Maine Fiduciary Income Tax Return for Resident and Nonresident Estates and Trusts

Fiduciary Income Tax Return for Resident and Nonresident Estates and Trusts
2023 Form 1041ME
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Form 1041ME - Income Tax Return

2023

99

For Resident and Nonresident Estates and Trusts
For calendar year 2023 or tax year beginning in 2023

*2309100*

Tax period

2023

(mm dd yyyy)

to

Amended Return

Estate/Trust/QFT EIN (do not enter / or -)

Name of Estate or Trust (as it appears on federal Form SS-4)

Name and Title of Fiduciary or Trustee

Address of Fiduciary (number and street)

City

State

Type of entity
(check one box):

Simple Trust
Check the boxes that apply:

ZIP Code

Decedent’s estate
(enter decedent’s SSN)

Qualified Funeral
Trust (QFT)

Complex Trust

ESBT (S Portion Only)

Resident estate or trust

Qualified
Disability Trust

Pooled Income

Nonresident estate or trust

Initial return

Bankruptcy estate
(Chapter 7)
Bankruptcy estate
(Chapter 11)
Final return

1. Federal taxable income. (Nonresident estates and trusts, skip to line 3.) ......................................... 1.

.00

2. Fiduciary Adjustment: Resident estates and trusts only. (See instructions.) ................................ 2.

.00

3. Maine taxable income. (Resident estate or trust - line 1 plus or minus line 2.
Nonresident estate or trust - Schedule NR, line 9, column B.) ............................................................. 3.

.00

4. Maine income tax. (From tax table on page 3 of instructions.) ........................................................... 4.

.00

5. Adjustments to tax. (From Schedule A, line 21.) ............................................................................... 5.

.00

6. Adjusted Maine income tax. (Line 4 plus or minus line 5.) ................................................................ 6.

.00

7. Tax payments: a. Maine income tax withheld. (Attach Form W-2, W-2G, 1099-R or 1099ME) .... 7a.

.00

b. 2023 estimated tax payments and 2022 credit carried forward and
extension payments. (Include any real estate withholding tax payments.) .... 7b.

.00

c. Refundable tax credits. (From Schedule A, line 6.) ........................................... 7c.

.00

d. Total payments. (Add lines 7a, 7b and 7c.) ........................................................ 7d.

.00

8. a. If line 6 is greater than line 7d, enter TAX BALANCE DUE. ......................................................... 8a.

.00

b. Enter PENALTY for underpayment of estimated tax (attach Form 2210ME.)
Check here if you checked the box on Form 2210ME, line 17. .......................

.............. 8b.

.00

c. TOTAL AMOUNT DUE. (Add lines 8a and 8b.) Make checks payable to Treasurer, State of Maine. ... 8c.

.00

9. If line 7d is greater than line 6, enter OVERPAYMENT. ...................................................................... 9.

.00

10. Overpayment to be CREDITED
.00 REFUNDED............ 10b.
to next year’s estimated tax......... 10a.
REFUND DEPOSITED DIRECTLY TO YOUR CHECKING ACCOUNT ($20,000 or less). SEE INSTRUCTIONS.
Check this box if this
refund will go to an
account outside the
United States. .............

.00

10c. Routing Number
10d. Checking Account Number
Continue on Form 1041ME, page 2

Form 1041ME, page 2 - Enclose with your Form 1041ME

99

ESTATE/ TRUST EIN
SCHEDULE 1 - Fiduciary Adjustment

*2309101*

(Enter combined amounts for both the beneficiaries and the estate or trust.)
1. ADDITIONS — Income exempt from federal income tax, but taxable by Maine:
a. Income from municipal and state bonds, other than Maine. ............................................................................ 1a.

.00

b. Net operating loss adjustment. (Attach schedule.) ........................................................................................... 1b.

.00

c. Income taxes imposed by Maine or other states. ..............................................................................................1c.

.00

d. Qualified business income deduction add-back. (See instructions.) ................................................................ 1d.

.00

e. Bonus depreciation add-back. (See instructions.) ............................................................................................ 1e.

.00

f. Maine capital investment credit bonus depreciation add-back. (See instructions.) ........................................... 1f.

.00

g. Certain gains on installment sales of real or tangible property - nonresident estates or trusts only.
(See instructions.) ............................................................................................................................................ 1g.

.00

h. Other. (See instructions.) (Attach worksheet(s).).............................................................................................. 1h.

.00

i. Total Additions. (Add lines 1a through 1h.) ........................................................................................................1i.

.00

2. SUBTRACTIONS — Income exempt from Maine income tax, but taxable by federal law:
a. U.S. Government Bond interest included in federal taxable income. .............................................................. 2a.

.00

b. Maine Public Employees Retirement System pick-up contributions paid during 2023 which have
been previously taxed by the state. (See instructions.) .................................................................................... 2b.

