INSTRUCTIONS: ARIZONA RESIDENT OR PART-YEAR RESIDENT BENEFICIARY'S SHARE OF INCOME (Form 141 Schedule K-1)
From 2000 to 2002, Arizona residents or part-year residents documented their share of income from an estate or
trust by filing a form 141, schedule K-1. This form has since become form 141AZ. This article discusses form 141 Schedule K-1, which is still available on the website of the Arizona Department of Revenue.
Arizona Resident Or Part-Year Resident Beneficiary's Share Of Income 141 Schedule
K-1 Step 1: If not filing for the calendar year printed on the form, enter the beginning and ending dates of the fiscal year for which you are filing.
Arizona Resident Or Part-Year Resident Beneficiary's Share Of Income 141 Schedule K-1 Step 2: On the first blank line, enter the name of the estate or trust.
Arizona Resident Or Part-Year Resident Beneficiary's Share Of Income 141 Schedule K-1 Step 3: On the second blank line, enter the I.D. number of the beneficiary.
Arizona Resident Or Part-Year Resident Beneficiary's Share Of Income 141 Schedule K-1 Step 4: On the third blank line, enter the estate or trust I.D. number.
Arizona Resident Or Part-Year Resident Beneficiary's Share Of Income 141 Schedule K-1 Step 5: On the fourth blank line, enter the name, address and zip code of the beneficiary.
Arizona Resident Or Part-Year Resident Beneficiary's Share Of Income 141 Schedule K-1 Step 6: On the fifth blank line, enter the name, address and zip code of the trust.
Arizona Resident Or Part-Year Resident Beneficiary's Share Of Income 141 Schedule K-1 Step 7: On line 1, enter the total distributable income as documented on line 11d of Arizona form 141.
Arizona Resident Or Part-Year Resident Beneficiary's Share Of Income 141 Schedule K-1 Step 8: On line 2, enter the percentage of the beneficiary's interest.
Arizona Resident Or Part-Year Resident Beneficiary's Share Of Income 141 Schedule K-1 Step 9: Multiply line 1 by the percentage on line 2. Enter the resulting product on line 3.
Arizona Resident Or Part-Year Resident Beneficiary's Share Of Income 141 Schedule K-1 Step 10: Resident individual beneficiaries should transfer the value from line 3 to line B11 of form 141.
Arizona Resident Or Part-Year Resident Beneficiary's Share Of Income 141 Schedule K-1 Step11: Part-year residents should transfer this value to line B14 of form 140PY.