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Iowa Fiduciary Return 63-001
Extracted from PDF file 2023-iowa-form-ia-1041.pdf, last modified March 2023Fiduciary Return 63-001
2023 IA 1041 Iowa Fiduciary Return tax.iowa.gov For Calendar Year 2023 or tax year beginning to M M D D Y Y Y Y Initial Return Return Type (Check Applicable Boxes:) M M D D Y Y Y Amended Return (Include IA 102) Final Return Y Yes Is an IA 706 being filed? Estate or Trust Entity Type (Mark all that apply): Grantor Trust Simple Trust Testamentary If a trust, check one: Complex Trust Bankruptcy Estate Burial Trust Fund Inter Vivos Resident Residency Status: Short Period No Tax Certificate of Acquittance Requested? Estate Section 645 Election Nonresident Part-year resident Federal Employer Identification Number (FEIN) Name of estate or trust Decedent’s Social Security Number (SSN) Name and title of fiduciary Address of fiduciary City State Iowa County in which estate is pending: Probate number: 63-001a (08/18/2023) ZIP Date of Death: 2023 IA 1041, Page 2 Name of estate or trust FEIN Yes Composite Return Requirement - Does the trust or estate have any of the following in the tax year? No 1. A nonresident individual as a beneficiary?........................................................................................... 2. An estate or trust without a situs in Iowa as a beneficiary?.................................................................. 3. A C or S corporation without a commercial domicile in Iowa as a beneficiary?................................... 4. A partnership without a commercial domicile in Iowa as a beneficiary?............................................... 5. A composite credit received from another entity on an Iowa K-1?....................................................... If you answered yes to any of “1” through “5”, you may have a composite return requirement, see instructions. 63-001b (08/18/2023) 2023 IA 1041, Page 3 FEIN Name of estate or trust POWER OF ATTORNEY AUTHORIZATION (POA) Authorization is granted to the person listed below to act as the estate’s representative before the Iowa Department of Revenue, to make written or oral presentation on behalf of the estate, and to receive confidential state tax information under Iowa Code section 450.68, including an income tax certificate of acquittance. This authorization is limited to those acts and information relevant to this return, and does not authorize the representative to receive federal tax information. Representative Name Representative identification number SSN ID Type, check one: Phone number PTIN IAN ITIN Email Address City State ZIP DESIGNATION FOR TAX DISCLOSURE (for individuals not authorized to act on behalf of the taxpayer) This designation allows for the designee to receive the estate’s confidential state tax information in regard to this return. This designation does not authorize a designee to represent the estate or receive federal tax information. Representative Name Representative identification number SSN ID Type, check one: Phone number PTIN Email Address City State 63-001c (08/18/2023) ZIP IAN ITIN 2023 IA 1041, Page 4 Name of estate or trust FEIN Enter Dollars and Cents 1. Interest income.................................................................................................................................. 2. Ordinary dividends............................................................................................................................ 3. Business income or (loss)................................................................................................................. 4. Capital gain or (loss)......................................................................................................................... 5. Rents, royalties, partnerships, other estate and trusts, etc............................................................... 6. Farm income or (loss)....................................................................................................................... 7. Ordinary gain or (loss)....................................................................................................................... 8. Other income. List type........................................................ 9. Total federal income. Add lines 1 through 8...................................................................................... 10. Interest.............................................................................................................................................. 11. Taxes................................................................................................................................................. 12. Fiduciary fees.................................................................................................................................... 13. Charitable deduction......................................................................................................................... 14. Attorney, accountant, and return preparer fees................................................................................. 15. Other deductions............................................................................................................................... 16. Net operating loss (NOL) deduction.................................................................................................. 17. Total federal deductions. Add lines 10 through 16............................................................................. 