accumulation Distribution for Certain Complex Trusts

Accumulation Distribution for Certain Complex Trusts
2023 Schedule J (Form 1041)
SCHEDULE J
(Form 1041)

Accumulation Distribution for Certain Complex Trusts

OMB No. 1545-0092

Attach to Form 1041.
Go to www.irs.gov/Form1041 for instructions and the latest information.

2023

Department of the Treasury
Internal Revenue Service

Employer identification number

Name of trust

Part I

Accumulation Distribution in 2023

Note: See the Form 4970 instructions for certain income that minors may exclude and special rules for multiple trusts.
1

2
3

Other amounts paid, credited, or otherwise required to be distributed for 2023 (from Form 1041,
Schedule B, line 10) . . . . . . . . . . . . . . . . . . . . . . . . . . .

Subtract line 3 from line 2. If zero or less, enter -0-

5

Accumulation distribution for 2023. Subtract line 4 from line 1

Part II

7

Distributable net income (see
the instructions) . . . . .
Distributions (see the
instructions) . . . . . .
Subtract line 7 from line 6

Enter amount from page 2,
line 25 or line 31, as
applicable
. . . . . .
Undistributed net income.
Subtract line 9 from line 8 .

10

Enter
amount
of
prior
accumulation
distributions
thrown back to any of these
years . . . . . . . .

11

12

Subtract line 11 from line 10 .

12

13

Allocate the amount on line 5
to the earliest applicable year
first. Do not allocate an
amount greater than line 12
for the same year. See the
instructions . . . . . .

13

14

Divide line 13 by line 10 and
multiply result by amount on
line 9 . . . . . . . .

14

15

Add lines 13 and 14

15

16

Tax-exempt interest included
on
line
13
(see
the
instructions) . . . . . .

16

Subtract line 16 from line 15 .

17

17

.

.

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.

.

.

.

.

.

.

.

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.

.

.

4

.

.

.

.

.

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.

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.

5

.

.

.

.

Throwback
year ending

Throwback
year ending

Throwback
year ending

Throwback
year ending

Throwback
year ending

7

9

11

.

6

8

10

.

3

Ordinary Income Accumulation Distribution (Enter the applicable throwback years below.)

Note: If the distribution is thrown back to more
than 5 years (starting with the earliest applicable
tax year beginning after 1968), attach additional
schedules. (If the trust was a simple trust, see
Regulations section 1.665(e)-1A(b).)

6

2

Distributable net income for 2023 (from Form 1041, Schedule B, line 7) . . . .
Income required to be distributed currently for 2023 (from Form 1041, Schedule B,
line 9) . . . . . . . . . . . . . . . . . . . . . . . . . .

4

1

8

9

For Paperwork Reduction Act Notice, see the Instructions for Form 1041.

Cat. No. 11382Z

Schedule J (Form 1041) 2023

Page 2
Taxes Imposed on Undistributed Net Income (Enter the applicable throwback years below.) (See the instructions.)

Schedule J (Form 1041) 2023

Part III

Note: If more than 5 throwback years are involved, attach additional schedules. If the trust received an accumulation distribution from
another trust, see Regulations section 1.665(d)-1A.
If the trust elected the alternative tax
on capital gains (repealed for tax years
beginning after 1978), skip lines 18
through 25 and complete lines 26
through 31.
18
19
20
21
22
23

24

Regular tax . . . . . .
Trust’s share of net short-term
gain
. . . . . . . .
Trust’s share of net long-term
gain
. . . . . . . .
Add lines 19 and 20 . . .
Taxable income . . . . .
Enter percent. Divide line 21
by line 22, but do not enter
more than 100% . . . .
Multiply line 18 by the
percentage on line 23 . . .

Throwback
year ending

Throwback
year ending

Throwback
year ending

Throwback
year ending

Throwback
year ending

18
19
20
21
22

23

%

%

%

%

%

%

%

%

%

%

24

25

Tax on undistributed net
income. Subtract line 24 from
line 18. Enter here and on
page 1, line 9 . . . . .
Do not complete lines 26 through 31
unless the trust elected the
alternative tax on long-term capital
gain.
26
27

Tax on income other than
long-term capital gain . . .
Trust’s share of net short-term
gain
. . . . . . . .

28

Trust’s share of taxable
income less section 1202
deduction . . . . . . .

29

Enter percent. Divide line 27
by line 28, but do not enter
more than 100% . . . .
Multiply line 26 by the
percentage on line 29 . . .

30
31

Tax on undistributed net
income. Subtract line 30 from
line 26. Enter here and on
page 1, line 9 . . . . .

Part IV

25

26
27

28

29
30

31

Allocation to Beneficiary

Note: Be sure to complete Form 4970, Tax on Accumulation Distribution of Trusts.
Beneficiary’s name

Identifying number

Beneficiary’s address (number and street including apartment number or P.O. box)

(a)
This
beneficiary’s
share of
line 13

City, state, and ZIP code

32
33
34
35
36
37

Throwback year
. . . . .
Throwback year
. . . . .
Throwback year
. . . . .
Throwback year
. . . . .
Throwback year
. . . . .
Total. Add lines 32 through 36. Enter here
lines of Form 4970 . . . . . . . .

. . .
. . .
. . .
. . .
. . .
and on
. . .

.
.
.
.
.
the
.

. . . .
. . . .
. . . .
. . . .
. . . .
appropriate
. . . .

(b)
This
beneficiary’s
share of
line 14

(c)
This
beneficiary’s
share of
line 16

32
33
34
35
36
37
Schedule J (Form 1041) 2023