Form PA-41 Schedule B "Dividend and Capital Gains Distributions Income" - Pennsylvania

What Is Form PA-41 Schedule B?

This is a legal form that was released by the Pennsylvania Department of Revenue - a government authority operating within Pennsylvania.The document is a supplement to Form PA-41, Pa Fiduciary Income Tax Return. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on October 1, 2018;
  • The latest edition provided by the Pennsylvania Department of Revenue;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form PA-41 Schedule B by clicking the link below or browse more documents and templates provided by the Pennsylvania Department of Revenue.

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Download Form PA-41 Schedule B "Dividend and Capital Gains Distributions Income" - Pennsylvania

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2004710055
PA-41 SCHEDULE B
Dividend and Capital Gains
Distributions Income
PA-41 B 09-20
(FI)
2020
PA Department of Revenue
OFFICIAL USE ONLY
Name as shown on the PA-41
Federal EIN or Decedent’s SSN
START
Caution: If the estate or trust’s total PA-taxable dividend income is equal to the amount reported on the estate or trust’s federal Form
1041 and there are no amounts for Lines 2 through 12 (not including subtotal Line 6) of Schedule B, the estate or trust must report the
dividend income on Line 2 of the PA-41, Fiduciary Income Tax Return, but the estate or trust does not have to submit Schedule B. If
there are any amounts for any of the Lines 2 through 12 (not including subtotal Line 6) of Schedule B, the estate or trust must complete
and submit Schedule B with the estate or trust’s PA-41, Fiduciary Income Tax Return.
1. Dividend income reported on federal Form 1041 Line 2a.
1. $
2. Dividend income from federal Schedule K-1(s). See instructions.
2. $
3. Pennsylvania exempt-interest dividend income. See instructions.
3. $
4. Other reduction adjustments. See instructions.
Description:
4. $
5. Add the amounts on Lines 2, 3 and 4.
5. $
6. Subtract Line 5 from Line 1.
6. $
7. Total exempt-interest dividends. See instructions.
7. $
8. Other addition adjustments. See instructions.
Description:
8. $
9. Repatriation of foreign income. See instructions.
a. Total earnings and profits included on Line 1 of
IRC Section 965 Transition Tax Statement.
9a.
b. Total payments of earnings and profits included
in Line 9a received in prior years.
9b.
c. Payments of earnings and profits included in Line 9a received in current year.
9c. $
10. Capital gains distributions.
10. $
11. Dividend income from partnership(s), from PA Schedule(s) RK-1 or federal
Schedule(s) K-1.
11. $
12. Dividend income from PA S corporation(s), from PA Schedule(s) RK-1
or federal Schedule(s) K-1.
12. $
13. Total dividend income
Add Lines 6, 7, 8, 9c, 10, 11 and 12. Enter on Line 2 of the PA-41.
13. $
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2004710055
PA-41 SCHEDULE B
Dividend and Capital Gains
Distributions Income
PA-41 B 09-20
(FI)
2020
PA Department of Revenue
OFFICIAL USE ONLY
Name as shown on the PA-41
Federal EIN or Decedent’s SSN
START
Caution: If the estate or trust’s total PA-taxable dividend income is equal to the amount reported on the estate or trust’s federal Form
1041 and there are no amounts for Lines 2 through 12 (not including subtotal Line 6) of Schedule B, the estate or trust must report the
dividend income on Line 2 of the PA-41, Fiduciary Income Tax Return, but the estate or trust does not have to submit Schedule B. If
there are any amounts for any of the Lines 2 through 12 (not including subtotal Line 6) of Schedule B, the estate or trust must complete
and submit Schedule B with the estate or trust’s PA-41, Fiduciary Income Tax Return.
1. Dividend income reported on federal Form 1041 Line 2a.
1. $
2. Dividend income from federal Schedule K-1(s). See instructions.
2. $
3. Pennsylvania exempt-interest dividend income. See instructions.
3. $
4. Other reduction adjustments. See instructions.
Description:
4. $
5. Add the amounts on Lines 2, 3 and 4.
5. $
6. Subtract Line 5 from Line 1.
6. $
7. Total exempt-interest dividends. See instructions.
7. $
8. Other addition adjustments. See instructions.
Description:
8. $
9. Repatriation of foreign income. See instructions.
a. Total earnings and profits included on Line 1 of
IRC Section 965 Transition Tax Statement.
9a.
b. Total payments of earnings and profits included
in Line 9a received in prior years.
9b.
c. Payments of earnings and profits included in Line 9a received in current year.
9c. $
10. Capital gains distributions.
10. $
11. Dividend income from partnership(s), from PA Schedule(s) RK-1 or federal
Schedule(s) K-1.
11. $
12. Dividend income from PA S corporation(s), from PA Schedule(s) RK-1
or federal Schedule(s) K-1.
12. $
13. Total dividend income
Add Lines 6, 7, 8, 9c, 10, 11 and 12. Enter on Line 2 of the PA-41.
