-
TIN:
Form
990-T
List of Attached Documents:
// Content
Department of the Treasury
Internal Revenue Service
Exempt Organization Business Income Tax Return
(and proxy tax under section 6033(e))
For calendar year 2023 or other tax year beginning
07-01-2023
and ending
06-30-2024
Go to
www.irs.gov/Form990T
for instructions and the latest information.
Do not enter SSN numbers on this form as it may be made public if your organization is a 501(c)(3).
OMB No. 1545-0047
20
23
Open to Public Inspection for 501(c)(3) Organizations Only
A
Check box if address changed.
B
Exempt under section
501(
c3
)
408(e)
220(e)
408A
530(a)
529(a)
529A
Print or Type
Name of organization (
Check box if name changed and see instructions.)
THE J PAUL GETTY TRUST
Number, street, and room or suite no. If a P.O. box, see instructions.
1200 GETTY CENTER DRIVE 401
City or town, state or province, and ZIP or foreign postal code
LOS ANGELES
,
CA
90049
C
Book value of all assets at end of year
.....
12,953,287,350
D
Employer identification number
95-1790021
E
Group exemption number
(see instructions)
F
Check box if an amended return.
G
Check organization type
501(c) corporation
501(c) trust
401(a) trust
Other trust
State college/university
6417(d)(1)(A) Applicable entity
H
Check if filing only to claim
Credit from Form 8941
Refund shown on Form 2439
Elective payment amount from Form 3800
I
Check if a 501(c)(3) organization filing a consolidated return with a 501(c)(2) titleholding corporation
.........
J
Enter the number of attached Schedules A (Form 990-T)
...............
6
K
During the tax year, was the corporation a subsidiary in an affiliated group or a parent-subsidiary controlled group?
...
Yes
No
If "Yes," enter the name and identifying number of the parent corporation
L
The books are in care of
WILLIAM G HUMPHRIES
1200 GETTY CENTER DRIVE 401
LOS ANGELES
,
CA
900491642
Telephone number
(310) 440-6040
Part I
Total Unrelated Business Taxable Income
1
Total of unrelated business taxable income computed from all unrelated trades or businesses (see instructions)
..............................
1
18,720,447
2
Reserved
..............................
2
3
Add lines 1 and 2
............................
3
18,720,447
4
Charitable contributions (see instructions for limitation rules)
..............
4
3,743,043
5
Total unrelated business taxable income before net operating losses. Subtract line 4 from line 3
....
5
14,977,404
6
Deduction for net operating loss. See instructions
List of Attached Documents:
// Content
.................
6
11,233,361
7
Total of unrelated business taxable income before specific deduction and section 199A deduction.
Subtract line 6 from line 5
.........................
7
3,744,043
8
Specific deduction (generally $1,000, but see instructions for exceptions)
..........
8
1,000
9
Trusts.
Section 199A deduction. See instructions
.................
9
10
Total deductions.
Add lines 8 and 9
......................
10
1,000
11
Unrelated business taxable income.
Subtract line 10 from line 7. If line 10 is greater than line 7, enter zero
................................
11
3,743,043
Part II
Tax Computation
1
Organizations taxable as corporations.
Multiply Part I, line 11 by 21% (0.21)
.......
1
2
Trusts taxable at trust rates.
See instructions for tax computation. Income tax on the amount on
Part I, line 11 from:
Tax rate schedule or
Schedule D (Form 1041)
List of Attached Documents:
// Content
........
2
747,427
3
Proxy tax.
See instructions
.......................
3
4
Other tax amounts. See instructions
....................
4
5
Alternative minimum tax
List of Attached Documents:
// Content
.........................
5
10,370,687
6
Tax on noncompliant facility income.
See instructions
................
6
7
Total.
Add lines 3 through 6 to line 1 or 2, whichever applies
...............
7
11,118,114
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11291J
Form
990-T
(2023)
Form 990-T (2023)
Page
2
Part III
Tax and Payments
1a
Foreign tax credit (corporations attach Form 1118; trusts attach Form 1116)
1a
List of Attached Documents:
// Content
5,008
b
Other credits (see instructions)
..............
1b
c
General business credit. Attach Form 3800 (see instructions)
.....
1c
List of Attached Documents:
// Content
257,880
d
Credit for prior year minimum tax (attach Form 8801 or 8827)
....
1d
e
Total credits.
Add lines 1a through 1d
.....................
1e
262,888
2
Subtract line 1e from Part II, line 7
.......................
2
10,855,226
3a
Amount due from Form 4255
...............
3a
b
Amount due from Form 8611
...............
3b
c
Amount due from Form 8697
...............
3c
d
Amount due from Form 8866
...............
3d
e
Other amounts due (see instructions)
............
3e
f
Total credits.
Add lines 3a through 3e
.....................
3f
262,888
4
Total tax.
Add lines 2 and 3f (see instructions).
Check if includes tax previously deferred under
section 1294. Enter the tax amount here
4
10,855,226
5
Current net 965 tax liability paid from Form 965-A, Part II, column (k)
...........
5
0
6a
Payments: Preceding year's overpayment credited to the current year
..
6a
6,626,870
b
Current Year's estimated tax payments. Check if section 643(g) election applies
6b
6,600,000
c
Tax deposited with Form 8868
..............
6c
d
Foreign organizations: Tax paid or withheld at source (see instructions)
.
6d
e
Backup withholding (see instructions)
............
6e
8,500
f
Credit for small employer health insurance premiums (attach Form 8941)
.
6f
g
Elective payment election amount from Form 3800
........
6g
h
Payment from Form 2439
................
6h
i
Credit from Form 4136
.................
6i
j
Other (see instructions)
................
6j
7
Total payments.
Add lines 6a through 6j
.....................
7
16,124,535
8
Estimated tax penalty (see instructions). Check if Form 2220 is attached
List of Attached Documents:
// Content
........
8
9
Tax due.
If line 7 is smaller than the total of lines 4, 5, and 8, enter amount owed
.......
9
10
Overpayment.
If line 7 is larger than the total of lines 4, 5, and 8, enter amount overpaid
....
