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Iowa Fiduciary Return 63-001
Extracted from PDF file 2022-iowa-form-ia-1041.pdf, last modified October 2022Fiduciary Return 63-001
2022 IA 1041 Iowa Fiduciary Return tax.iowa.gov For Calendar Year 2022 or tax year beginning _____ /_____ , 2022, and ending ____ / ____ , 20 ____ Return Type (Check Applicable Boxes): Initial Return ☐ Final Return ☐ Amended Return (Include IA102) ☐ Section 645 Election ☐ Short Period ☐ Tax Certificate of Acquittance Requested? Yes ☐ No ☐ Is an IA 706 being filed? Yes ☐ No ☐ Entity Type (Mark all that apply): Estate ☐ Grantor Trust ☐ Simple Trust ☐ Complex Trust ☐ Bankruptcy Estate ☐ Burial Trust Fund ☐ If a trust, check one: Residency Status: Testamentary ☐ Resident ☐ Inter Vivos ☐ Nonresident ☐ Part-year resident ☐ Name of estate or trust: _________________________________________ FEIN: ______________________ Name and title of fiduciary: ______________________________________ Decedent’s SSN: _____________ Address of fiduciary (city, state, zip): ___________________________________________________________ Iowa County in which estate is pending: _________ Probate number: _________ Date of Death: ___________ Composite Return Requirement - Does the trust or estate have any of the following in the tax year? 1. A nonresident individual as a beneficiary? .................................................................... Yes ☐ No ☐ 2. An estate or trust without a situs in Iowa as a beneficiary? .......................................... Yes ☐ No ☐ 3. A C or S corporation without a commercial domicile in Iowa as a beneficiary? ............ Yes ☐ No ☐ 4. A partnership without a commercial domicile in Iowa as a beneficiary? ....................... Yes ☐ No ☐ 5. A composite credit received from another entity on an Iowa K-1? ................................ Yes ☐ No ☐ If you answered yes to any of “1” through “5”, you may have a composite return requirement, see instructions. 63-001a (10/10/2022) 2022 IA 1041, page 2 Name of estate or trust: _________________________________________ FEIN: ______________________ 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: __________________________________________________________ ID Type, check one: SSN/ITIN ☐ PTIN ☐ IAN ☐ Phone: ___________________________________________ 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: __________________________________________________________ ID Type, check one: SSN/ITIN ☐ PTIN ☐ IAN ☐ Phone: ___________________________________________ Email: _________________________________ Address: ________________________________________________________________________________ City: _____________________________________________ State: _______________ Zip: ______________ 63-001b (10/10/2022) 2022 IA 1041, page 3 Name of estate or trust: _________________________________________ FEIN: ______________________ 1. Interest income ........................................................................................................... 1. ______________ 2. Ordinary dividends ..................................................................................................... 2. ______________ 3. Business income ........................................................................................................ 3. ______________ 4. Capital gain or (loss) .................................................................................................. 4. ______________ 5. Rents, royalties, partnerships, other estate and trusts, etc. ....................................... 5. ______________ 6. Farm income or (loss) ................................................................................................ 6. ______________ 7. Ordinary gain or (loss) ................................................................................................ 7. ______________ 8. Other income. List type .............................................................................................. 8. ______________ 9. Total federal income. Add lines 1 through 8. .............................................................. 9. ______________ 10. Interest ..................................................................................................................... 10. ______________ 11. Taxes ........................................................................................................................ 11. ______________ 12. Fiduciary fees ........................................................................................................... 12. ______________ 13. Charitable deduction ................................................................................................ 13. ______________ 14. Attorney, accountant, and return preparer fees ........................................................ 14. ______________ 15. Other deductions ...................................................................................................... 15. ______________ 16. Net operating loss (NOL) deduction (see instructions) ............................................. 16. ______________ 17. Total federal deductions. Add lines 10 through 16 ................................................... 17. ______________ 18. Federal adjusted total income or (loss). Subtract line 17 from line 9........................ 18. ______________ 19. Iowa net modification from Schedule A, Part II, line 8 .............................................. 19. ______________ 20. Iowa adjusted total income or (loss). Add lines 18 and 19 ....................................... 20. ______________ 21. Iowa income distribution deduction from Schedule B, line 15, but not less than 0 ... 21. ______________ 22. Qualified business income deduction ....................................................................... 22. ______________ 23. RESERVED FOR FUTURE USE ............................................................................. 23. ______________ 24. RESERVED FOR FUTURE USE ............................................................................. 24. ______________ 25. Iowa taxable income. Subtract lines 21, 22, 23 and 24 from line 20 ........................ 25. ______________ 26. Tax from tax table. If line 25 is zero or less, enter 0 ................................................. 26. ______________ 27. IA 103 tax. Enter the amount from the IA 103, line 26.............................................. 