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New Jersey Free Printable 2023 New Jersey Income Tax Fiduciary Return, Form NJ-1041 for 2024 New Jersey Fiduciary Return Form

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Fiduciary Return Form
2023 New Jersey Income Tax Fiduciary Return, Form NJ-1041

New Jersey Income Tax Fiduciary Return NJ-1041 2023 5-F For Tax Year January 1, 2023 – December 31, 2023, Or Other Tax Year Beginning Check this box , 2023, Ending 20 if application for federal extension is enclosed or enter confirmation number Check box if this is an amended return Federal Employer Identification Number Name of Estate or Trust Name and Title of Fiduciary You must enter your FEIN above For Privacy Act Notification, see instructions Address of Fiduciary (Number and Street or Rural Route) City, Town, Post Office State ZIP Code RESIDENCY STATUS: (check only one box) 1. Resident Estate – Date of decedent’s death 2. 3. Resident Trust – Date trust created Nonresident Estate – Date of decedent’s death and state ` 4. Nonresident Trust – Date trust created and state Change of Address 5. If estate was closed or trust terminated, check box GUBERNATORIAL ELECTIONS FUND Note: Do you want to designate $1 of your taxes for this fund? Type of Trust } Name of State and state the date YES NO Note: If you check the “yes” box, it will not increase the tax or reduce the refund. Nonresident estates and trusts, see instructions. ....................................................... 6. ................................................... 7. 8. Net profits from business (Schedule NJ-BUS-1, Part I, line 4)............................................................................ 8. 9. Net gains or income from disposition of property (From Schedule A, line 46)................................................... 9. 6. Interest..............................Tax-Exempt Interest 7. Dividends........................... Tax-Exempt Dividends 10. Net gains or income from rents, royalties, patents, and copyrights (Schedule NJ-BUS-1, Part II, line 4)........... 10. 11. Distributive Share of Partnership Income (Schedule NJ-BUS-1, Part III, line 4) (Enclose Schedule NJK-1)..... 11. 12. Net pro rata share of S Corporation Income (Schedule NJ-BUS-1, Part IV, line 4) (Enclose Schedule NJ-K-1) 12. 13. Other Income – State Nature ............................ 13. 14. Gross Income (Add lines 6 through 13) If $10,000 or less, see instructions...................................................... 14. 15. Income from everywhere distributed to beneficiaries (From Schedule B, line 48A)........................................... 15. 16. Total Income (Subtract line 15 from line 14)....................................................................................................... 16. 16a. Nonresidents: NJ Income from Schedule E, line 11............... 16a. 17. Commissions paid or accrued by executor or trustee (related to income reported on line 14)..................................................................... 17. 18. Exemption – Enter $1,000 (Part-year taxpayers, see instructions)......... 18. 19. Health Enterprise Zone Deduction.......................................................... 19. 20. Alternative Business Calculation Adjustment (Schedule NJ-BUS-2, line 11).................................................................. 20. 21. NJBEST Deduction.................................................................................. 21. 22. Total deductions and exemption (Add lines 17 through 21).............................................................................. 22. 23. Taxable Income (Subtract line 22 from line 16)................................................................................................. 23. NJ-1041 2023 Page 2 Name of Estate or Trust Federal Employer Identification Number Name and Title of Fiduciary 24. Taxable Income (From Page 1, line 23)............................................................................................................ NONRESIDENTS ONLY: 25. 25. Tax on amount on line 24 (From Tax Table) (Line 16a) = % 26. Income Percentage (Line 16) 27. Tax Residents: Enter amount or check box if not subject to tax and enclose statement. (See instructions) Nonresidents: (Multiply amount from line 25 x % from line 26)................................ 28. Credit for income or wage taxes paid by New Jersey estates or trusts to other jurisdictions (From Schedule C, line 53)..................................... 28. 29. Balance of Tax (Subtract line 28 from line 27)......................................... 24. 27. 29. 30. Sheltered Workshop Tax Credit................................................................ 30. 31. Balance of Tax after Credit (Subtract line 30 from line 29)................................................................................ 