10
5,269,309
11
Enter the amount of line 10 you want:
Credited to 2024 estimated tax
5,269,309
Refunded
11
0
Part IV
Statements Regarding Certain Activities and Other Information
(see instructions)
1
At any time during the 2023 calendar year, did the organization have an interest in or a signature or other authority over a financial account (bank, securities, or other) in a foreign country? If "Yes," the organization may have to file FinCEN Form 114, Report of Foreign Bank and Financial Accounts. If "Yes," enter the name of the foreign country here
CA
KS
LU
UK
Yes
No
Yes
2
During the tax year, did the organization receive a distribution from, or was it the grantor of, or transferor to, a foreign trust?
No
If "Yes," see instructions for other forms the organization may have to file.
3
Enter the amount of tax-exempt interest received or accrued during the tax year
.....
$
4
Enter available pre-2018 NOL carryovers here. $
11,233,361
. Do not include any post-2017 NOL carryover shown on Schedule A (Form 990-T). Don't reduce the NOL carryover shown here by any deduction reported on Part I, line 4.
5
Post-2017 NOL carryovers. Enter the Business Activity Code and available post-2017 NOL carryovers. Don't reduce the amounts shown below by any NOL claimed on any Schedule A, Part II, line 17 for the tax year. See instructions.
Business activity code
Available post-2017 NOL carryover
901101
$
37,371,916
450000
$
2,403,933
210000
$
5,659,704
520000
$
3,016,469
6a
Reserved for future use
.................................
b
Reserved for future use
.................................
Part V
Supplemental Information
Provide any additional information. See instructions.
Part Number
Line Number
Explanation
Amount
III
6E
BACK-UP WITHHOLDINGTHE TRUST HAD BACK-UP WITHHOLDING APPLIED AGAINST PARTNERSHIP INCOME WHERE IT IS CLAIMING A REFUND:ARCLIGHT ENERGY PARTNERS FUND V, LP 80-0334664 $1,338EVERSIDE FUND III, LP 87-2300520 $94HHLR FUND, LP 98-0500169 $5,619KAYNE ANDERSON ENERGY FUND VI, LP 38-3865939 $2NGP NATURAL RESOURCES XI, LP 47-1245315 $1,447------------------------------------------TOTAL $8,500
I
6
PRE 2018 NOL SCHEDULEIN ACCORDANCE WITH REV. RUL. 81-88 AND REV. RUL. 82-49, THE TAXPAYER IS RESTATING ITS PRIOR YEAR NOL CARRYFORWARD SCHEDULE TO ACCOUNT FOR TWO FORMS 8986, PARTNER'S SHARE OF ADJUSTMENT(S) TO PARTNERSHIP-RELATED ITEMS, THAT AFFECTED THE NET OPERATING LOSS FOR THE TAX YEARS. TAXPAYER'S 2021 FORM 990-T FOR ITS FISCAL YEAR ENDING JUNE 30, 2022. ITS PRE 2018 NET OPERATING LOSS WAS OVER APPLIED BY $11,233,361 DUE TO ITS OVERSTATED UNRELATED BUSINESS TAXABLE INCOME. THE NOL CARRYFORWARD HAS BEEN ADDED BACK TO REFLECT THOSE CHANGES.PRE 2018 AS PREVIOUSLY REPORTED $0ADJUSTMENT RECEIVED IN 2023, EIN 82-2883287 $6,281,368ADJUSTMENT RECEIVED IN 2023, EIN 82-1494373 $4,951,993-------------------------------------------------------------------ADJUSTED TOTAL PRE 2018 NET OPERATING LOSS $11,233,361AN ADDITIONAL $11,233,361 WAS ADDED BACK TO THE PRE 2018 NOL
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Signature of officer
Date
Title
May the IRS discuss this return with the preparer shown below (see instructions)?
Yes
No
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
Check
if
self-employed
PTIN
Firm's name
Firm's EIN
Firm's address
Phone no.
Form
990-T
(2023)
Additional Data
Software ID:
Software Version:
-
TIN:
SCHEDULE A
(Form 990-T)
Department of the Treasury
Internal Revenue Service
Unrelated Business Taxable Income
From an Unrelated Trade or Business
Go to
www.irs.gov/Form990T
for instructions and the latest information.
Do not enter SSN numbers on this form as it may be made public if your organization is a 501(c)(3).
OMB No. 1545-0047
20
22
Open to Public Inspection for 501(c)(3) Organizations Only
A
Name of the organization
THE J PAUL GETTY TRUST
B
Employer identification number
95-1790021
C
Unrelated business activity code (see instructions)
901101
D
Sequence:
1
of
6
E
Describe the unrelated trade or business
QUALIFYING PARTNERSHIP INVESTMENTS
Part I
Unrelated Trade or Business Income
(A) Income
(B) Expenses
(C) Net
1a
Gross receipts or sales
3,721,846
b
Less returns and allowances
c
Balance
1c
3,721,846
2
Cost of goods sold (Part III, line 8)
.........
2
1,623,305
3
Gross profit. Subtract line 2 from line 1c
.......
3
2,098,541
2,098,541
4a
Capital gain net income (attach Sch D (Form 1041 or Form
1120)) (see instructions)
............
4a
List of Attached Documents:
// Content
14,279,687
14,279,687
b
Net gain (loss) (Form 4797) (attach Form 4797)
(see instructions)
4b
List of Attached Documents:
// Content
1,288,458
1,288,458
c
Capital loss deduction for trusts
4c
5
Income (loss) from a partnership or an S corporation (attach statement)
................
5
List of Attached Documents:
// Content
40,516,539
40,516,539
6
Rent income (Part IV)
.............
6
0
0
7
Unrelated debt-financed income (Part V)
.......
7
0
0
8
Interest, annuities, royalties, and rents from a controlled
organization (Part VI)
.............
8
0
0
9
Investment income of section 501(c)(7), (9), or (17)
organizations (Part VII)
............
9
0
0
10
Exploited exempt activity income (Part VIII)
......
10
11
Advertising income (Part IX)
...........
