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California Free Printable 2019 California Form 541-B Charitable Remainder and Pooled Income Trusts for 2020 California Charitable Remainder and Pooled Income Trusts

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Charitable Remainder and Pooled Income Trusts
2019 California Form 541-B Charitable Remainder and Pooled Income Trusts

TAXABLE YEAR 2019 Charitable Remainder and Pooled Income Trusts CALIFORNIA FORM 541-B Name of trust FEIN Name of trustee(s) Additional information (see instructions) Street address (number and street) or PO box Apt. no./ste. no. City State Foreign country name PMB/private mailbox ZIP code Foreign province/state/county Foreign postal code • Date trust created (mm/dd/yyyy) • Type of trust (1) •  Charitable lead trust (2) •  Charitable remainder annuity trust (3) •  Charitable remainder unitrust (4) •  Pooled income fund (5) • Other Fair Market Value (FMV) of assets at end of taxable year Check the applicable box: Gross Income • Initial Tax Return  • • Final Tax Return  • Amended Tax Return   • New Trustee    • New Address Part I Income and Deductions (All Trusts complete Sections A through D) Section A – Ordinary Income  1 Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  1 00  2a Ordinary dividends (including qualified dividends) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  2a 00    b Qualified dividends (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2b 00  3 Business income (or loss). Attach federal Schedule C (Form 1040 or 1040-SR) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  4 Rents, royalties, partnerships, other estates and trusts, etc. Attach federal Schedule E (Form 1040 or 1040-SR) . . . . . .  5 Farm income (or loss). Attach federal Schedule F (Form 1040 or 1040-SR) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  6 Ordinary gain (or loss). Attach Schedule D-1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  7 Other income. State nature of income ____________________________________________________________ . . .  8 Total ordinary income. Add lines 1, 2a, and 3 through 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Section B – Capital Gains (Losses) •  3 •  4 •  5 •  6 •  7 •  8 10 Add unused capital loss carryover from Schedule D (541) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • • 11 Unrecaptured IRC Section 1250 gain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 00 00 00 00 00 00 00  9 00 10 00 12 Total capital gains (losses). Combine lines 9 and 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Section C – Nontaxable Income 00 13 Tax-exempt interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 00 14 Other nontaxable income. List type and amount ____________________________________________________ . . . . . 14 00 15 Total nontaxable income. Add lines 13 and 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 00  9 Net capital gain (loss) from Schedule D (541), line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sign Here Under penalties of perjury, I declare that I have examined this tax return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Signature of trustee or officer representing trustee Date X Preparer’s signature Date X Paid Preparer’s Firm’s name (or yours, if self-employed) and address Use Only Check if selfemployed ▶ • • PTIN • Firm’s FEIN Telephone May the FTB discuss this tax return with the preparer shown above (see instructions)? . . . . . . . . . . . . . . . . . . . . . . . . . For Privacy Notice, get FTB 1131 ENG/SP. 7021193 • • Yes  • No Form 541-B 2019 Side 1 ■ Section D – Deductions 16 Interest 16 00 17 Taxes 17 00 18 Trustee fees 18 00 19 Attorney, accountant, and tax return preparer fees  19 00 20 Other allowable deductions Attach schedule  20 00 21 Total (Add lines 16 through 20)  21 00 23a 00 23b 00 24a 00 24b 00 25a 00 25b 00 22 Charitable deduction 22 00 Section E – Deductions Allocable to Income Categories (IRC Section 664 trust only) 23a Enter the amount from line 21 allocable to ordinary income  b Subtract line 23a from line 8 24a Enter the amount from line 21 allocable to capital gains (losses)  b Subtract line 24a from line 12 25a Enter the amount from line 21 allocable to nontaxable income b Subtract line 25a from line 15 ■ Side 2 Form 541-B 2019 7022193 ■ ■ Part II Unrelated Business Taxable Income 26 Did the trust have any unrelated business taxable income? m Yes If “Yes,” fle a separate Form 541 to report the tax due . . . . $ _________________________or overpaid tax . . . . $ _______________________ Part III Schedule of Distributable Income m No (IRC Section 664 trust only) Accumulations (a) Ordinary income (b) Capital gains (losses) (c) Nontaxable income 27 Undistributed income from prior taxable years 28 Current taxable year net income year (before distributions) • In column (a), enter the amount from line 23b • In column (b), enter the amount from line 24b • In column (c), enter the amount from line 25b 29 Total