32. Interest on Underpayment of Estimated Tax (See instructions) Check box if Form NJ-2210 is enclosed..................................................................................................... 31. 32. 33. Total Tax Due (Add lines 31 and 32).................................................................................................................. 33. 34. New Jersey Income Tax previously paid........................................................................................................... 34. 36c. 37. Total New Jersey Income Tax Withheld (From enclosed withholding statements. See instructions)................ 37. 38. Total payments and credits (Add lines 34, 35c, 36c, and 37)............................................................................ 38. 39. Balance of Tax Due (If line 38 is less than line 33, subtract line 38 from line 33).............................................. 39. 40. Overpayment (If line 38 is more than line 33, subtract line 33 from line 38)..................................................... 40. 41. Credit to 2024 Tax............................................................................................................................................. 41. 42. Refund (Subtract line 41 from line 40)............................................................................................................... 42. SIGN HERE 35a. Tax paid on your behalf by Partnership(s) (See instructions)................... 35a. 35b. Tax paid on your behalf by Partnership(s) and Distributed (From Schedule B, line 48C).................................................................... 35b. 35c. Balance of tax paid on your behalf by Partnership(s) (Subtract line 35b from line 35a)....................................................................................................................... 36a. Pass-Through Business Alternative Income Tax Credit (See instructions)..................................................................................... 36a. 36b. Pass-Through Business Alternative Income Tax Credit Distributed (From Schedule B, line 48D).................................................................... 36b. 36c. Balance of Pass-Through Business Alternative Income Tax Credit (Subtract line 36b from line 36a)....................................................................................................................... 35c. Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. If prepared by a person other than taxpayer, this declaration is based on all information of which the preparer has any knowledge. Pay amount on line 39 in full. Write FEIN on check or money order and make payable to: Signature of Fiduciary or Officer Representing Fiduciary State of New Jersey – TGI Division of Taxation Revenue Processing Center PO Box 888 Trenton, NJ 08646-0888 Date I authorize the Division of Taxation to discuss my return and enclosures with my preparer (below) Signature of Preparer Other than Fiduciary (If NJ-1040-0 is enclosed, check box) Firm Name Division Use 1 Federal Identification Number Firm’s Federal Employer Identification Number 2 3 4 5 6 7 You can also make a payment on our website: nj.gov/taxation NJ-1041 2023 Page 3 Federal Employer Identification Number Name of Estate or Trust Net Gains or Income From Disposition of Property Schedule A (a) (b) Kind of property and description Date acquired (Mo., day, yr.) Name and Title of Fiduciary List the net gains or income, less net loss, derived from the sale, exchange, or other disposition of property including real or personal whether tangible or intangible as reported on federal Schedule D. (c) Date sold (Mo., day, yr.) (d) Gross sales price (e) Cost or other basis as adjusted (see instructions) and expense of sale (f) Gain or (loss) (d minus e) 43. 44. Capital Gains Distributions................................................................................................................................. 44. 45. Other Net Gains.................................................................................................................................................. 45. 46. Net Gains (Add lines 43, 44, and 45) (Enter here and on line 9) (If loss, enter zero)......................................... 46. Schedule B Beneficiaries’ Shares of Income Enclose New Jersey Schedule NJK-1 Distributions Name and Address of Each Beneficiary Indicate Residency Status Social Security Number Column A Total Income Column C Tax Paid by Partnerships Column B NJ Source Income Column D Pass-Through Business Alternative Income Tax Credit 47. 