11
0
0
12
Other income (see instructions; attach statement)
....
12
List of Attached Documents:
// Content
213,445
213,445
13
Total.
Combine lines 3 through 12
.........
13
56,298,129
0
56,298,129
Part II
Deductions Not Taken Elsewhere
(See instructions for limitations on deductions) Deductions must be directly connected with the unrelated business income
1
Compensation of officers, directors, and trustees (Part X)
.................
1
1,373,473
2
Salaries and wages
............................
2
441,223
3
Repairs and maintenance
..........................
3
11
4
Bad debts
...............................
4
2,073
5
Interest (attach statement) (see instructions)
...................
5
6
Taxes and licenses
.............................
6
9,887
7
Depreciation (attach Form 4562) (see instructions)
.........
7
8
Less depreciation claimed in Part III and elsewhere on return
.....
8a
8b
9
Depletion
...............................
9
5,901,844
10
Contributions to deferred compensation plans
.....................
10
11
Employee benefit programs
..........................
11
541,046
12
Excess exempt expenses (Part VIII)
.......................
12
13
Excess readership costs (Part IX)
........................
13
0
14
Other deductions (attach statement)
List of Attached Documents:
// Content
......................
14
13,057
15
Total deductions.
Add lines 1 through 14
.....................
15
8,280,530
16
Unrelated business income before net operating loss deduction. Subtract line 15 from Part I, line 13, column (C)
16
48,017,599
17
Deduction for net operating loss (see instructions)
List of Attached Documents:
// Content
..................
17
29,547,633
18
Unrelated business taxable income.
Subtract line 17 from line 16
.............
18
18,469,966
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 74036O
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
2
Part III
Cost of Goods Sold
Enter method of inventory valuation
1
Inventory at beginning of year
........................
1
484,377
2
Purchases
...............................
2
1,782,078
3
Cost of labor
..............................
3
0
4
Additional section 263A costs (attach statement)
..................
4
0
5
Other costs (attach statement)
........................
5
0
6
Total.
Add lines 1 through 5
..........................
6
2,266,455
7
Inventory at end of year
...........................
7
643,150
8
Cost of goods sold.
Subtract line 7 from line 6. Enter here and in Part I, line 2
..........
8
1,623,305
9
Do the rules of section 263A (with respect to property produced or acquired for resale) apply to the organization?
Yes
No
Part IV
Rent Income (From Real Property and Personal Property Leased with Real Property)
1
Description of property (property street address, city, state, ZIP code). Check if a dual-use (see instructions)
A
B
C
D
A
B
C
D
2
Rent received or accrued
a
From personal property (if the percentage of rent for personal property is more than 10% but not more than 50%)
......
b
From real and personal property (if the percentage of rent for personal property exceeds 50% or if the rent is based on profit or income)
..........
c
Total rents received or accrued by property. Add lines 2a and 2b, columns A through D
.
3
Total rents received or accrued. Add line 2c columns A through D. Enter here and on Part I, line 6, column (A)
.
0
4
Deductions directly connected with the income in lines 2(a) and 2(b) (attach statement)
.
5
Total deductions.
Add line 4 columns A through D. Enter here and on Part I, line 6, column (B)
.....
0
Part V
Unrelated Debt-Financed Income
(see instructions)
1
Description of debt-financed property (street address, city, state, ZIP code). Check if a dual-use (see instructions)
A
B
C
D
A
B
C
D
2
Gross income from or allocable to debt-financed property
........
3
Deductions directly connected with or allocable to debt-financed property
a
Straight line depreciation (attach statement)
b
Other deductions (attach statement)
...
c
Total deductions (add lines 3a and 3b, columns A through D)
..........
4
Amount of average acquisition debt on or allocable to debt-financed property (attach statement)
...........
5
Average adjusted basis of or allocable to debt-financed property (attach statement)
...
6
Divide line 4 by line 5
.......
%
%
%
%
7
Gross income reportable. Multiply line 2 by line 6
8
Total gross income
(add line 7, columns A through D). Enter here and on Part I, line 7, column (A)
....
0
9
Allocable deductions. Multiply line 3c by line 6
10
Total allocable deductions.
Add line 9, columns A through D. Enter here and on Part I, line 7, column (B)
..
0
11
Total dividends-received deductions
included in line 10
.................
0
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
3
Part VI
Interest, Annuities, Royalties, and Rents from Controlled Organizations
(see instructions)
1.
Name of controlled organization
2.
Employer identification number
Exempt Controlled Organizations
3.
Net unrelated income (loss)
(see instructions)
4.
Total of specified payments made
5.
Part of column 4 that is included
in the controlling organization's
gross income
6.
Deductions directly connected with income in column 5
(1)
(2)
(3)
(4)
Nonexempt Controlled Organizations
7.
Taxable income
8.
Net unrelated
income (loss)
(see instructions)
9.
Total of specified payments made
10.
Part of column 9
that is included in the
controlling organization's
gross income
11.
Deductions directly connected with
income in column 10
(1)
(2)
(3)
(4)
Add columns 5 and 10.
Enter here and on Part I,
line 8, column (A)
Add columns 6 and 11.
Enter here and on Part I,
line 8, column (B)
Totals
.........................
0
0
Part VII
Investment Income of a Section 501(c)(7), (9), or (17) Organization
(see instructions)
1.
Description of income
2.
Amount of income
3.
Deductions directly connected
(attach statement)
4.
Set-asides
(attach statement)
5. Total deductions and set-asides
(add columns 3 and 4)
(1)
(2)
(3)
(4)
Totals
.........
Add amounts in column 2.
Enter here and on Part I,
line 9, column (A)
0
Add amounts in column 5.
Enter here and on Part I,
line 9, column (B)
0
Part VIII
Exploited Exempt Activity Income, Other Than Advertising Income
(see instructions)
1
Description of exploited activity:
2
Gross unrelated business income from trade or business. Enter here and on Part I, line 10, column (A)
...
2
3
Expenses directly connected with production of unrelated business income. Enter here and on Part I, line 10, column (B)
...............................