27. ______________ 28. Iowa lump sum tax. Include federal Schedule 4972 ................................................. 28. ______________ 29. Iowa alternative minimum tax. Include IA 1041 Schedule D .................................... 29. ______________ 30. Tax on the ESBT portion of the trust from Schedule E............................................. 30. ______________ 31. Tax before credits. Add lines 26 through 30 ............................................................. 31. ______________ 32. Personal exemption. Enter $40 or the amount on line 31, whichever is smaller ...... 32. ______________ 33. Nonresident, part-year resident tax credit, Schedule C, line 30 ............................... 33. ______________ 34. Balance. Subtract lines 32 and 33 from line 31 ........................................................ 34. ______________ 35. Out of State tax credit. Include IA 130 ...................................................................... 35. ______________ 36. Balance. Subtract line 35 from line 34 ...................................................................... 36. ______________ 63-001c (10/26/2022) 2022 IA 1041, page 4 Name of estate or trust: _________________________________________ FEIN: ______________________ 37. Other nonrefundable tax credits. Include IA 148 ...................................................... 37. ______________ 38. Total fiduciary tax. Subtract line 37 from line 36....................................................... 38. ______________ 39. Income tax withheld. Include federal form(s) 1099 or supporting documentation .... 39. ______________ 40. Estimated taxes paid to date .................................................................................... 40. ______________ 41. Composite return credit. Include Iowa Schedule CC ................................................ 41. ______________ 42. Motor fuel tax credit. Include IA 4136 ....................................................................... 42. ______________ 43. Other refundable credits. Include IA 148 .................................................................. 43. ______________ 44. Total refundable credits. Add lines 39 through 43 .................................................... 44. ______________ 45. Tax Liability. If line 44 is smaller than line 38, enter the difference .......................... 45. ______________ 46. Refund. If line 44 is greater than line 38, enter the difference .................................. 46. ______________ 47. Penalty and interest ... Penalty _______ Interest ______ Add. Enter total ............. 47. ______________ 48. Amount due: Add lines 45 and 47. Submit with form IA 1041V ................................ 48. ______________ 63-001d (10/10/2022) 2022 IA 1041, page 5 Name of estate or trust: _________________________________________ FEIN: ______________________ Schedule A: Iowa Modifications Part I: Modifications to Federal Taxable Income – Additions 1. Interest from foreign securities and state municipal securities ......................................... 1. ______________ 2. Dividends not included in federal income ......................................................................... 2. ______________ 3. Taxable federal refund ..................................................................................................... 3. ______________ 4. Other income .................................................................................................................... 4. ______________ 5. Total additions (Add lines 1 through 4)............................................................................. 5. ______________ Part II: Modifications to Federal Taxable Income – Subtractions 1. Taxable interest income received from federal obligations .............................................. 1. ______________ 2. Dividend income received from federal obligations .......................................................... 2. ______________ 3. Iowa tax refund included on federal 1041, line 8 .............................................................. 3. ______________ 4. Federal income tax paid ................................................................................................... 4. ______________ 5. Administrative expenses allowed for estate tax purposes................................................ 5. ______________ 6. Other deductions .............................................................................................................. 6. ______________ 7. Total subtractions (Add lines 1 through 6)........................................................................ 7. ______________ 8. Net modification (Subtract Part II, line 7 from Part I, line 5) ........................................... 8. ______________ Enter this amount on page 3, line 19. 63-001e (10/10/2022) 2022 IA 1041, page 6 Name of estate or trust: _________________________________________ FEIN: ______________________ Schedule B: Iowa Distributable Net Income: 1. Iowa adjusted total income or (loss) from IA 1041, line 20 ......................................... 1. ______________ If Iowa adjusted total income and the total from IA 1041, line 4 are losses, use the smaller loss. 2. Adjusted tax-exempt income ...................................................................................... 2. ______________ 3. Enter the amount from federal form 1041, Schedule B, line 3.................................... 3. ______________ 4. Enter the amount from federal form 1041, Schedule B, line 4.................................... 4. ______________ 5. Enter the amount from federal form 1041, Schedule B, line 5.................................... 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 .......... 6. ______________ 7. Combine lines 1 through 6. If zero or less, enter 0. This is your Iowa distributable net income .................................................................................................................. 7. ______________ 8. If a complex trust, enter the accounting income for the tax year as determined under the governing instrument .................................................................................. 8. ______________ 9. Income required to be distributed currently ................................................................ 9. ______________ 10. Other amounts paid, credited, or otherwise required to be distributed ..................... 