48. Total Schedule C 49. (Enter amount from line 48A on line 15) (Enter amount from line 48B on Schedule E, line 10) (Enter amount from line 48C on line 35b) (Enter amount from line 48D on line 36b) 48A. Credit For Income or Wage Taxes Paid To Other Jurisdiction 48B. 48C. A copy of other state or political subdivision tax return must be retained with your records. Income properly taxed by both New Jersey and other jurisdiction during tax year. See instructions. (Indicate jurisdiction name )............................................ (Do not combine the same income taxed by more than one jurisdiction.) Amount on line 49 cannot exceed amount on line 50. 49. 50. Income Subject to Tax by New Jersey. (From line 16)............................................................................. 50. 51. Maximum Allowable Credit (Divide line 49 by line 50) 51. 52. Income tax paid to other jurisdiction......................................................................................................... 52. 53. Credit Allowed. (Enter lesser of line 51 or line 52 here and on line 28).................................................... 53. Schedule D (49) (50) x Allocation of Business Income to New Jersey 48D. (New Jersey Tax from line 27) = See instructions if other than Formula Basis of allocation is used. Enclose Form NJ-NR-A with Form NJ-1041. Business Allocation Percentage (From Form NJ-NR-A) Enter below the line number and amount of each item of business income reported on Form NJ-1041 that is required to be allocated and multiply by allocation percentage to determine amount of income from New Jersey sources. From Line No. $ x %=$ From Line No. $ x %=$ 2023 Schedule E (Form NJ-1041) New Jersey Gross Income Tax New Jersey Income of Nonresident Estates and Trusts All nonresident estates and trusts must complete this schedule and file it with the New Jersey Income Tax Fiduciary Return (Form NJ-1041) Enter name, address, and federal employer identification number as shown on Form NJ-1041 Name of Estate or Trust Federal Employer Identification Number Name and Title of Fiduciary Address of Fiduciary (Number and Street or Rural Route) City, Town, Post Office Income From New Jersey Sources: State For the Tax Year Ended (Month, Day, Year) ZIP Code Net losses in one category cannot be applied against income in another. In case of a net loss in any category, enter “zero” for that category. New Jersey Income 1. Interest.............................................................................................................................................. 1. 2. Dividends.......................................................................................................................................... 2. 3. Net profits from business.................................................................................................................. 3. 4. Net gains or income from disposition of property.............................................................................. 4. 5. Net gains or income from rents, royalties, patents, and copyrights.................................................. 5. 6. Distributive share of partnership income........................................................................................... 6. 7. Net pro rata share of S corporation income...................................................................................... 7. 8. Other Income – State Nature ........... 8. 9. Total Income From New Jersey Sources (Add lines 1 through 8)................................................. 9. 10. New Jersey source income distributed to beneficiaries (From Schedule B, line 48B)...................... 10. 11. New Jersey income (Subtract line 10 from line 9) Enter here and on line 16a................................. 11. Name of Estate or Trust as shown on Form NJ-1041 Name and Title of Fiduciary Federal Employer Identification Number Schedule NJ-BUS-1 Part New Jersey Gross Income Tax 2023 (Form NJ-1041) Business Income Summary Schedule List the net profit (loss) from business(es). See Instructions. I Net Profits From Business Social Security Number/ Federal EIN Business Name Profit or (Loss) 1. 2. 3. 4. Net Profit or (Loss). (Add lines 1, 2, and 3.) (Enter here and on line 8, NJ-1041. If loss, enter zero on line 8.) Part Net Gains or Income II From Rents, Royalties, Patents, and Copyrights 4. List the net gains or net income, less net loss, derived from or in the form of rents, royalties, patents, and copyrights. See instructions. Type of Property: 1–Rental real estate 2–Royalties 3–Patents 4–Copyrights Source of Income or Loss. If rental real estate, enter physical address of property. Type – Enter number from list above Social Security Number/ Federal EIN Income or (Loss) 1. 2. 3. 4. Net Income or (Loss). (Add lines 1, 2, and 3.) (Enter here and on line 10, NJ-1041. If loss, enter zero on line 10.) Part III Distributive Share of Partnership Income Partnership Name Federal EIN 4. List the distributive share of income (loss) from partnership(s). See instructions. Share of Partnership Income or (Loss) Share of tax paid on your behalf by Partnerships Share of PassThrough Business Alternative Income Tax 1. 