3
4
Net income (loss) from unrelated trade or business. Subtract line 3 from line 2. If a gain, complete
lines 5 through 7
.............................
4
5
Gross income from activity that is not unrelated business income
..............
5
6
Expenses attributable to income entered on line 5
...................
6
7
Excess exempt expenses. Subtract line 5 from line 6, but do not enter more than the amount on line 4. Enter here and on Part II, line 12
..........................
7
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
4
Part IX
Advertising Income
1
Name(s) of periodical(s). Check box if reporting two or more periodicals on a consolidated basis.
A
B
C
D
Enter amounts for each periodical listed above in the corresponding column.
A
B
C
D
2
Gross advertising income
......
a
Add columns A through D. Enter here and on Part I, line 11, column (A)
.............
0
3
Direct Advertising costs by periodical
..
a
Add columns A through D. Enter here and on Part I, line 11, column (B)
.............
0
4
Advertising gain (loss). Subtract line 3 from line 2. For any column in line 4 showing a gain, complete lines 5 through 8. For any column in line 4 showing a loss or zero, do not complete lines 5 through 7, and enter zero on line 8
............
5
Readership costs
........
6
Circulation income
........
7
Excess readership costs. If line 6 is less than line 5, subtract line 6 from line 5. If line 5 is less than line 6, enter zero
.....
8
Excess readership costs allowed as a deduction. For each column showing a gain on line 4, enter the lesser of line 4 or line 7
.
a
Add line 8, columns A through D. Enter the greater of the columns total or zero here and on Part II, line 13
..
0
Part X
Compensation of Officers, Directors, and Trustees
(see instructions)
1.
Name
2.
Title
3.
Percentage
of time devoted
to business
4.
Compensation
attributable to
unrelated business
(1)
WILLIAM G HUMPHRIES
CONTROLLER
4.950 %
17,191
(2)
JAMES M WILLIAMS
VP, TREASURER & CIO
5.000 %
125,640
(3)
BENJAMIN LIOU
MD EQTY & BONDS, AST TREAS
22.000 %
249,067
(4)
DAVID D HUGHES
ASST TREAS, MANAGING DIRECTOR
30.000 %
344,930
(5)
KATHARINE KRIEGER
CIO
5.000 %
10,577
(6)
BARBARA JESUELE
DEPUTY CHIEF INVESTMENT OFFICER
51.000 %
626,068
Total.
Enter here and on Part II, line 1
.........................
1,373,473
Part XI
Supplemental Information
(see instructions)
Part Number
Line Number
Explanation
Amount
II
17, NET OPERATING LOSS CARRYFORWARD
IN ACCORDANCE WITH REV. RUL. 81-88 AND REV. RUL. 82-49, THE TAXPAYER IS RESTATING ITS PRIOR YEAR NOL CARRYFORWARD SCHEDULE TO ACCOUNT FOR TWO FORMS 8986, PARTNER'S SHARE OF ADJUSTMENT(S) TO PARTNERSHIP-RELATED ITEMS, THAT AFFECTED THE NET OPERATING LOSS FOR THE TAX YEARS. TAXPAYER'S 2019 FORM 990-T FOR ITS FISCAL YEAR ENDING JUNE 30, 2020 THAT OVER REPORTED ITS UNRELATED BUSINESS TAXABLE LOSSES. THE NOL CARRYFORWARD HAS BEEN ADJUSTED TO REFLECT THOSE CHANGES.
II
17, NET OPERATING LOSS CARRYFORWARD
NET OPERATING LOSS AS ORIGINALLY REPORTED $11,287,077ADJUSTMENT RECEIVED IN 2022, EIN 47-1245315 25,605ADJUSTMENT RECEIVED IN 2022, EIN 82-1537188 536,065ADJUSTMENT RECEIVED IN 2023, EIN 82-4145968 (56,758)ADJUSTMENT RECEIVED IN 2023, EIN 45-4110691 (13,466)---------------------------------------------------------------------ADJUSTED TOTAL 2019 NET OPERATING LOSS $11,778,523
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 13,103,541 13,103,541 006/30/20 1,088,740 1,088,740 006/30/21 6,739,102 6,739,102 006/30/22 0 0 006/30/23 0 0 0TOTAL 20,931,383 20,931,383 0
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 398,377 0 398,37706/30/21 1,389,883 0 1,389,88306/30/22 276,933 0 276,93306/30/23 338,494 0 338,494TOTAL 2,403,687 0 2,403,687
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 2,732,550 476,094 2,256,45606/30/20 2,289,469 0 2,289,46906/30/21 110,764 0 110,76406/30/22 186,546 0 186,54606/30/23 0 0 0TOTAL 5,319,329 476,094 4,843,235
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 1,705,381 1,705,381 006/30/20 308,079 304,449 3,63006/30/21 1,363,554 0 1,363,55406/30/22 1,504,630 0 1,504,63006/30/23 0 0 0TOTAL 4,881,644 2,009,830 2,871,814
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 0 0 006/30/21 31,886 31,866 006/30/22 30,050 30,050 006/30/23 0 0 0TOTAL 61,916 61,916 0
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 0 0 006/30/21 0 0 006/30/22 0 0 0 06/30/23 0 0 0
Schedule A (Form 990-T) 2022
Additional Data
Software ID:
Software Version:
-
TIN:
SCHEDULE A
(Form 990-T)
Department of the Treasury
Internal Revenue Service
Unrelated Business Taxable Income
From an Unrelated Trade or Business
Go to
www.irs.gov/Form990T
for instructions and the latest information.
Do not enter SSN numbers on this form as it may be made public if your organization is a 501(c)(3).
OMB No. 1545-0047
20
22
Open to Public Inspection for 501(c)(3) Organizations Only
A
Name of the organization
THE J PAUL GETTY TRUST
B
Employer identification number
95-1790021
C
Unrelated business activity code (see instructions)
901101
D
Sequence:
1
of
6
E
Describe the unrelated trade or business
QUALIFYING PARTNERSHIP INVESTMENTS
Part I
Unrelated Trade or Business Income
(A) Income
(B) Expenses
(C) Net
1a
Gross receipts or sales
3,721,846
b
Less returns and allowances
c
Balance
1c
3,721,846
2
Cost of goods sold (Part III, line 8)
.........