10. ______________ 11. Add lines 9 and 10. This is your actual total distributions for the year...................... 11. ______________ 12. Tax exempt income included in actual distributions included on IA 1041, line 18 .... 12. ______________ 13. Subtract line 12 from line 11. This is your tentative income distribution deduction based on actual distributions .................................................................................... 13. ______________ 14. Subtract line 2 from line 7. This is your tentative income distribution deduction....... 14. ______________ 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 ................................. 15. ______________ 63-001f (02/09/2023) 2022 IA 1041, page 7 Name of estate or trust: _________________________________________ FEIN: ______________________ Schedule C: Computation of Nonresident/Part-Year Resident Tax Credit Moved into Iowa ☐ Moved out of Iowa ☐ Date of change in residency: _________ Column A All Source Income from IA 1041 Column B Iowa Source 1. Interest income ..............................................................................1. _____________ ______________ 2. Ordinary dividends. .......................................................................2. _____________ ______________ 3. Business income ...........................................................................3. _____________ ______________ 4. Capital gain or loss ........................................................................4. _____________ ______________ 5. Rents, royalties, partnerships, other estates and trusts, etc .........5. _____________ ______________ 6. Farm income or (loss) ...................................................................6. _____________ ______________ 7. Ordinary gain or (loss) ...................................................................7. _____________ ______________ 8. Other income .................................................................................8. _____________ ______________ 9. Total income. Add lines 1 through 8 ..............................................9. _____________ ______________ 10. Interest ........................................................................................10. _____________ ______________ 11. Taxes...........................................................................................11. _____________ ______________ 12. Fiduciary fees ..............................................................................12. _____________ ______________ 13. Charitable deduction ...................................................................13. _____________ ______________ 14. Attorney, accountant, and return preparer fees ...........................14. _____________ ______________ 15. Other deductions .........................................................................15. _____________ ______________ 16. NOL deduction ............................................................................16. _____________ ______________ 17. Total deductions. Add lines 10 through 16. .................................17. _____________ ______________ 18. Modifications from IA 1041 Schedule A, Part II, line 8 ................18. _____________ ______________ 19. Balance. Subtract line 17 from line 9, then add line 18 ...............19. _____________ ______________ 20. Distribution to beneficiaries .........................................................20. _____________ ______________ 21. Qualified business income deduction ..........................................21. _____________ ______________ 22. RESERVED FOR FUTURE USE ................................................22. _____________ ______________ 23. Total. Add lines 20 through 22 ....................................................23. _____________ ______________ 24. Taxable income of fiduciary. Subtract line 23 from line 19 ..........24. _____________ ______________ 25. Iowa income percentage. Divide column B, line 24 by column A, line 24 and enter percentage rounded to nearest tenth of a percent. This cannot exceed 100.0% ...................................................................... 25. ______________ 26. Nonresident credit percentage. Subtract line 25 from 100.0% ....................................... 26. ______________ 27. Iowa tax on total income from IA 1041, line 26 .............................................................. 27. ______________ 28. Personal exemption credit from IA 1041, line 32............................................................ 28. ______________ 29. Tax after credits. Subtract line 28 from line 27 ............................................................... 29. ______________ 30. Nonresident tax credit. Multiply line 29 by line 26 Also enter this amount on IA 1041, line 33..................................................................... 30. ______________ 63-001g (10/17/2022) 2022 IA 1041, page 8 Name of estate or trust: _________________________________________ FEIN: ______________________ Schedule D: Iowa Alternative Minimum Tax – Estates and Trusts Part I – Iowa Adjustments and Preferences. See Instructions 1. Interest from federal Schedule I (Form 1041)............................................................. 1. ______________ 2. Taxes from IA 1041 line 11, less federal income tax .................................................. 2. ______________ 3. Refund of taxes (exclude Iowa income tax)................................................................ 3. ______________ 4. Qualified small business stock ................................................................................... 4. ______________ 5. Exercise of incentive stock options (excess of AMT income over regular income tax) ...................................................... 5. ______________ 6. Other estates and trusts, amount from federal Schedule K-1(form 1041) .................. 6. ______________ 7. Disposition of property (difference between AMT and regular gain or loss) ............... 7. ______________ 8. Depreciation on assets placed in service after 1986 (difference between regular tax and AMT) ................................................................. 8. ______________ 9. Passive activities (difference between AMT and regular tax income or loss)............. 9. ______________ 10. Loss limitations (difference between AMT and regular tax income or loss) ............. 