2. 3. 4. Distributive Share of Partnership Income or (Loss). (Add lines 1, 2, and 3.) (Enter here and on line 11, NJ-1041. If loss, enter zero on line 11.) 5. Total Share of tax paid on your behalf by Partnerships (Add lines 1, 2, and 3.) Enter total here and include on line 35a. 6. Total Share of Pass-Through Business Alternative Income Tax (Add lines 1, 2, and 3.) (Enter here and include on line 36a, NJ-1041.) Part IV Net Pro Rata Share of S Corporation Income S Corporation Name List the pro rata share of income (usable loss) from S corporation(s). See instructions. Pro Rata Share of S Corporation Income or (Usable Loss) Federal EIN 1. 2. 3. 4. Net Pro Rata Share of S Corporation Income or (Usable Loss). (Add lines 1, 2, and 3.) (Enter here and on line 12, NJ-1041. If loss, make no entry on line 12.) 5. Total Share of Pass-Through Business Alternative Income Tax (Add lines 1, 2, and 3.) (Enter here and include on line 36a, NJ-1041) 5. 4. Keep a copy of this schedule for your records Share of Pass-Through Business Alternative Income Tax Name of Estate or Trust as shown on Form NJ-1041 Schedule NJ-BUS-2 Federal Employer Identification Number New Jersey Gross Income Tax Alternative Business Calculation Adjustment (Form NJ-1041) Part I Name and Title of Fiduciary Income (Loss) Column A Column B Reportable Regular Business Income Alternative Business Income/(Loss) 1. Net Profits From Business 1a. 1b. 2. Net Gain or Income From Rents, Royalties, Patents, and Copyrights 2a. 2b. 3. Distributive Share of Partnership Income 3a. 3b. 4. Net Pro Rata Share of S Corporation Income 4a. 4b. 5. Loss Carryforward From Tax Year 2022 5b. 6. Totals Part II 2023 6a. ( ) ( ) 6b. Adjustment Calculation 7. Total Regular Business Income 7. 8. Total Alternative Business Income/(Loss). (If loss, enter zero) 8. 9. Business Increment (Subtract line 8 from line 7) 9. 10. Adjustment Percentage 10. 11. Alternative Business Calculation Adjustment (line 9 x 0.50) 11. 0.50 Part III Loss Carryforward to Tax Year 2024 12. Loss Carryforward to Tax Year 2024 Line 1a. Line 1b. Line 2a. Line 2b. Line 3a. Line 3b. Line 4a. Line 4b. Line 5b. Line 6a. Line 6b. Line 7. Line 8. Line 9. Line 10. Line 11. Line 12. 12. Instructions Enter the amount from line 8, Form NJ-1041. Enter the amount from Part I, line 4, Schedule NJ-BUS-1 (Form NJ-1041). Enter the amount from line 10, Form NJ-1041. Enter the amount from Part II, line 4, Schedule NJ-BUS-1 (Form NJ-1041). Enter the amount from line 11, Form NJ-1041. Enter the amount from Part III, line 4, Schedule NJ-BUS-1 (Form NJ-1041). Enter the amount from line 12, Form NJ-1041. Enter the amount from Part IV, line 4, Schedule NJ-BUS-1 (Form NJ-1041). Enter the amount from line 12 of your 2022 Schedule NJ-BUS-2 (Form NJ-1041). Enter the total of lines 1a through 4a. Enter the total of lines 1b through 5b, netting gains with losses. Enter the amount from line 6a of this schedule. Enter the amount from line 6b of this schedule. If loss, enter zero here. Subtract line 8 from line 7. If the result is zero, also enter zero on line 11 and on line 20 of Form NJ-1041, and continue with line 12. The adjustment percentage for Tax Year 2023 is 50% (0.50). Multiply the amount on line 9 by 50% (0.50). Enter here and on line 20 of Form NJ-1041. If the amount on 6b is a loss, enter the amount of the loss on this line. Otherwise, enter zero. Keep a copy of this schedule for your records New Jersey Gross Income Tax NJ-NR-A (10-23) Business Allocation Schedule For Tax Years Beginning On and After January 1, 2023 Use this schedule if business activities are carried on both inside and outside New Jersey or if business activities are carried on 100% outside New Jersey. For tax years beginning on and after January 1, 2023, services are sourced based on market sourcing, not cost of performance. This form must be enclosed and filed with your New Jersey Income Tax return. Enter name, address, and Social Security/federal employer identification number as shown on Form NJ-1040NR, NJ-1041, or NJ-1065. Legal name of taxpayer Social Security Number/Federal EIN Trade name of business if different from legal name above For the Tax Year Ending (Month, Day, Year) Address (number and street or rural route) City or Post Office State ZIP Code Business Allocation Percentage Receipts: Amounts (omit cents) 1. From sales of tangible personal property shipped to points within New Jersey..................................................... . 1. 2. From services, if the benefit of the service is received in New Jersey..................................................................... 2. 3. From rentals of property situated in New Jersey...................................................................................................... 