2
1,623,305
3
Gross profit. Subtract line 2 from line 1c
.......
3
2,098,541
2,098,541
4a
Capital gain net income (attach Sch D (Form 1041 or Form
1120)) (see instructions)
............
4a
List of Attached Documents:
// Content
14,279,687
14,279,687
b
Net gain (loss) (Form 4797) (attach Form 4797)
(see instructions)
4b
List of Attached Documents:
// Content
1,288,458
1,288,458
c
Capital loss deduction for trusts
4c
5
Income (loss) from a partnership or an S corporation (attach statement)
................
5
List of Attached Documents:
// Content
40,516,539
40,516,539
6
Rent income (Part IV)
.............
6
0
0
7
Unrelated debt-financed income (Part V)
.......
7
0
0
8
Interest, annuities, royalties, and rents from a controlled
organization (Part VI)
.............
8
0
0
9
Investment income of section 501(c)(7), (9), or (17)
organizations (Part VII)
............
9
0
0
10
Exploited exempt activity income (Part VIII)
......
10
11
Advertising income (Part IX)
...........
11
0
0
12
Other income (see instructions; attach statement)
....
12
List of Attached Documents:
// Content
213,445
213,445
13
Total.
Combine lines 3 through 12
.........
13
56,298,129
0
56,298,129
Part II
Deductions Not Taken Elsewhere
(See instructions for limitations on deductions) Deductions must be directly connected with the unrelated business income
1
Compensation of officers, directors, and trustees (Part X)
.................
1
1,373,473
2
Salaries and wages
............................
2
441,223
3
Repairs and maintenance
..........................
3
11
4
Bad debts
...............................
4
2,073
5
Interest (attach statement) (see instructions)
...................
5
6
Taxes and licenses
.............................
6
9,887
7
Depreciation (attach Form 4562) (see instructions)
.........
7
8
Less depreciation claimed in Part III and elsewhere on return
.....
8a
8b
9
Depletion
...............................
9
5,901,844
10
Contributions to deferred compensation plans
.....................
10
11
Employee benefit programs
..........................
11
541,046
12
Excess exempt expenses (Part VIII)
.......................
12
13
Excess readership costs (Part IX)
........................
13
0
14
Other deductions (attach statement)
List of Attached Documents:
// Content
......................
14
13,057
15
Total deductions.
Add lines 1 through 14
.....................
15
8,280,530
16
Unrelated business income before net operating loss deduction. Subtract line 15 from Part I, line 13, column (C)
16
48,017,599
17
Deduction for net operating loss (see instructions)
List of Attached Documents:
// Content
..................
17
29,547,633
18
Unrelated business taxable income.
Subtract line 17 from line 16
.............
18
18,469,966
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 74036O
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
2
Part III
Cost of Goods Sold
Enter method of inventory valuation
1
Inventory at beginning of year
........................
1
484,377
2
Purchases
...............................
2
1,782,078
3
Cost of labor
..............................
3
0
4
Additional section 263A costs (attach statement)
..................
4
0
5
Other costs (attach statement)
........................
5
0
6
Total.
Add lines 1 through 5
..........................
6
2,266,455
7
Inventory at end of year
...........................
7
643,150
8
Cost of goods sold.
Subtract line 7 from line 6. Enter here and in Part I, line 2
..........
8
1,623,305
9
Do the rules of section 263A (with respect to property produced or acquired for resale) apply to the organization?
Yes
No
Part IV
Rent Income (From Real Property and Personal Property Leased with Real Property)
1
Description of property (property street address, city, state, ZIP code). Check if a dual-use (see instructions)
A
B
C
D
A
B
C
D
2
Rent received or accrued
a
From personal property (if the percentage of rent for personal property is more than 10% but not more than 50%)
......
b
From real and personal property (if the percentage of rent for personal property exceeds 50% or if the rent is based on profit or income)
..........
c
Total rents received or accrued by property. Add lines 2a and 2b, columns A through D
.
3
Total rents received or accrued. Add line 2c columns A through D. Enter here and on Part I, line 6, column (A)
.
0
4
Deductions directly connected with the income in lines 2(a) and 2(b) (attach statement)
.
5
Total deductions.
Add line 4 columns A through D. Enter here and on Part I, line 6, column (B)
.....
0
Part V
Unrelated Debt-Financed Income
(see instructions)
1
Description of debt-financed property (street address, city, state, ZIP code). Check if a dual-use (see instructions)
A
B
C
D
A
B
C
D
2
Gross income from or allocable to debt-financed property
........
3
Deductions directly connected with or allocable to debt-financed property
a
Straight line depreciation (attach statement)
b
Other deductions (attach statement)
...
c
Total deductions (add lines 3a and 3b, columns A through D)
..........
4
Amount of average acquisition debt on or allocable to debt-financed property (attach statement)
...........
5
Average adjusted basis of or allocable to debt-financed property (attach statement)
...
6
Divide line 4 by line 5
.......
%
%
%
%
7
Gross income reportable. Multiply line 2 by line 6
8
Total gross income
(add line 7, columns A through D). Enter here and on Part I, line 7, column (A)
....
0
9
Allocable deductions. Multiply line 3c by line 6
10
Total allocable deductions.
Add line 9, columns A through D. Enter here and on Part I, line 7, column (B)
..
0
11
Total dividends-received deductions
included in line 10
.................
0
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
3
Part VI
Interest, Annuities, Royalties, and Rents from Controlled Organizations
(see instructions)
1.
Name of controlled organization
2.
Employer identification number
Exempt Controlled Organizations
3.
Net unrelated income (loss)
(see instructions)
4.
Total of specified payments made
5.
Part of column 4 that is included
in the controlling organization's
gross income
6.
Deductions directly connected with income in column 5
(1)
(2)
(3)
(4)
Nonexempt Controlled Organizations
7.
Taxable income
8.