13. $
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THIS PAGE DOES NOT PRINT
2020
Instructions for PA-41 Schedule B
Dividend and Capital Gains Distributions Income
PA-41 B IN 09-20
WHEN TO INCLUDE
LINE 2
If the estate or trust has any investments in partnerships or
If the estate or trust’s total PA-taxable dividend and capital
S corporations or any dividend income from other estates or
gains distributions income is equal to the amount reported
trusts, the estate or trust must include the amount reported
on the estate or trust’s federal Form 1041 and there are no
for federal income tax purposes. Enter the total amount of
amounts for Lines 2 through 12 (not including subtotal Line
dividend income included in the amount reported for Line 2
6) of Schedule B, the estate or trust must report the
of federal Form 1041 from all federal Schedule(s) K-1.
dividends and capital gains distributions income on Line 2
of the PA-41, Fiduciary Income Tax Return, but the estate
LINE 3
or trust does not have to submit Schedule B. If there are any
amounts for any of the Lines 2 through 12 (not including
If the estate or trust has investments in funds which have
subtotal Line 6) of Schedule B, the estate or trust must
investments where some of the income is tax exempt, the
complete and submit Schedule B with the estate or trust’s
exempt-interest dividends associated with Pennsylvania or
PA-41, Fiduciary Income Tax Return.
U.S.
government
obligations
are
not
taxable
for
Pennsylvania purposes. Enter the total amount of any
GENERAL INFORMATION
exempt-interest dividends from direct obligations of the
Commonwealth of Pennsylvania, direct obligations of
PURPOSE OF SCHEDULE
political subdivisions of Pennsylvania and/or direct
Use PA-41 Schedule B to report dividend and capital gains
obligations of the U.S. Government (U.S. Treasury Bonds,
distributions income of estates and trusts.
Notes, Bills, Certificates and Savings Bonds) included in any
tax-exempt fund or money market fund dividends.
FORM INFORMATION
LINE 4
NAME
Enter the complete name of the estate or trust as shown on
Estates or trusts may need to record other adjustments to
the PA-41, Fiduciary Income Tax Return.
federal dividend income to account for differences in
FEIN OR DECEDENT’S SSN
Pennsylvania and federal tax laws and where there is no
specific line to record that difference. Enter any other
Enter the nine-digit federal employer identification number
adjustments that decrease PA dividend income and provide
(FEIN) of the estate or trust or the decedent’s Social Security
a description of the amounts. An example would include
number as shown on the PA-41, Fiduciary Income Tax
dividend income for a nominee taxpayer recorded on the
Return.
1099 as dividend income of the estate or trust. Do not
An estate with a FEIN should not use the
include expenses incurred to realize dividend income.
decedent’s Social Security number.
LINE 5
LINE INSTRUCTIONS
Add the amounts on Lines 2, 3 and 4.
Please read the Line 2 Instructions on Pages 21 and 22
of the Instructions for Form PA-41 prior to completing
LINE 6
this schedule.
Subtract Line 5 from Line 1.
LINE 1
LINE 7
Enter the amount of dividend income reported on Line 2a
TOTAL EXEMPT-INTEREST DIVIDENDS
of the estate or trust’s federal Form 1041. If there are no
Enter the total amount of exempt-interest dividends (from
amounts for Lines 2 through 12 (not including subtotal Line
Pennsylvania and non-Pennsylvania sources) from Box 11
6) of PA Schedule B, stop here. An estate or trust must
of federal Form 1099-DIV, Dividends and Distributions.
report the amount on Line 2 of the PA-41 form but the estate
or trust is not required to include a copy of the PA-41
LINE 8
Schedule B with the PA-41.
If the trust is not required to file a federal return, see the
If the estate or trust has adjustments to federal-taxable
instructions for Line 8.
dividend income that increase the amount of dividend
www.revenue.pa.gov
PA-41 B
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income reported for federal purposes due to differences
included on Line 9a.
between Pennsylvania and federal tax laws, enter any other
CAUTION: Federal Form 1099-DIV, Dividend Income,
adjustments for items that increase PA-taxable dividend
may not be prepared and sent by the payer for these
income and provide a description of the amounts. Examples
payments. Even if the 1099-DIV is not prepared, the cash
include: distributions from non-PA S corporations and
payments received must be reported as dividend income for
expenses incurred to realize dividend income. Include a
Pennsylvania personal income tax purposes.
statement providing the descriptions and amounts if more
than one type of adjustment is included in the amount
LINE 10
reported for this line.
If the estate or trust is not required to file a federal return,
For Pennsylvania purposes, capital gains distributions are
enter the amount of dividend income reported to the trust in
taxable as dividend income not as capital gains as for federal
Box 1 of all federal Forms 1099-DIV, Dividend and
purposes. Enter the amount of capital gains distributions
Distributions, as well as any other taxable dividend income
included as capital gains on federal Schedule D.
received by the trust for federal grantor trusts or other trusts
Do not report capital gains distributions on PA-41
not required to file a federal tax return.
Schedule D.