distributable income Add lines 27 and 28 Part IV-A Distributions of Principal for Charitable Purposes 30 Principal distributed in prior taxable years for charitable purposes 31 Principal distributed during the current taxable year for charitable puposes Fill in the information for columns (A), (B), and (C) and enter the amount distributed on the space to the right (A) Payee’s name and address (B) Date of distribution (mm/dd/yyyy) 30 00 31a 00 31b 00 31c 32 00 00 33a 33b 34 00 00 00 35a 00 35b 00 35c 36 37 00 00 00 (C) Charitable purpose and description of assets distributed a b c  32 Total. Add lines 30 through 31c Part IV-B Accumulated Income Set Aside and Income Distributions for Charitable Purposes 33a Accumulated income set aside in prior taxable years for which a deduction was claimed under IRC Section 642(c) 33b Enter the amount shown on Side 2, line 22 34 Add lines 33a and 33b 35 Distributions made during the taxable year: • For income set aside in prior taxable years for which a deduction was claimed under IRC Section 642(c), • For charitable purposes for which a charitable deduction was claimed under IRC Section 642(c) in the current taxable year Fill in the information for columns (A), (B), and (C) and enter the amount distributed on the line to the right (A) Payee’s name and address (B) Date of distribution (mm/dd/yyyy) (C) Charitable purpose and description of assets distributed a b c 36 Add lines 35a through 35c 37 Carryover Subtract line 36 from line 34 ■ 7023193 Form 541-B 2019 Side 3 ■ ■ Part V Balance Sheet (a) Beginning-of-Year Book Value Assets 38 Cash – non-interest bearing 39 Savings and temporary cash investments 40 a Accounts receivable 40a b Less: allowance for doubtful accounts 40b 41 Receivables due from offcers, directors, trustees, and other disqualifed persons Attach schedule 42 a Other notes and loans receivable 42a b Less: allowance for doubtful accounts 42b 43 Inventories for sale or use 44 Prepaid expenses and deferred charges 45 a Investments – U S and state government obligations Attach schedule b Investments – corporate stock Attach schedule c Investments – corporate bonds Attach schedule 46 a Investments – land, buildings, and equipment basis Attach schedule 46a b Less: accumulated depreciation 46b 47 Investments – other Attach schedule 48 a Land, buildings, and equipment (trade or business): 48a basis b Less: accumulated depreciation 48b 49 Other assets Describe ____________________________________________ 50 Total assets. Add lines 38 through 49 Liabilities 51 Accounts payable and accrued expenses 52 Deferred revenue 53 Loans from offcers, directors, trustees, and other disqualifed persons 54 Mortgages and other notes payable Attach schedule 55 Other liabilities Describe __________________________________________ 56 Total liabilities. Add lines 51 through 55 Net Assets 57 Trust principal or corpus 58 a Undistributed income b Undistributed capital gains c Undistributed nontaxable income 59 Total net assets. Add lines 57 through 58c 60 Total liabilities and net assets. Add line 56 and line 59 ■ Side 4 Form 541-B 2019 7024193 (b) End-of-Year Book Value (c) FMV (see instructions) 38 39 I 41 I 43 44 45a 45b 45c 47 49 50 51 52 53 54 55 56 57 58a 58b 58c 59 60    (a) Beginning-of-Year Book Value (a) Beginning-of-Year Book Value   (b) End-of-Year Book Value (b) End-of-Year Book Value  (c) FMV (see instructions)  (c) FMV (see instructions)  ■ ■ Part VI-A Charitable Remainder Annuity Trust (CRAT) Information (Complete only if a IRC Section 664 CRAT) 61 a Enter the initial fair market value (FMV) of the property placed in the trust b Enter the total annual annuity amounts for all recipients  00 00 61a 61b Part VI-B Charitable Remainder Unitrust (CRUT) Information (Complete only if a IRC Section 664 CRUT) m Yes m No 62 Is the CRUT a net income charitable remainder unitrust (NICRUT) as described in IRC Regulations Section 1 664-3(a)(1)(i)(b)(1)? 63 Is the CRUT a net income with make-up charitable remainder unitrust (NIMCRUT) as described in IRC Regulations Section 1 664-3(a)(1)(i)(b)(2)? m Yes m No m Yes m No 64 Did the trust change its method of payment during the taxable year? If “Yes,” describe the triggering event Include the date of the event and the old method of payment ____________________________________________ ___________________________________________________________________________________________________________________________ 65 a Enter the unitrust fxed percentage to be paid to the recipients 65a % b Unitrust amount Subtract line 56, column (c) from line 50, column (c) and multiply the result by the percentage 00 on line 65a 65b If “Yes,” on line 62 or line 63, go to line 66a Otherwise skip lines 66a through 67b and enter the line 65b amount on line 68 00 66 a Trust’s accounting income for 2019 Attach schedule 66a If “Yes,” on line 62, go to line 66b If “Yes,” on line 63, skip line 66b and go to line 67a b Enter the smaller of line 65b or line 66a here and on line 68 Skip lines 67a