Schedule J (Form 1 Accumulation Distribution for Certain Complex Trusts

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I.R.S. SPECIFICATIONS
TO BE REMOVED BEFORE PRINTING
INSTRUCTIONS TO PRINTERS
SCHEDULE J (FORM 1041), PAGE 1 of 2
MARGINS: TOP 1⁄ 2 ", CENTER SIDES.
PRINTS: HEAD TO HEAD
PAPER: WHITE, WRITING, SUB. 20.
INK: BLACK
FLAT SIZE: 81⁄ 2 " x 11"
PERFORATE: (NONE)
DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

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Date

Action

Date

Signature

O.K. to print
Revised proofs
requested

APPROVED AS IS
JC 11/10/2007

SCHEDULE J
(Form 1041)

Cumulative Changes/OMB copy
Yellow highlights show changed information; Blue arrows are ref. checks.

Accumulation Distribution for Certain Complex Trusts

Department of the Treasury
Internal Revenue Service

©

©

2007

Attach to Form 1041.

See the Instructions for Form 1041.

Name of trust

Part I

OMB No. 1545-0092

Employer identification number

Accumulation Distribution in 2007

Note: See the Form 4970 instructions for certain income that minors may exclude and special rules for multiple trusts.
1 Other amounts paid, credited, or otherwise required to be distributed for 2007 (from Schedule B of
Form 1041, line 10)
2 Distributable net income for 2007 (from Schedule B of Form 1041, line 7)
3 Income required to be distributed currently for 2007 (from Schedule B of Form
1041, line 9)

1

2
3

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

4

5 Accumulation distribution for 2007. Subtract line 4 from line 1

5

Part II

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

Note: If the distribution is thrown back to
more than five 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 Distributable net income (see
page 44 of the instructions)

6

7 Distributions (see page 44 of
the instructions)

7

8 Subtract line 7 from line 6

8

9 Enter amount from
line 25 or line
applicable
10 Undistributed net
Subtract line 9 from

page 2,
31, as

Throwback
year ending

Throwback
year ending

Throwback
year ending

Throwback
year ending

Throwback
year ending

9

income
line 8

10

11 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 page
44 of 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 page 45 of the
instructions)

16

17 Subtract line 16 from line 15

17

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

Cat. No. 11382Z

Schedule J (Form 1041) 2007

2
I.R.S. SPECIFICATIONS
TO BE REMOVED BEFORE PRINTING
INSTRUCTIONS TO PRINTERS
SCHEDULE J (FORM 1041), PAGE 2 of 2
MARGINS: TOP 1⁄ 2 ", CENTER SIDES.
PRINTS: HEAD to HEAD
PAPER: WHITE, WRITING, SUB. 20.
INK: BLACK
FLAT SIZE: 81⁄ 2 " x 11"
PERFORATE: (NONE)
DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

Schedule J (Form 1041) 2007

Page

Part III

2

Taxes Imposed on Undistributed Net Income (Enter the applicable throwback years below.) (See page 45 of the instructions.)
Note: If more than five 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

18 Regular tax
19 Trust’s
share
short-term gain

of

net

19

20 Trust’s share of net long-term
gain
21 Add lines 19 and 20
22 Taxable income

20
21
22

23 Enter percent. Divide line 21
by line 22, but do not enter
more than 100%

23

24 Multiply line 18 by
percentage on line 23

24

the

25 Tax on undistributed net
income. Subtract line 24 from
line 18. Enter here and on
page 1, line 9

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0
1

Throwback
year ending

Throwback
year ending

Throwback
year ending

Throwback
year ending

Throwback
year ending

%

%

%

%

%

%

%

%

%

%

25

Do not complete lines 26 through
31 unless the trust elected the
alternative tax on long-term
capital gain.
26 Tax on income other than
long-term capital gain

26

27 Trust’s
share
short-term gain

27

of

net

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

28

29 Enter percent. Divide line 27
by line 28, but do not enter
more than 100%

29

30 Multiply line 26 by
percentage on line 29

30

the

31 Tax on undistributed net
income. Subtract line 30 from
line 26. Enter here and on
page 1, line 9
31
Part IV
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 and on the appropriate
lines of Form 4970

(b)
This
beneficiary’s
share of
line 14

(c)
This
beneficiary’s
share of
line 16

32
33
34
35
36
37

Printed on recycled paper

Schedule J (Form 1041) 2007