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Hawaii Free Printable Schedule J, form N-40, Rev. 2019, Trust Allocation of an Accumulation Distribution for 2020 Hawaii Supplemental Annuities Schedule

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Supplemental Annuities Schedule
Schedule J, form N-40, Rev. 2019, Trust Allocation of an Accumulation Distribution

Clear Form STATE OF HAWAII — DEPARTMENT OF TAXATION SCHEDULE J FORM N-40 (REV. 2019) TRUST ALLOCATION OF AN ACCUMULATION DISTRIBUTION 2019 File with Form N-40 See federal Instructions for Form 1041, Schedule J For domestic complex trusts with tax year beginning _____________________  and ending ____________________ and which distributed income accumulated in earlier years. Name of trust Part I Federal Employer I.D. No. Accumulation Distribution in 2019 1. Other amounts paid, credited, or otherwise required to be distributed for 2019 (from Schedule B (Form N-40), line 12)..... 2. 3. Distributable net income for 2019 (from Schedule B (Form N-40), line 9)................... 2 Income required to be distributed currently for 2019 (from Schedule B (Form N-40), line 11)................................................................................ 3 4. Line 2 minus line 3. If line 3 is more than line 2, enter zero........................................................................................ 4 5. Accumulation distribution for 2019 (Line 1 minus line 4)............................................................................................ Part II 7. 5 Ordinary Income Accumulation Distribution (Enter the applicable throwback years below.) If the distribution is thrown back to more than five years (starting with the earliest applicable tax year beginning after December 31, 1968), attach additional schedules. 6. 1 Throwback Year Throwback Year Throwback Year Throwback Year Throwback Year Enter Distributable Net Income as determined under the governing ­instrument (Accounting Income)......... 6 Distributions (Enter line 13, Schedule B, Form N-40 for 1990 through 2018; line 1, Schedule G, Form ­N-40 for 1987 through 1989; for years prior to 1987, enter total of columns 3 & 4, Schedule C, Form N-40, for each throwback year).................................. 7 8. Line 6 minus line 7.............................. 8 9. Enter amount from line 25, Part III...... 9 10. Undistributed net income (Line 8 minus line 9)....................................... 10 11. Enter amount of prior accumulation distributions thrown back to any of these years......................................... 11 12. Line 10 minus line 11.......................... 12 13. Allocate amount on line 5 to earliest applicable year first, but not more than line 12 for the same year............ 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 (Divide line 15 by line 6 and multiply result by line 2(c), Schedule B (Form N-40), or equivalent for applicable throwback year)................. 16 17. Line 15 minus line 16.......................... 17 N40SCHJ_I 2019A 01 VID01 ID NO 01 SCHEDULE J FORM N-40 SCHEDULE J FORM N-40 (REV. 2019) Part III PAGE 2 Taxes Imposed on Undistributed Net Income (Enter the applicable throwback years below.) If more than five throwback years are involved, attach additional schedules. If the trust received an accumulation distribution from another trust, see federal Regulations section 1.665(d)-1A. Throwback Year Throwback Year Throwback Year Throwback Year Throwback Year 18. Tax (Enter tax amount from line 22, page 1 of Form N-40 for years prior to 1/1/83. For years after 12/31/82 through 12/31/08, enter amount from line 23, page 1 of Form N-40 for each throwback year. For years after 12/31/08, enter amount from line 1, Schedule G of Form N-40)............................................................... 18 19. Net short term gain (Enter the smaller of the amount from line 15, col. (b), or line 17, col. (b), 2018 Schedule D (Form N-40) and comparable lines for other throwback years.)...................... 19 20. Net long term gain (For years prior to 1/1/79, enter 50% of line 16(e) or line 13(e), whichever is applicable, Schedule D (Form N-40). For years after 12/31/78 through 12/31/86, enter 40% of line 16(e), Schedule D (Form N-40). For 1/1/87 through 3/31/87, enter 45% of line 20(e), Schedule D-TR (Form N-40). For 4/1/87 to 12/31/87, enter the smaller of line 22 or 23, column 2, Schedule D (Form N-40). For 1988 through 2007, enter the smaller of line 16 or 17, column (b), Schedule D (Form N-40). For 2008 through 2017, enter the smaller of line 18 or 19, column (b), Schedule D (Form N-40). For 2018, enter the smaller of line 16 or 17, column (b), Schedule D (Form N-40).)..................................................... 20 21. Total net capital gain (Add lines 19 and 20, if net loss, enter zero.)........... 21 22. Taxable income (Enter taxable income amount from line 21, page 1, Form N-40 for years prior to 1/1/83. For years after 12/31/82, enter the amount from line 22, page 1 of Form N-40.)... 22 23. Enter percent (Divide line 21 by line 22, but not more than 100%).............. 23 24. Multiply amount on line 18 by percentage on line 23......................... 24 25. Tax on undistributed net income (Line 18 minus line 24. Enter here and on page 1, line 9.)........................ 25 Allocation to Beneficiary — Be sure to complete Form N-405, Tax on Accumulation Distributions of Trusts. Part IV Complete Part IV for each beneficiary. If the accumulation distribution is allocated to more than one beneficiary, attach an additional Schedule J with Part IV completed for each additional beneficiary. If more than five throwback years are involved, attach additional schedules. Beneficiary’s name Identifying number Beneficiary’s Mailing Address (number and street; apartment number or rural route) City, town, or post office, State, and Postal/ZIP Code 26. Throwback year .................................................................................... 26 27. Throwback year .................................................................................... 27 28. Throwback year .................................................................................... 28 29. Throwback year .................................................................................... 29 30. Throwback year .................................................................................... 30 This beneficiary’s share of line 13 (a) This beneficiary’s share of line 14 (b) This beneficiary’s share of line 16 (c) 31. Total. (add amounts on lines 26 through 30) Enter here and on the appropriate lines of Form N-405...................................................................... 31 SCHEDULE J FORM N-40
Extracted from PDF file 2019-hawaii-form-sch-j.pdf, last modified September 2003

More about the Hawaii Form Sch. J Individual Income Tax TY 2019

We last updated the Supplemental Annuities Schedule in February 2020, so this is the latest version of Form Sch. J, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form Sch. J directly from TaxFormFinder. You can print other Hawaii tax forms here.

Related Hawaii Individual Income Tax Forms:

TaxFormFinder has an additional 164 Hawaii income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Hawaii Form Sch. J.

Form Code Form Name
Form N-40 Sch. J Trust Allocation of an Accumulation Distribution

Download all HI tax forms View all 165 Hawaii Income Tax Forms


Form Sources:

Hawaii usually releases forms for the current tax year between January and April. We last updated Hawaii Form Sch. J from the Department of Taxation in February 2020.

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About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Hawaii Form Sch. J

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


2019 Form Sch. J

Schedule J, form N-40, Rev. 2019, Trust Allocation of an Accumulation Distribution

2018 Form Sch. J

Schedule J, form N-40, Rev. 2018, Trust Allocation of an Accumulation Distribution

2017 Form Sch. J

Schedule J, form N-40, Rev. 2017, Trust Allocation of an Accumulation Distribution

2016 Form Sch. J

Schedule J, form N-40, Rev. 2016, Trust Allocation of an Accumulation Distribution

Forms 2015 2015 Form Sch. J

Schedule J, Rev. 2015

Forms 2013 2014 Form Sch. J

Schedule J, Rev. 2013

PDF Form Pack generated by formuPack 2012 Form Sch. J

PDF Form Pack

Forms 2011 - CD Fillable 2011 Form Sch. J

Schedule J, Rev. 2011


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