and 67b 00 66b   67 a Total accumulated distribution defciencies from previous years b Add lines 65b and 67a If lines 67a and 67b are completed, enter the smaller of line 66a or line 67b on line 68 68 Required unitrust distribution for 2019 69 Carryover of accumulated distribution defciency (only for trusts that answered “Yes” on line 63 ) Subtract line 68 from line 67b 70 If this is the fnal tax return, enter the initial FMV of all assets placed in trust by the donor 71 Did the trustee change the method of determining the FMV of the assets? If “Yes,” attach an explanation 72 Were any additional contributions received by the trust during 2019? If “Yes,” complete Side 6, Schedule A, Part III  67a 67b 00 00 68 00 69 70 00 00 m Yes m No m Yes m No Part VII Questionnaire for Charitable Lead Trusts, Pooled Income Funds, and Charitable Remainder Trusts Section A – All Trusts 73 Check this box if any of the split-interest trust’s income interests expired during 2019 74 Check this box if all of the split-interest trust’s income interests expired before 2019 If either box is checked and this is not a fnal tax return, attach an explanation Section B – Charitable Lead Trusts 75 Enter the amount of annuity or unitrust payments required to be paid to charitable beneficiaries for 2019 m m Section C – Pooled Income Funds 76 Enter the amount of contributions received during 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77 Enter the amount required to be distributed for 2019 to satisfy the remainder interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78 Enter any amounts that were required to be distributed to the remainder benefciary that remain undistributed 79 Enter the amount of income required to be paid to the charitable remainder beneficiary for 2019 . . . . . . . . . . . . . . . . . . . 75 00 76 77 78 79 00 00 00 00 Section D – Charitable Remainder Trusts 80 Check this box if you are fling for a charitable remainder annuity trust or a charitable remainder unitrust whose charitable interests m involve only cemeteries or war veterans’ posts 81 Check this box if you are making an election under IRC Regulations Section 1 664-2(a)(1)(i)(a)(2) or 1 664-3(a)(1)(i)(g)(2) to treat m income generated from certain property distributions (other than cash) by the trust as occurring on the last day of the taxable year 82 Is this the initial tax return? If “Yes,” attach a copy of the trust instrument m Yes m No m Yes m No 83 Was the trust instrument amended during the year? If “Yes,” attach a copy m Yes m No 84a If this is the fnal tax return, were fnal distributions made according to the trust instrument? m Yes m No b If “Yes,” did you complete Side 3, Part IV-A, line 31? c If “No,” explain why ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________________ m Yes m No m N/A 85 If this was the fnal year, was an early termination agreement signed by all parties to the trust? If “Yes,” attach a copy of the signed agreement 86 At any time during the calendar year 2019, did the trust have an interest in or a signature or other authority over a bank, securities, m Yes m No or other fnancial account in a foreign country? If “Yes,” enter the name of the country: ____________________________________________________________________________________________ ■ 7025193 Form 541-B 2019 Side 5 ■ ■ Schedule A – Distributions, Assets, and Donor Information Part I Accumulation Schedule (IRC Section 664 trust only) (a) Ordinary income Accumulations (b) Capital gains (losses) (c) Nontaxable income 1 Total distributable income Enter the amount from Side 3, Part III, line 29 2a Total distributions for 2019 _____________________ 2b 2019 distributions from income 3 Undistributed income at end of taxable year Subtract line 2b from line 1 Part II-A Current Distributions Schedule (IRC Section 664 trust only) (a) Name of recipient   4a 4b 4c 4a 4b 4c Total   (d) Ordinary income   (b) Identifying number   (e) Capital gains (f) Nontaxable income     (c) Percentage of total unitrust amount payable (if applicable) % % % (g) Corpus (h) Total Add cols (d) through (g) m If Part II-A Total, column (h) does not agree with line 61b for a CRAT or line 68 for a CRUT, check here and attach explanation Part II-B Current Distributions (charitable lead trust or pooled income funds only) 5 Enter the amount required to be paid to private beneficiaries for 2019 $______________________ Part III Assets and Donor Information Is this the initial tax return or were additional assets contributed to the trust in 2019? m Yes m No 6 If “Yes,” complete the schedule below. If “No,” complete only column (a) of the schedule below (a) Name and address of donor (b) Description of each asset donated (c) FMV of each asset on date of donation (d) Date of donation (mm/dd/yyyy) 7a 7b 7c 7d Total. Add lines 7a through 7c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ■ Side 6 Form 541-B 2019 7026193 ■
Extracted from PDF file 2019-california-form-541-b-form.pdf, last modified November 2019

