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  • Form Ftb 5870a

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Enter the amounts and the years from line 13, eliminating the highest and lowest taxable income years . . . . . . . . . . . . . . . . . . 14 Enter amount from line 12 in each column . . . . . . . . . . . . . . . . . 15 Recomputed taxable income. Add line 14 and line 15 . . . . . . . . . 16 Tax on amounts on line 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Tax before credits on line 14.

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Related content

2018 Instructions for Form FTB 5870A | FTB.ca.gov
Purpose. Use form FTB 5870A to figure the additional tax under IRC Section 667 or R&TC...
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2019 Form 540NR California Nonresident or...
May 22, 1988 — FTB 5870A. Special Credits. 54 Credit percentage. Enter the amount from...
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The IRS requires the filing of an income tax return for trusts and estates on Form 1041—formerly known as the fiduciary income tax return. This is because trusts and estates must pay income tax on their income just like you report your own income on a personal tax return each year.

Form 1041 (fiduciary tax return) is the income tax form used for estates and trusts. It is used to report INCOME in the estate or trust, including sales of property. The estate or trust exists until final distribution of its assets.

Use form FTB 5870A to figure the additional tax under IRC Section 667 or R&TC Sections 17745(b) and (d) on an accumulation distribution made by a foreign trust and certain domestic trusts in the current year.

Generally speaking, California taxes trusts based on “California income.” If the trustees and/or beneficiaries reside in California, then California will tax the proportionate income within the trust based upon the allocated income portion of the trust associated with the resident beneficiaries or trustees.

The fiduciary (or one of the fiduciaries) must file Form 541 for a trust if any of the following apply: Gross income for the taxable year of more than $10,000 (regardless of the amount of net income) Net income for the taxable year of more than $100. An alternative minimum tax liability.

Generally, a trust is subject to tax in California “if the fiduciary or beneficiary (other than a beneficiary whose interest in such trust is contingent) is a resident, regardless of the residence of the settlor.” See Cal. Rev.

The trustee may have to file a return if the trust meets any of these: The trustee or beneficiary (non-contingent) is a California resident. The trust has income from a California source. Income is distributed to a California resident beneficiary.

If the estate generates more than $600 in annual gross income, you are required to file Form 1041, U.S. Income Tax Return for Estates and Trusts. An estate may also need to pay quarterly estimated taxes.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232