3. 4. From royalties for the use in New Jersey of patents, copyrights, and trademarks.................................................... 4. 5. All other business receipts earned in New Jersey................................................................................................... 5. 6. Total New Jersey receipts (Total of lines 1 through 5)............................................................................................. 6. 7. Total receipts from all sales, services, rentals, royalties, and other business transactions everywhere.................. 7. 8. Business Allocation Percentage (Allocation Factor)(Divide line 6 by line 7). Carry the fraction to 6 decimal places and express as a percent. .......................................................................... 8. % Schedule NJK-1 New Jersey Division of Taxation Beneficiary’s or Grantor’s Share of Income (Form NJ-1041) For Calendar Year 2023 or Fiscal Year Beginning Part I , 2023 and Ending 2023 , 20 General Information Beneficiary or Grantor Information Estate or Trust Information Federal Identification Number Federal Identification Number Name Name of Estate or Trust Street Address Name of Fiduciary Street Address City State Check Applicable Box Individual Trust Tax-Exempt Entity Grantor Resident Nonresident Final NJK-1 Amended NJK-1 Part II ZIP Code City State Check Applicable Box Resident Nonresident Estate Trust Grantor Trust ZIP Code Member of Composite Return Beneficiary’s Share of Income Total Distribution New Jersey Source Income Distributed Tax Paid by Partnerships and Distributed Pass-Through Business Alternative Income Tax Credit Distributed Net Income From Estate or Trust Part III Grantor’s Share of Income Everywhere Income Interest NJ Exempt ............... Dividends NJ Exempt ............... Net profits or loss from business.................................................................. Net gains, income or loss from disposition of property................................. Net gains, income or loss from rents, royalties, patents, and copyrights..... Distributive share of partnership income or loss.......................................... Net pro rata share of S corporation income or loss...................................... Other Income – state nature .......................... Tax paid by partnership(s) on behalf of trust................................................ Pass-Through Business Alternative Income Tax Credit................................ This Form May Be Reproduced NJ Source Income Beneficiary and Grantor Reporting of Income For Gross Income Tax reporting purposes, the net income earned by an estate or trust does not retain its character, i.e., interest, partnership income; rather it is a specified income category, Net Gains or Income Derived Through Estates or Trusts. The net income from an estate or trust actually distributed or required to be distributed during the tax year is taxable to the beneficiary in the income category, “Net Income From Estates and Trusts.” In completing New Jersey Form NJ-1040, NJ-1040NR, or NJ-1041, the income is included on the line “Other Income.” Beneficiary Reporting of NJK-1 Information Resident Individual, Estate, or Trust. Include the Total Distribution on Form NJ-1040 or Form NJ-1041, Other Income. Include the Pass-Through Business Alternative Income Tax Credit Distributed on Form NJ-1040, line 63, or Form NJ-1041, line 36a. Nonresident Individual. Include the Total Distribution on Form NJ-1040NR in column A, Other Income. Include the New Jersey Source Income Distributed in column B, Other Income. Include the Tax Paid by Partnerships and Distributed on Form NJ-1040NR, line 52. Include the Pass-Through Business Alternative Income Tax Credit Distributed on Form NJ-1040NR, line 56. Nonresident Estate or Trust. Include the Total Distribution on Form NJ-1041, Other Income. Include the New Jersey Source Income Distributed on Schedule E, Other Income. Include the Tax Paid by Partnerships and Distributed on Form NJ-1041, line 35a. Include the Pass-Through Business Alternative Income Tax Credit Distributed on Form NJ-1041, line 36a. Grantor Reporting of NJK-1 Information Resident Grantor. Include the Everywhere Income amounts in each category of income on Form NJ-1040. Include the Pass-Through Business Alternative Income Tax Credit Distributed on Form NJ-1040, line 63. Nonresident Grantor. Include the Everywhere Income amounts in each category of income on Form NJ-1040NR, column A. Include the New Jersey Source Income amounts in each category of income in column B. Include Tax Paid by Partnerships on Behalf of Trust on Form NJ-1040NR, line 52. Include the PassThrough Business Alternative Income Tax Credit Distributed on Form NJ-1040NR, line 56.
Extracted from PDF file 2023-new-jersey-form-nj-1041.pdf, last modified November 2023