18. Federal adjusted total income or (loss). Subtract line 17 from line 9................................................ 19. Iowa net modification from Schedule A, Part II, line 8....................................................................... 20. Iowa adjusted total income or (loss). Add line 18 and 19 ................................................................. 21. Iowa income distribution deduction from Schedule B, line 15, but not less than 0............................ 22. Qualified business income deduction................................................................................................ 23. RESERVED FOR FUTURE USE...................................................................................................... 24. Total of lines 21 through 23............................................................................................................... 25. Iowa taxable income. Subtract line 24 from line 20........................................................................... 26. Tax from tax rate schedule. If line 25 is zero or less, enter 0............................................................ 27. IA 103 tax. Enter the amount from the IA 103, line 26....................................................................... 28. Iowa lump sum tax. Include federal Schedule 4972.......................................................................... 29. RESERVED FOR FUTURE USE...................................................................................................... 30. Tax on the ESBT portion of the trust from Schedule E...................................................................... 31. Tax before credits. Add lines 26 through 30...................................................................................... 63-001d (01/04/2024) 1 00 2 00 3 00 4 00 5 00 6 00 7 00 8 00 9 00 10 00 11 00 12 00 13 00 14 00 15 00 16 00 17 00 18 00 19 00 20 00 21 00 22 00 23 24 00 25 00 26 00 27 00 28 00 29 30 00 31 00 2023 IA 1041, Page 5 Name of estate or trust FEIN Enter Dollars and Cents 32. Personal exemption. Enter $40 or the amount on line 31, whichever is smaller............................... 33. Nonresident, part-year resident tax credit, Schedule C, line 30........................................................ 34. Balance. Subtract lines 32 and 33 from line 31................................................................................. 35. Out of State tax credit. Include IA 130............................................................................................... 36. Balance. Subtract line 35 from line 34............................................................................................... 37. Other nonrefundable tax credits. Include IA 148............................................................................... 38. Total fiduciary tax. Subtract line 37 from line 36................................................................................ 39. Income tax withheld. Include federal form(s) 1099 or supporting documentation............................. 40. Estimated taxes paid to date............................................................................................................. 41. Composite and PTET credit. Include Iowa Schedule CC.................................................................. 42. Motor fuel tax credit. Include IA 4136................................................................................................ 43. Other refundable credits. Include IA 148........................................................................................... 44. Total refundable credits. Add lines 39 through 43............................................................................. 45. Tax Liability. If line 44 is smaller than line 38, enter the difference.................................................... 46. Refund. If line 44 is greater than line 38, enter the difference........................................................... a. Routing Number b. Account Number 47. Penalty and Interest 00 33 00 34 00 35 00 36 00 37 00 38 00 39 00 40 00 41 00 42 00 43 00 44 00 45 00 46 00 c. Account Type 47a. Penalty 47b. Interest Checking Savings 00 00 Enter total here....... 48. Amount due: Add lines 45 and 47. Submit with form 1041V............................................................. 63-001e (08/18/2023) 32 47 00 48 00 2023 IA 1041, Page 6 Name of estate or trust FEIN Schedule A: Iowa Modifications Enter Dollars and Cents Part I: Modifications to Federal Taxable Income – Additions 1. Interest from foreign securities and state municipal securities.......................................................... 2. Dividends not included in federal income.......................................................................................... 3. Taxable federal refund....................................................................................................................... 4. Other income..................................................................................................................................... 5. Total additions (Add lines 1 through 4).............................................................................................. 1 00 2 00 3 00 4 00 5 00 1 00 2 00 3 00 4 00 5 00 6 00 7 00 8 00 Part II: Modifications to Federal Taxable Income – Subtractions 1. Taxable interest income received from federal obligations................................................................ 