Get Form Cift-401w Schedule - Louisiana Department Of Revenue - Revenue La

This guide provides clear, step-by-step instructions on filling out the Form CIFT-401W Schedule for the Louisiana Department of Revenue. Whether you are a new user or looking to refresh your understanding, this resource is designed to assist you in completing the form accurately and efficiently.

Follow the steps to successfully complete the Form CIFT-401W Schedule

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Print your Louisiana Revenue Account Number in the designated space provided at the top of the form.
3. Fill in your name as it appears on the CIFT-620 form.
4. Specify the income tax period that is covered by this report.
5. For unrelated business income, complete Lines 1 and 2 by referencing your figures from the Federal Form 990-T. Ensure you print the correct amounts as follows: Line 1 for federal net unrelated business taxable income and Line 2 for Louisiana net unrelated business taxable income.
6. Complete Lines 3 to 5 to determine the federal income tax deduction. Record the federal income tax liability on Line 3 and calculate the ratio for Line 4 by dividing Line 2 by Line 1.
7. For Line 5, multiply the federal income tax liability by the ratio from Line 4 and print the result.
8. Subtract Line 5 from Line 2 to determine the Louisiana taxable income for Line 6.
9. Follow the Form CIFT-620 instructions for completing Line 7 and record the amount here.
10. Attach Schedules P and Q, as well as this worksheet, to your completed Form CIFT-620.
11. Finally, review all entries for accuracy and proceed to save changes, download, print, or share the completed form as needed.

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