Form Fid-3 - Montana Schedule K-1 - Beneficiary'S Share Of Income (Loss), Deductions, Credits, Etc. - 2011 Page 2

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Benefi ciary’s Instructions for Montana Schedule K-1
return, you need to fi le an amended Montana tax return to report the
General Instructions
changes in income, gains, losses and deductions.
The Montana Schedule K-1 is required to be provided to all
Montana Schedule K-1, Parts 3-5
benefi ciaries. Parts 1 and 2 are completed for all benefi ciaries. Parts 3
and 5 are completed for all benefi ciaries only if the benefi ciaries have
Part 3 – All Benefi ciaries – Montana Adjustments
applicable information for these parts. Part 4 applies to nonresident
benefi ciaries only.
A-B. Montana Additions or Deductions
To compute Montana income taxable to benefi ciaries, certain items have
Purpose of Montana Schedule K-1
to be added to or deducted from income reported for federal income tax
Montana Schedule K-1 shows information about your share of income,
purposes. Any amounts listed are the benefi ciary’s distributive share
gains, losses, deductions, credits and other items from an estate or trust.
of Montana additions and deductions from the corresponding lines on
If applicable, your share of “Montana source income” is listed. You may
Schedules A and B. A detailed schedule is required to be included. The
need this information to complete the appropriate Montana tax return.
form shows a partial list.
Partnership or corporation benefi ciary. If you are a corporation,
Part 4 – Nonresident Benefi ciary’s Share of Montana Source
partnership, or a limited liability company treated like a corporation or
Income (Loss)
partnership, the Montana Schedule K-1 shows your share of the estate’s
If you are a nonresident benefi ciary, you will need this information when
or trust’s Montana statutory adjustments that may affect the preparation
you fi le your Montana tax return. Corporations and pass-through entities
of your appropriate Montana tax return.
may need this information to report their Montana source income. Your
Resident individual, estate, or trust benefi ciary. If you are a Montana
share of the estate’s or trust’s distributed Montana source income, gains,
resident individual, estate, or trust, you report to Montana your entire
losses and other additions to income that you need to report on your
share of the estate’s or trust’s income, gains, losses and deductions
Montana tax return are shown.
included in your federal taxable income. The Montana Schedule
Part 5 – Supplemental Information
K-1 shows your share of the estate’s or trust’s Montana statutory
adjustments that may affect the preparation of your Montana tax return.
Montana mineral royalty tax withheld. If the estate or trust received
royalty payments subject to withholding and distributed the mineral
Nonresident individual, estate, or trust benefi ciary. If you are a
royalty tax withheld to the benefi ciary, the amount distributed to the
nonresident individual, estate, or trust, the amount of your distributed
benefi ciary is listed.
share of the estate’s or trust’s income, gains, losses and deductions
having their source in Montana is used to determine your Montana tax
Other Information. Supplemental information which could result in
liability. These items are shown in Part 4 of the Montana Schedule K-1.
adjustments to your Montana tax return are listed on this line. If all of
You need to fi le a Montana tax return to determine your tax liability for
the supplemental information could not be listed on this line, the estate
these items.
or trust should provide you with a statement showing the additional
information.
Amended Schedule K-1. If you received an amended Montana
Schedule K-1 from the fi duciary, and you previously fi led a Montana tax

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