LINE 9
LINE 11
As a result of the federal Tax Cuts and Jobs Act of Dec. 22,
2017, additional dividend income may have to be included
DIVIDEND INCOME FROM PARTNERSHIPS FROM
for Pennsylvania personal income tax purposes on income
PA SCHEDULES RK-1
that was subject to the federal Repatriation Transition Tax
If the estate or trust is an owner in a partnership or entity
on the IRC Section 965 Transition Tax Statement for 2017.
formed as a limited liability company that is classified as a
Although the total deemed dividend of accumulated
partnership for federal income tax purposes, it will receive a
earnings and profits taxed for federal income tax purposes
PA-20S/PA-65 Schedule RK-1 showing its share of any
is not includable in Pennsylvania taxable income, the
dividend income.
amount of actual earnings and profits cash payments
received during a tax year are taxable for Pennsylvania
Enter the amount of dividend income from partnerships.
personal income tax purposes. Refer to Informational Notice
Include the amounts reported from all PA Schedule(s) RK-
Corporation Taxes and Personal Income Tax 2018-1: Tax
1, or federal Schedule(s) K-1 if an RK-1 is not provided.
Cuts and Jobs Act of 2017, available on department’s
If the estate or trust realizes income from more than one
website for additional information regarding the repatriation
partnership, provide a statement showing the FEIN, name,
of foreign income.
and amount of distributable/distributed income by each
LINE 9A
partnership.
Enter the amount of deemed dividend foreign earnings and
profits reported on Line 1 of the IRC Section 965 Transition
Submit all PA-20S/PA-65 Schedules RK-1 to support the
Tax Statement for calendar or fiscal year tax returns for 2017.
amount reported on PA-41 Schedule B Line 11. Include a
LINE 9B
copy of federal Form 1065 Schedule K-1 if a PA-20S/PA-65
Enter the amount of cash payments of foreign earnings
Schedule RK-1 is not supplied by a partnership or entity
and profits received in prior tax years attributable to the
formed as a limited liability company that is classified as a
amount reported on Line 9a that were previously
partnership for federal income tax purposes. If the estate or
reported as dividend income for Pennsylvania personal
trust receives only a federal Form 1065 Schedule K-1, it
income tax purposes.
must adjust and classify the income from the federal Form
1065 Schedule K-1 according to Pennsylvania rules. Refer
IMPORTANT: If no amount of repatriated foreign
earnings was reported on the 2017, 2018 and/or 2019
to the PA Personal Income Tax Guide - Pass Through
PA-41 Schedule B as additional dividend income, enter a
Entities section, for additional information on the
zero on Line 9b. However, if cash payments were received
adjustments required and the proper classification of
during 2017, 2018 and/or 2019 attributable to the amount
income.
reported on Line 9a and no income was reported for foreign
repatriated income, the 2017, 2018 and/or 2019 PA-41
LINE 12
should be amended to include the amount received in 2017
DIVIDEND INCOME FROM PA S CORPORATIONS
on Line 8 of the 2017 PA-41 Schedule B or the amount
FROM PA SCHEDULES RK-1
received in 2018 or 2019 on Line 9c of the 2018 or 2019 PA-
41 Schedule B. The amount included on the amended
If the estate or trust is an owner in a PA S corporation or
return(s) should then be included on Line 9b.
entity formed as a limited liability company that is classified
as a PA S corporation for federal income tax purposes, it will
LINE 9C
Enter the amount of cash received during the current tax
receive a PA-20S/PA-65 Schedule RK-1 showing its share
year that is attributable to the repatriation of foreign income
of any dividend income.
2
PA-41 B
www.revenue.pa.gov
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Enter the amount of dividend income from PA S
PA-20S/PA-65 Schedule RK-1 from the entity. The
corporations. Include the amounts reported from all PA
department will only permit the estate or trust to adjust and
Schedule(s) RK-1, or federal Schedule(s) K-1 if an RK-1 is
reclassify the income from federal Form 1120S Schedule K-
not provided.
1 according to Pennsylvania rules in limited circumstances.
Refer to the PA Personal Income Tax Guide - Pass Through
If the estate or trust realizes income from more than one PA
Entities section, for additional information on the
S corporation, provide a statement showing the FEIN, name,
adjustments required and the proper classification of
and amount of income by each PA S corporation.
income.
Submit all PA-20S/PA-65 Schedules RK-1 to support the
LINE 13
amount reported on PA-41 Schedule B Line 12. Include a
copy of the federal Form 1120S Schedule K-1 if a PA-
TOTAL DIVIDEND INCOME
20S/PA-65 Schedule RK-1 is not supplied by the PA S
Add Lines 6, 7, 8, 9c, 10, 11 and 12 on the PA-41 Schedule
corporation or entity formed as a limited liability company
B. Enter the amount here and on the PA-41, Fiduciary
that is classified as a PA S corporation for federal income
Income Tax Return, Line 2.
tax purposes. If the estate or trust receives only a federal
Form 1120S Schedule K-1, the estate or trust must obtain a
www.revenue.pa.gov
PA-41 B
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