10. ______________ 11. Circulation costs (difference between regular tax and AMT) .................................... 11. ______________ 12. Long-term contracts (difference between AMT and regular tax income).................. 12. ______________ 13. Mining costs (difference between regular tax and AMT) .......................................... 13. ______________ 14. Research and experimental costs (difference between regular tax and AMT) ......... 14. ______________ 15. Income from certain installment sales before January 1, 1987 ................................ 15. ______________ 16. Other adjustments, including income-based related adjustments ............................ 16. ______________ 17. Total Adjustments and preferences. Add lines 1 through 16 .................................... 17. ______________ Part II - Iowa Alternative Minimum Taxable Income 18. Taxable income from IA 1041, line 25 ...................................................................... 18. ______________ 19. NOL deduction. Do not enter as negative amount ................................................... 19. ______________ 20. Add lines 17, 18, and 19 ........................................................................................... 20. ______________ 21. Iowa alternative minimum tax NOL deduction. See instructions .............................. 21. ______________ 22. Iowa alternative minimum taxable income. Subtract line 21 from line 20 ................. 22. ______________ Part III - Iowa Exemption Amount and Iowa Alternative Minimum Tax 23. Subtract $75,000 from line 22. If zero or less, enter zero......................................... 23. ______________ 24. Multiply line 23 by 25% (.25) .................................................................................... 24. ______________ 25. Subtract line 24 from $17,500. If zero or less, enter zero......................................... 25. ______________ 26. Subtract line 25 from line 22. If zero or less, enter zero ........................................... 26. ______________ 27. Tentative Iowa alternative minimum tax. Multiply line 26 by 6.4% (.064) ................. 27. ______________ 28. Regular tax less exemption credit. Enter IA 1041, line 26, less $40. If zero or less, enter zero .......................................................................................... 28. ______________ 29. Iowa alternative minimum tax. Subtract line 28 from line 27; enter here and on IA 1041, line 29. If zero or less, enter zero. See instructions for Iowa alternative minimum tax limited to net worth .............................................................................. 29. ______________ Part IV - Nonresidents Only – Complete lines 30-33 30. Enter Iowa taxable income plus Iowa adjustments and preferences. If zero or less enter zero. See instructions ............................................................... 30. ______________ 31. Total taxable income plus total adjustments and preferences. If zero or less enter zero. See instructions ............................................................... 31. ______________ 32. Divide line 30 by line 31 and enter the result to three decimal places. If greater than one, enter one. See instructions ....................................................... 32. ______________ 33. Iowa alternative minimum tax. Multiply line 29 by line 32. Enter here and on IA 1041, line 29. See instructions ............................................... 33. ______________ 63-001i (10/10/2022) 2022 IA 1041, page 9 Name of estate or trust: _________________________________________ FEIN: ______________________ Schedule E: Electing Small Business Trust (ESBT) Tax Computation 1. Total federal adjusted ESBT income .......................................................................... 1. _____________ 2. Iowa additions to ESBT income (include statement) .................................................. 2. _____________ 3. Iowa deductions to ESBT income (include statement) ............................................... 3. _____________ 4. Iowa taxable ESBT income. Add lines 1 and 2, then subtract line 3 .......................... 4. _____________ 5. Tax from tax tables. Residents enter here and on IA 1041, line 30............................ 5. _____________ Nonresidents and part-year residents continue to line 6 Nonresident and part-year resident trusts/estates 6. Iowa source income ................................................................................................... 6. _____________ 7. Divide line 6 by line 4 (round to two decimal places).................................................. 7. _____________ 8. Nonresident or part-year resident trust/estates. Multiply line 7 by line 5. Report this amount on lA 1041, line 30 ...................................................................... 8. _____________ Mail to: Fiduciary Return Processing Iowa Department of Revenue PO Box 10467 Des Moines, IA 50306-0467. When you pay by check, you authorize the Department of Revenue to convert your check to a one time electronic banking transaction. Sign Here 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. Signature of fiduciary or officer representing fiduciary: _________________________________________________________ Date: ________________________ Signature of preparer other than fiduciary: _________________________________________________________ Date: ________________________ Preparer PTIN: ____________ Address: _______________________________________________________ 63-001j (11/07/2022)
IA1041 Fidicuary Income Tax Return (63001)
More about the Iowa Form IA 1041 Corporate Income Tax Tax Return TY 2022
We last updated the Fiduciary Return 63-001 in February 2023, so this is the latest version of Form IA 1041, fully updated for tax year 2022. 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.
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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 1041 Instructions | Fiduciary Tax Return Instructions 63-002 |
| Form IA 1041V | Iowa Fiduciary Income Tax Payment Voucher |
| IA 1041-C | Schedule C Computation of Nonresident's Tax Credit |
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 February 2023.
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 twelve 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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