More about the New Jersey Form NJ-1041 Corporate Income Tax Tax Return TY 2023

We last updated the Fiduciary Return Form in January 2024, so this is the latest version of Form NJ-1041, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form NJ-1041 directly from TaxFormFinder. You can print other New Jersey tax forms here.

Related New Jersey Corporate Income Tax Forms:

TaxFormFinder has an additional 95 New Jersey income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the New Jersey Form NJ-1041.

Form Code Form Name
Form NJ-1041-V Fiduciary Return Payment Voucher
Form NJ-1041SB Fiduciary Return Electing Small Business Trust and Instructions

Download all NJ tax forms View all 96 New Jersey Income Tax Forms


Form Sources:

New Jersey usually releases forms for the current tax year between January and April. We last updated New Jersey Form NJ-1041 from the Division of Revenue in January 2024.

Show Sources >

Form NJ-1041 is a New Jersey Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.

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 New Jersey Form NJ-1041

We have a total of thirteen past-year versions of Form NJ-1041 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form NJ-1041

2023 New Jersey Income Tax Fiduciary Return, Form NJ-1041

2022 Form NJ-1041

2022 New Jersey Income Tax Fiduciary Return, Form NJ-1041

2021 Form NJ-1041

2021 New Jersey Income Tax Fiduciary Return, Form NJ-1041

2020 Form NJ-1041

2020 New Jersey Income Tax Fiduciary Return

2019 Form NJ-1041

2019 New Jersey Income Tax Fiduciary Return, form NJ-1041

2018 Form NJ-1041

NJ Form 1041 - Fiduciary Return Form

2017 Form NJ-1041

NJ-1041 - Fiduciary Return Form

2016 Form NJ-1041

NJ-1041 -NJ-1041 - Fiduciary Return Form

NJ-1041 -NJ-1041 - Fiduciary Return Form 2015 Form NJ-1041

NJ-1041 -NJ-1041 - Fiduciary Return Form

Fiduciary Return Form 2014 Form NJ-1041

NJ-1041 - 2012 (web) - FINAL - 12-04-12.qxp

Fiduciary Return Form 2013 Form NJ-1041

NJ-1041 - 2012 (web) - FINAL - 12-04-12.qxp

2012 Form NJ-1041

NJ-1041 - 2012 (web) - FINAL - 12-04-12.qxp


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