Net unrelated
income (loss)
(see instructions)
9.
Total of specified payments made
10.
Part of column 9
that is included in the
controlling organization's
gross income
11.
Deductions directly connected with
income in column 10
(1)
(2)
(3)
(4)
Add columns 5 and 10.
Enter here and on Part I,
line 8, column (A)
Add columns 6 and 11.
Enter here and on Part I,
line 8, column (B)
Totals
.........................
0
0
Part VII
Investment Income of a Section 501(c)(7), (9), or (17) Organization
(see instructions)
1.
Description of income
2.
Amount of income
3.
Deductions directly connected
(attach statement)
4.
Set-asides
(attach statement)
5. Total deductions and set-asides
(add columns 3 and 4)
(1)
(2)
(3)
(4)
Totals
.........
Add amounts in column 2.
Enter here and on Part I,
line 9, column (A)
0
Add amounts in column 5.
Enter here and on Part I,
line 9, column (B)
0
Part VIII
Exploited Exempt Activity Income, Other Than Advertising Income
(see instructions)
1
Description of exploited activity:
2
Gross unrelated business income from trade or business. Enter here and on Part I, line 10, column (A)
...
2
3
Expenses directly connected with production of unrelated business income. Enter here and on Part I, line 10, column (B)
...............................
3
4
Net income (loss) from unrelated trade or business. Subtract line 3 from line 2. If a gain, complete
lines 5 through 7
.............................
4
5
Gross income from activity that is not unrelated business income
..............
5
6
Expenses attributable to income entered on line 5
...................
6
7
Excess exempt expenses. Subtract line 5 from line 6, but do not enter more than the amount on line 4. Enter here and on Part II, line 12
..........................
7
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
4
Part IX
Advertising Income
1
Name(s) of periodical(s). Check box if reporting two or more periodicals on a consolidated basis.
A
B
C
D
Enter amounts for each periodical listed above in the corresponding column.
A
B
C
D
2
Gross advertising income
......
a
Add columns A through D. Enter here and on Part I, line 11, column (A)
.............
0
3
Direct Advertising costs by periodical
..
a
Add columns A through D. Enter here and on Part I, line 11, column (B)
.............
0
4
Advertising gain (loss). Subtract line 3 from line 2. For any column in line 4 showing a gain, complete lines 5 through 8. For any column in line 4 showing a loss or zero, do not complete lines 5 through 7, and enter zero on line 8
............
5
Readership costs
........
6
Circulation income
........
7
Excess readership costs. If line 6 is less than line 5, subtract line 6 from line 5. If line 5 is less than line 6, enter zero
.....
8
Excess readership costs allowed as a deduction. For each column showing a gain on line 4, enter the lesser of line 4 or line 7
.
a
Add line 8, columns A through D. Enter the greater of the columns total or zero here and on Part II, line 13
..
0
Part X
Compensation of Officers, Directors, and Trustees
(see instructions)
1.
Name
2.
Title
3.
Percentage
of time devoted
to business
4.
Compensation
attributable to
unrelated business
(1)
WILLIAM G HUMPHRIES
CONTROLLER
4.950 %
17,191
(2)
JAMES M WILLIAMS
VP, TREASURER & CIO
5.000 %
125,640
(3)
BENJAMIN LIOU
MD EQTY & BONDS, AST TREAS
22.000 %
249,067
(4)
DAVID D HUGHES
ASST TREAS, MANAGING DIRECTOR
30.000 %
344,930
(5)
KATHARINE KRIEGER
CIO
5.000 %
10,577
(6)
BARBARA JESUELE
DEPUTY CHIEF INVESTMENT OFFICER
51.000 %
626,068
Total.
Enter here and on Part II, line 1
.........................
1,373,473
Part XI
Supplemental Information
(see instructions)
Part Number
Line Number
Explanation
Amount
II
17, NET OPERATING LOSS CARRYFORWARD
IN ACCORDANCE WITH REV. RUL. 81-88 AND REV. RUL. 82-49, THE TAXPAYER IS RESTATING ITS PRIOR YEAR NOL CARRYFORWARD SCHEDULE TO ACCOUNT FOR TWO FORMS 8986, PARTNER'S SHARE OF ADJUSTMENT(S) TO PARTNERSHIP-RELATED ITEMS, THAT AFFECTED THE NET OPERATING LOSS FOR THE TAX YEARS. TAXPAYER'S 2019 FORM 990-T FOR ITS FISCAL YEAR ENDING JUNE 30, 2020 THAT OVER REPORTED ITS UNRELATED BUSINESS TAXABLE LOSSES. THE NOL CARRYFORWARD HAS BEEN ADJUSTED TO REFLECT THOSE CHANGES.
II
17, NET OPERATING LOSS CARRYFORWARD
NET OPERATING LOSS AS ORIGINALLY REPORTED $11,287,077ADJUSTMENT RECEIVED IN 2022, EIN 47-1245315 25,605ADJUSTMENT RECEIVED IN 2022, EIN 82-1537188 536,065ADJUSTMENT RECEIVED IN 2023, EIN 82-4145968 (56,758)ADJUSTMENT RECEIVED IN 2023, EIN 45-4110691 (13,466)---------------------------------------------------------------------ADJUSTED TOTAL 2019 NET OPERATING LOSS $11,778,523
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 13,103,541 13,103,541 006/30/20 1,088,740 1,088,740 006/30/21 6,739,102 6,739,102 006/30/22 0 0 006/30/23 0 0 0TOTAL 20,931,383 20,931,383 0
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 398,377 0 398,37706/30/21 1,389,883 0 1,389,88306/30/22 276,933 0 276,93306/30/23 338,494 0 338,494TOTAL 2,403,687 0 2,403,687
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 2,732,550 476,094 2,256,45606/30/20 2,289,469 0 2,289,46906/30/21 110,764 0 110,76406/30/22 186,546 0 186,54606/30/23 0 0 0TOTAL 5,319,329 476,094 4,843,235
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 1,705,381 1,705,381 006/30/20 308,079 304,449 3,63006/30/21 1,363,554 0 1,363,55406/30/22 1,504,630 0 1,504,63006/30/23 0 0 0TOTAL 4,881,644 2,009,830 2,871,814
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 0 0 006/30/21 31,886 31,866 006/30/22 30,050 30,050 006/30/23 0 0 0TOTAL 61,916 61,916 0
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 0 0 006/30/21 0 0 006/30/22 0 0 0 06/30/23 0 0 0
Schedule A (Form 990-T) 2022
Additional Data
Software ID:
Software Version:
-
TIN:
SCHEDULE A
(Form 990-T)
Department of the Treasury
Internal Revenue Service
Unrelated Business Taxable Income
From an Unrelated Trade or Business
Go to
www.irs.gov/Form990T
for instructions and the latest information.