More about the California Form 541-B Form Corporate Income Tax TY 2019

This form is to be filled out if you have a pooled income trusts and requires you to estimate any deductions depending on that type of income.

We last updated the Charitable Remainder and Pooled Income Trusts in March 2020, so this is the latest version of Form 541-B Form, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form 541-B Form directly from TaxFormFinder. You can print other California tax forms here.

Other California Corporate Income Tax Forms:

TaxFormFinder has an additional 174 California income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form 568 Schedule K-1 Member's Share of Income, Deductions, Credits, etc. (Fill-in)
Form 3522 Limited Liability Company Tax Voucher
3805-Z Booklet Enterprise Zone Business Booklet
Form 541 Schedule K-1 Beneficiary's Share of Income, Deductions, Credits, etc.
Form 541 California Fiduciary Income Tax Return

Download all CA tax forms View all 175 California Income Tax Forms


Form Sources:

California usually releases forms for the current tax year between January and April. We last updated California Form 541-B Form from the Franchise Tax Board in March 2020.

Show Sources >

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 California Form 541-B Form

We have a total of nine past-year versions of Form 541-B Form in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form 541-B Form

2019 California Form 541-B Charitable Remainder and Pooled Income Trusts

2018 Form 541-B Form

2018 Form 541-B - Charitable Remainder and Pooled Income Trusts

2017 Form 541-B Form

2017 Form 541-B - Charitable Remainder and Pooled Income Trusts

2016 Form 541-B Form

2016 Form 541-B -- Chartible Remainder and Pooled Income Trusts

Charitable Remainder and Pooled Income Trusts 2015 Form 541-B Form

2015 Form 541-B -- Charitable Remainder and Pooled Income Trusts

Charitable Remainder and Pooled Income Trusts 2014 Form 541-B Form

2014 Form 541-B -- Charitable Remainder and Pooled Income Trusts

Charitable Remainder and Pooled Income Trusts 2013 Form 541-B Form

2013 Form 541-B -- Charitable Remainder and Pooled Income Trusts

2012 Form 541-B Form

2012 Form 541-B -- Charitable Remainder and Pooled Income Trusts

2011 California Form 541-B 2011 Form 541-B Form

2011 Form 541-B -- Charitable Remainder and Pooled Income Trusts


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