.00

c. Bonus depreciation and section 179 recapture. (See instructions.) ..................................................................2c.

.00

d. Medical cannabis business expenses. (See instructions.) ............................................................................. 2d.

.00

Enter your registration number or sales tax number. _________________________
e. Adult use cannabis business expenses. (See instructions.) .......................................................................... 2e.

.00

Enter your registration number or sales tax number. _________________________
f. Contributions to Qualified Tuition Programs - 529 Plans. (Limited to $1,000 per
beneficiary. See instructions.) ........................................................................................................................... 2f.

.00

g. Net operating loss recapture. (See instructions.) ............................................................................................. 2g.

.00

h. Other. (See instructions.) (Attach worksheet(s).) ............................................................................................. 2h.

.00

i. Total Subtractions. (Add lines 2a through 2h.) ...................................................................................................2i.

.00

3. Net Fiduciary Adjustment. (Subtract line 2i from line 1i — see instructions [may be a negative amount].) ........ 3.
All estates or trusts: Multiply line 3 by Schedule 2, line f, column 3.
Resident estates or trusts: Enter on page 1, line 2. Nonresident estates or trusts: Enter on Schedule NR, line 7, column A.
Do you want to allow another person to discuss this return with Maine Revenue Services?
Third
Party
Designee Designee’s name:
Phone no.: (
)

Yes (complete the following).

.00
No.

Personal Identification number:

Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements and to the best of my knowledge and belief they are true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

Signature of fiduciary or officer representing estate or trust

Date signed

Signature of preparer other than fiduciary

Date signed

Print preparer’s name

Preparer’s phone number

Date estate or trust created

Preparer’s SSN or PTIN

If payment is enclosed, mail to: Maine Revenue Services, P.O. Box 1065, Augusta, ME 04332-1065. DO NOT SEND CASH.
If payment is not enclosed, mail to: Maine Revenue Services, P.O. Box 1064, Augusta, ME 04332-1064

Form 1041ME, page 3 - Enclose with your Form 1041ME
ESTATE/ TRUST EIN

SCHEDULE 2 — Allocation of Federal Income and Maine-source Income

1. Name
B = beneficiary
E/T = estate or trust

2. Share of income
(copy from federal return)

3. Percent

4. State of
domicile

5. Social security
number/EIN of
beneficiaries

6. Maine-source income allocated
to nonresident & safe
harbor resident beneficiaries

(a) B-

$

%

$

(b) B-

$

%

$

(c) B-

$

%

$

(d) B-

$

%

$

(e) B-

$

%

$

(f) E/T-

$

%

(g) Total

$

100%

$

Line g, Column 6: If required to complete Schedule NR, enter the amount from Schedule NR, line 4, column B. Complete column 6 for nonresident
and safe harbor resident beneficiaries based on the amount entered on line g, column 6, and also based on the percentages in column 3.

SCHEDULE 3 - Credit for Income Tax Paid to Other Jurisdiction
for Resident Estates or Trusts
A.

Name of other taxing jurisdiction: ______________________________________________________

1.

Maine taxable income from Form 1041ME, line 3 ................................................................................................

2.

Calculate the portion of Maine taxable income sourced to and taxed by the other
jurisdiction entered on line A:

1. ________________________

a. Income sourced to and taxed by other jurisdiction included on Form 1041ME, line 1.
See instructions ................................................................................................................................................ 2a. ________________________
Fiduciary adjustment sourced to and taxed by other jurisdiction on Form 1041ME, Schedule 1.
Include only amounts attributable to income included on line 2a:
b. Additions - Specify ________________________________________________________ ........................ 2b. ________________________
c. Subtractions - Specify ______________________________________________________ ........................ 2c. ________________________
d. Income sourced to and taxed by other jurisdiction included on Form 1041ME, line 3.
Line 2a plus line 2b minus line 2c (if negative, enter zero)............................................................................... 2d. ________________________
3.

4.

Percentage of income taxed by other jurisdiction (divide line 2d by line 1 - if line 2d is
greater than line 1, enter 1.0000) .........................................................................................................................

3. ___ . ____ ____ ____ ____

Limitation of Credit:
a. Multiply Form 1041ME, line 4 by line 3 above .................................................................................................. 4a. ________________________
b. Income taxes paid to other jurisdiction on income shown on line 2d ................................................................. 4b. ________________________
Do not enter the amount withheld on line 4b. See instructions.

5.

Allowable Credit, line 4a or 4b, whichever is less. Enter here and on Form 1041ME, Schedule A, line 7. ........... 5.

_______________________

Special instructions for taxpayers who claim credit for income tax paid to more than one other jurisdiction:
Credit for each jurisdiction must be computed separately. Use a separate Schedule 3 for each jurisdiction. Add the results together and enter total on
Schedule A, line 7.