Do not enter SSN numbers on this form as it may be made public if your organization is a 501(c)(3).
OMB No. 1545-0047
20
22
Open to Public Inspection for 501(c)(3) Organizations Only
A
Name of the organization
THE J PAUL GETTY TRUST
B
Employer identification number
95-1790021
C
Unrelated business activity code (see instructions)
901101
D
Sequence:
1
of
6
E
Describe the unrelated trade or business
QUALIFYING PARTNERSHIP INVESTMENTS
Part I
Unrelated Trade or Business Income
(A) Income
(B) Expenses
(C) Net
1a
Gross receipts or sales
3,721,846
b
Less returns and allowances
c
Balance
1c
3,721,846
2
Cost of goods sold (Part III, line 8)
.........
2
1,623,305
3
Gross profit. Subtract line 2 from line 1c
.......
3
2,098,541
2,098,541
4a
Capital gain net income (attach Sch D (Form 1041 or Form
1120)) (see instructions)
............
4a
List of Attached Documents:
// Content
14,279,687
14,279,687
b
Net gain (loss) (Form 4797) (attach Form 4797)
(see instructions)
4b
List of Attached Documents:
// Content
1,288,458
1,288,458
c
Capital loss deduction for trusts
4c
5
Income (loss) from a partnership or an S corporation (attach statement)
................
5
List of Attached Documents:
// Content
40,516,539
40,516,539
6
Rent income (Part IV)
.............
6
0
0
7
Unrelated debt-financed income (Part V)
.......
7
0
0
8
Interest, annuities, royalties, and rents from a controlled
organization (Part VI)
.............
8
0
0
9
Investment income of section 501(c)(7), (9), or (17)
organizations (Part VII)
............
9
0
0
10
Exploited exempt activity income (Part VIII)
......
10
11
Advertising income (Part IX)
...........
11
0
0
12
Other income (see instructions; attach statement)
....
12
List of Attached Documents:
// Content
213,445
213,445
13
Total.
Combine lines 3 through 12
.........
13
56,298,129
0
56,298,129
Part II
Deductions Not Taken Elsewhere
(See instructions for limitations on deductions) Deductions must be directly connected with the unrelated business income
1
Compensation of officers, directors, and trustees (Part X)
.................
1
1,373,473
2
Salaries and wages
............................
2
441,223
3
Repairs and maintenance
..........................
3
11
4
Bad debts
...............................
4
2,073
5
Interest (attach statement) (see instructions)
...................
5
6
Taxes and licenses
.............................
6
9,887
7
Depreciation (attach Form 4562) (see instructions)
.........
7
8
Less depreciation claimed in Part III and elsewhere on return
.....
8a
8b
9
Depletion
...............................
9
5,901,844
10
Contributions to deferred compensation plans
.....................
10
11
Employee benefit programs
..........................
11
541,046
12
Excess exempt expenses (Part VIII)
.......................
12
13
Excess readership costs (Part IX)
........................
13
0
14
Other deductions (attach statement)
List of Attached Documents:
// Content
......................
14
13,057
15
Total deductions.
Add lines 1 through 14
.....................
15
8,280,530
16
Unrelated business income before net operating loss deduction. Subtract line 15 from Part I, line 13, column (C)
16
48,017,599
17
Deduction for net operating loss (see instructions)
List of Attached Documents:
// Content
..................
17
29,547,633
18
Unrelated business taxable income.
Subtract line 17 from line 16
.............
18
18,469,966
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 74036O
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
2
Part III
Cost of Goods Sold
Enter method of inventory valuation
1
Inventory at beginning of year
........................
1
484,377
2
Purchases
...............................
2
1,782,078
3
Cost of labor
..............................
3
0
4
Additional section 263A costs (attach statement)
..................
4
0
5
Other costs (attach statement)
........................
5
0
6
Total.
Add lines 1 through 5
..........................
6
2,266,455
7
Inventory at end of year
...........................
7
643,150
8
Cost of goods sold.
Subtract line 7 from line 6. Enter here and in Part I, line 2
..........
8
1,623,305
9
Do the rules of section 263A (with respect to property produced or acquired for resale) apply to the organization?
Yes
No
Part IV
Rent Income (From Real Property and Personal Property Leased with Real Property)
1
Description of property (property street address, city, state, ZIP code). Check if a dual-use (see instructions)
A
B
C
D
A
B
C
D
2
Rent received or accrued
a
From personal property (if the percentage of rent for personal property is more than 10% but not more than 50%)
......
b
From real and personal property (if the percentage of rent for personal property exceeds 50% or if the rent is based on profit or income)
..........
c
Total rents received or accrued by property. Add lines 2a and 2b, columns A through D
.
3
Total rents received or accrued. Add line 2c columns A through D. Enter here and on Part I, line 6, column (A)
.
0
4
Deductions directly connected with the income in lines 2(a) and 2(b) (attach statement)
.
5
Total deductions.
Add line 4 columns A through D. Enter here and on Part I, line 6, column (B)
.....
0
Part V
Unrelated Debt-Financed Income
(see instructions)
1
Description of debt-financed property (street address, city, state, ZIP code). Check if a dual-use (see instructions)
A
B
C
D
A
B
C
D
2
Gross income from or allocable to debt-financed property
........
