Form N-40 - Schedule K-1 - Beneficiary'S Share Of Income, Deductions, Credits, Etc. - 2015
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STATE OF HAWAII — DEPARTMENT OF TAXATION
Beneficiary’s Share of Income, Deductions, Credits, etc.
SCHEDULE K-1
(FORM N-40)
2015
(REV. 2015)
for the Calendar Year 2015, or fiscal year
beginning _________________________, 2015 and ending ______________________, 20_____
COMPLETE A SEPARATE SCHEDULE K-1 FOR EACH BENEFICIARY
Name of trust or decedent’s estate
Amended K-1
Final K-1
Beneficiary’s identifying number
Estate’s or trust’s EIN
Beneficiary’s name, address and Postal/ZIP Code
Fiduciary’s name, address, and Postal/ZIP Code
(c) Calendar year 2015 Form N-11*/N-15**
(a) Allocable share item
(b) Amount
filers enter the amounts in column (b) on:
1
Interest
Interest Worksheet (N-15)
2
Ordinary Dividends
Form N-15, line 9
3
a Net short-term capital gain
Capital Gain/Loss Worksheet, line 2 (N-15)
b Net long-term capital gain
Capital Gain/Loss Worksheet, line 10 (N-15)
4
a Annuities, royalties, and other nonpassive income before
directly apportioned deductions
Form N-15, line 17
b Depreciation
Include on applicable line of
c Depletion
appropriate tax form
d Amortization
5
a Trade or business, rental real estate, and other rental income
before directly apportioned deductions (see Instructions)
Form N-15, line 17
b Depreciation
Include on applicable line of
c Depletion
appropriate tax form
d Amortization
6
Net income taxes paid to another state or foreign country
See Instructions for Form N-11, lines 21b and 35 or Form
(list on a separate sheet)
N-15, lines 38b and 52
7
a Total cost of qualifying property for the Capital Goods Excise
Tax Credit
Form N-312
b Low-Income Housing Tax Credit
Form N-586
c High Technology Business Investment Tax Credit
Form N-318
d Tax Credit for Research Activities
Form N-346
8
Deductions in the final year of trust or decedent’s estate:
a Excess deductions on termination
Worksheet A-6, line 25 (N-11); Worksheet NR-6, line 26 (N-
(see Instructions)
15); or Worksheet PY-6, line 49 (N-15)
b Short-term capital loss carryover
Capital Gain/Loss Worksheet, line 6 (N-15)
c Long-term capital loss carryover
Capital Gain/Loss Worksheet, line 14 (N-15)
d Net operating loss (NOL) carryover
Form N-15, line 19
}
e
Include on applicable line of
f
appropriate tax form
9
Other (itemize):
a Payments of estimated tax credited to you
Form N-11, line 38; Form N-15, line 55
b Tax-exempt interest
See Instructions for Form N-11, lines 10 and 18 or
Form N-15, line 8
c
Include on applicable line of appropriate tax form
DISTRIBUTION OF INCOME NOT SUBJECT TO TAX IN HAWAII TO NONRESIDENT BENEFICIARIES — See Instructions
10
Interest
11
Dividends
Include on applicable line on
12
Other intangible income (state nature of income)
Form N-15, Column A
13
Capital gain (loss) on intangibles
*
For Form N-11 filers, if your federal Schedule K-1 (Form 1041) and Hawaii Schedule K-1 (Form N-40) amounts are different, the necessary
adjustments are to be made on the Hawaii Additions Worksheet and/or the Hawaii Subtractions Worksheet in the Form N-11 Instructions.
**
All referenced worksheets are located in the Form N-15 Instructions.
SCHEDULE K-1
FORM N-40
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