2. Dividend income received from federal obligations........................................................................... 3. Iowa tax refund included on federal 1041, line 8............................................................................... 4. Federal income tax paid.................................................................................................................... 5. Administrative expenses allowed for estate tax purposes................................................................. 6. Other deductions............................................................................................................................... 7. Total subtractions (Add lines 1 through 6)......................................................................................... 8. Net modification (Subtract Part II, line 7 from Part I, line 5)............................................................ Enter this amount on page 4, line 19. 63-001f (08/18/2023) 2023 IA 1041, Page 7 Name of estate or trust FEIN Schedule B: Iowa Distributable Net Income: Enter Dollars and Cents 1. Iowa adjusted total income or (loss) from IA 1041, line 20................................................................ 1 00 2 00 3 00 4 00 5 00 6 00 If Iowa adjusted total income and the total from IA 1041, line 4 are losses, use the smaller loss. 2. Adjusted tax-exempt income............................................................................................................. 3. Enter the amount from federal form 1041, Schedule B, line 3.......................................................... 4. Enter the amount from federal form 1041, Schedule B, line 4.......................................................... 5. Enter the amount from federal form 1041, Schedule B, line 5.......................................................... 6. If the amount on IA 1041, line 4 is a gain, enter as a negative number. If the amount on IA 1041, line 4 is a loss, enter the loss as a positive number................................. 7. Combine lines 1 through 6. If zero or less, enter 0. This is your Iowa distributable net income........................................................................................ 7 00 8. If a complex trust, enter the accounting income for the tax year as determined under the governing instrument......................................................................................................... 8 00 9. Income required to be distributed currently....................................................................................... 9 00 10. Other amounts paid, credited, or otherwise required to be distributed.............................................. 11. Add lines 9 and 10. This is your actual total distributions for the year.............................................. 12. Tax exempt income included in actual distributions included on IA 1041, line 18............................. 13. Subtract line 12 from line 11. This is your tentative income distribution deduction based on actual distributions............................................................................................................. 14. Subtract line 2 from line 7. This is your tentative income distribution deduction............................... 15. Enter the smaller of line 13 or line 14 here, and on the IA 1041, line 21. If zero or less, enter 0. This is your Iowa income distribution deduction........................................... 63-001g (08/18/2023) 10 00 11 00 12 00 13 00 14 00 15 00 2023 IA 1041, Page 8 FEIN Name of estate or trust Schedule C: Computation of Nonresident/Part-Year Resident Tax Credit Moved into Iowa Moved out of Iowa Full-year nonresident Date of change in residency: M M D D Y Y Y Y Enter Dollars and Cents Column A All Source Income from IA 1041 1. Interest income......................................................................... 2. Ordinary dividends................................................................... 3. Business income or (loss)........................................................ 4. Capital gain or (loss)................................................................ 5. Rents, royalties, partnerships, other estate and trusts, etc...... 6. Farm income or (loss).............................................................. 7. Ordinary gain or (loss).............................................................. 8. Other income............................................................................ 9. Total income. Add lines 1 through 8......................................... 10. Interest..................................................................................... 11. Taxes........................................................................................ 12. Fiduciary fees........................................................................... 13. Charitable deduction................................................................ 14. Attorney, accountant, and return preparer fees........................ 15. Other deductions...................................................................... 16. Net operating loss (NOL) deduction......................................... 17. Total deductions. Add lines 10 through 16................................ 18. Modifications from IA 1041 Schedule A, Part II, line 8.............. 19. Balance. Subtract line 17 from line 9, then add line 18............ 20. Distribution to beneficiaries...................................................... 21. Qualified business income deduction....................................... 22. RESERVED FOR FUTURE USE............................................. 23. Total. Add lines 20 through 22.................................................. 24. Taxable income of fiduciary. Subtract line 23 from line 19....... 63-001h (08/18/2023) Column B Iowa Source 1 00 00 2 00 00 3 00 00 4 00 00 5 00 00 6 00 00 7 00 00 8 00 00 9 00 00 10 00 00 11 00 00 12 00 00 13 00 00 14 00 00 15 00 00 16 00 00 17 00 00 18 00 00 19 00 00 20 00 00 21 00 00 22 23 00 00 24 00 00 2023 IA 1041, Page 9 FEIN Name of estate or trust Enter Dollars and Cents 25. Iowa income percentage. Divide column B, line 24 by column A, line 24 and enter percentage rounded to nearest ten-thousandth of a percent. This cannot exceed 100.0000%........................................................................................................ 26. Nonresident credit percentage. Subtract line 25 from 100.0%.......................................................... 27. Iowa tax on total income from IA 1041, line 26.................................................................................. 28. Personal exemption credit from IA 1041, line 32............................................................................... 29. Tax after credits. Subtract line 28 from line 27.................................................................................. 30. Nonresident tax credit. Multiply line 29 by line 26 Also enter this amount on IA 1041, line 33........................................................................................ 25 26 . 0 0 0 0 % . 0 0 0 0 % 27 00 28 00 29 00 30 00 Schedule E: Electing Small Business Trust (ESBT) Tax Computation Enter Dollars and Cents 1. Total federal adjusted ESBT income................................................................................................. 2. Iowa additions to ESBT income (include statement)......................................................................... 3. Iowa deductions to ESBT income (include statement)...................................................................... 4. Iowa taxable ESBT income. Add lines 1 and 2, then subtract line 3................................................. 5. Tax from tax rate schedule. Residents enter here and on IA 1041, line 30....................................... 1 00 2 00 3 00 4 00 5 00 6 00 7 8 Nonresidents and part-year residents continue to line 6 Nonresident and part-year resident trusts/estates 6. Iowa source income.......................................................................................................................... 7. Divide line 6 by line 4 (round to the nearest ten-thousandth of a percent)........................................ 8. Tax on ESBT portion. Multiply line 7 by line 5. Report this amount on IA 1041, line 30.................... 63-001i (08/18/2023) . 0 0 0 0 % 00 2023 IA 1041, Page 10 Name of estate or trust FEIN When you pay by check, you authorize the Department of Revenue to convert your check to a one time electronic banking transaction. Declaration: I, the undersigned, declare under penalties of perjury or false certificate, that I have examined this return and, to the best of my knowledge and belief, it is true, correct, and complete. Paper-filed returns must be signed by hand or via a digital signature with digital certificate. Stamped or typed signatures are not accepted. Date Signature of fiduciary or officer representing fiduciary M Preparer’s PTIN Preparer’s Address City Mail to: D Y Y Y Y D D Y Y Y Y M Sign Here D Date Signature of preparer other than fiduciary: Sign Here M State Fiduciary Return Processing Iowa Department of Revenue PO Box 10467 Des Moines, IA 50306-0467. 63-001j (08/18/2023) ZIP M
Form IA 1041
More about the Iowa Form IA 1041 Corporate Income Tax Tax Return TY 2023
We last updated the Fiduciary Return 63-001 in January 2024, so this is the latest version of Form IA 1041, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form IA 1041 directly from TaxFormFinder. You can print other Iowa tax forms here.
Related Iowa Corporate Income Tax Forms:
TaxFormFinder has an additional 43 Iowa income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Iowa Form IA 1041.
| Form Code | Form Name |
|---|---|
| Form IA 1041V | Iowa Fiduciary Income Tax Payment Voucher |
| IA 1041-C | Schedule C Computation of Nonresident's Tax Credit |
| Form IA 1041 Instructions | Fiduciary Tax Return Instructions 63-002 |
View all 44 Iowa Income Tax Forms
Form Sources:
Iowa usually releases forms for the current tax year between January and April. We last updated Iowa Form IA 1041 from the Department of Revenue in January 2024.
Form IA 1041 is an Iowa 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 Iowa Form IA 1041
We have a total of thirteen past-year versions of Form IA 1041 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2022 Form IA 1041
IA1041 Fidicuary Income Tax Return (63001)
2021 Form IA 1041
IA 1120F Franchise Return for Financial Institutions, 43-001
2020 Form IA 1041
IA1041 Fidicuary income tax return (63001)
2019 Form IA 1041
IA1041 Fidicuary Income Tax Return 63,001
2018 Form IA 1041
IA1041 Fidicuary income tax return (63001)
2017 Form IA 1041
IA1041 Fidicuary income tax return (63001)
2016 Form IA 1041
IA1041 Fidicuary income tax return (63001)
2015 Form IA 1041
63001.pmd
2014 Form IA 1041
63001.pmd
2013 Form IA 1041
Iowa Fiduciary Return
2012 Form IA 1041
Iowa Fiduciary Return
2011 Form IA 1041
Iowa Fiduciary Return
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