3
Deductions directly connected with or allocable to debt-financed property
a
Straight line depreciation (attach statement)
b
Other deductions (attach statement)
...
c
Total deductions (add lines 3a and 3b, columns A through D)
..........
4
Amount of average acquisition debt on or allocable to debt-financed property (attach statement)
...........
5
Average adjusted basis of or allocable to debt-financed property (attach statement)
...
6
Divide line 4 by line 5
.......
%
%
%
%
7
Gross income reportable. Multiply line 2 by line 6
8
Total gross income
(add line 7, columns A through D). Enter here and on Part I, line 7, column (A)
....
0
9
Allocable deductions. Multiply line 3c by line 6
10
Total allocable deductions.
Add line 9, columns A through D. Enter here and on Part I, line 7, column (B)
..
0
11
Total dividends-received deductions
included in line 10
.................
0
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
3
Part VI
Interest, Annuities, Royalties, and Rents from Controlled Organizations
(see instructions)
1.
Name of controlled organization
2.
Employer identification number
Exempt Controlled Organizations
3.
Net unrelated income (loss)
(see instructions)
4.
Total of specified payments made
5.
Part of column 4 that is included
in the controlling organization's
gross income
6.
Deductions directly connected with income in column 5
(1)
(2)
(3)
(4)
Nonexempt Controlled Organizations
7.
Taxable income
8.
Net unrelated
income (loss)
(see instructions)
9.
Total of specified payments made
10.
Part of column 9
that is included in the
controlling organization's
gross income
11.
Deductions directly connected with
income in column 10
(1)
(2)
(3)
(4)
Add columns 5 and 10.
Enter here and on Part I,
line 8, column (A)
Add columns 6 and 11.
Enter here and on Part I,
line 8, column (B)
Totals
.........................
0
0
Part VII
Investment Income of a Section 501(c)(7), (9), or (17) Organization
(see instructions)
1.
Description of income
2.
Amount of income
3.
Deductions directly connected
(attach statement)
4.
Set-asides
(attach statement)
5. Total deductions and set-asides
(add columns 3 and 4)
(1)
(2)
(3)
(4)
Totals
.........
Add amounts in column 2.
Enter here and on Part I,
line 9, column (A)
0
Add amounts in column 5.
Enter here and on Part I,
line 9, column (B)
0
Part VIII
Exploited Exempt Activity Income, Other Than Advertising Income
(see instructions)
1
Description of exploited activity:
2
Gross unrelated business income from trade or business. Enter here and on Part I, line 10, column (A)
...
2
3
Expenses directly connected with production of unrelated business income. Enter here and on Part I, line 10, column (B)
...............................
3
4
Net income (loss) from unrelated trade or business. Subtract line 3 from line 2. If a gain, complete
lines 5 through 7
.............................
4
5
Gross income from activity that is not unrelated business income
..............
5
6
Expenses attributable to income entered on line 5
...................
6
7
Excess exempt expenses. Subtract line 5 from line 6, but do not enter more than the amount on line 4. Enter here and on Part II, line 12
..........................
7
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
4
Part IX
Advertising Income
1
Name(s) of periodical(s). Check box if reporting two or more periodicals on a consolidated basis.
A
B
C
D
Enter amounts for each periodical listed above in the corresponding column.
A
B
C
D
2
Gross advertising income
......
a
Add columns A through D. Enter here and on Part I, line 11, column (A)
.............
0
3
Direct Advertising costs by periodical
..
a
Add columns A through D. Enter here and on Part I, line 11, column (B)
.............
0
4
Advertising gain (loss). Subtract line 3 from line 2. For any column in line 4 showing a gain, complete lines 5 through 8. For any column in line 4 showing a loss or zero, do not complete lines 5 through 7, and enter zero on line 8
............
5
Readership costs
........
6
Circulation income
........
7
Excess readership costs. If line 6 is less than line 5, subtract line 6 from line 5. If line 5 is less than line 6, enter zero
.....
8
Excess readership costs allowed as a deduction. For each column showing a gain on line 4, enter the lesser of line 4 or line 7
.
a
Add line 8, columns A through D. Enter the greater of the columns total or zero here and on Part II, line 13
..
0
Part X
Compensation of Officers, Directors, and Trustees
(see instructions)
1.
Name
2.
Title
3.
Percentage
of time devoted
to business
4.
Compensation
attributable to
unrelated business
(1)
WILLIAM G HUMPHRIES
CONTROLLER
4.950 %
17,191
(2)
JAMES M WILLIAMS
VP, TREASURER & CIO
5.000 %
125,640
(3)
BENJAMIN LIOU
MD EQTY & BONDS, AST TREAS
22.000 %
249,067
(4)
DAVID D HUGHES
ASST TREAS, MANAGING DIRECTOR
30.000 %
344,930
(5)
KATHARINE KRIEGER
CIO
5.000 %
10,577
(6)
BARBARA JESUELE
DEPUTY CHIEF INVESTMENT OFFICER
51.000 %
626,068
Total.
Enter here and on Part II, line 1
.........................
1,373,473
Part XI
Supplemental Information
(see instructions)
Part Number
Line Number
Explanation
Amount
II
17, NET OPERATING LOSS CARRYFORWARD
IN ACCORDANCE WITH REV. RUL. 81-88 AND REV. RUL. 82-49, THE TAXPAYER IS RESTATING ITS PRIOR YEAR NOL CARRYFORWARD SCHEDULE TO ACCOUNT FOR TWO FORMS 8986, PARTNER'S SHARE OF ADJUSTMENT(S) TO PARTNERSHIP-RELATED ITEMS, THAT AFFECTED THE NET OPERATING LOSS FOR THE TAX YEARS. TAXPAYER'S 2019 FORM 990-T FOR ITS FISCAL YEAR ENDING JUNE 30, 2020 THAT OVER REPORTED ITS UNRELATED BUSINESS TAXABLE LOSSES. THE NOL CARRYFORWARD HAS BEEN ADJUSTED TO REFLECT THOSE CHANGES.
II
17, NET OPERATING LOSS CARRYFORWARD
NET OPERATING LOSS AS ORIGINALLY REPORTED $11,287,077ADJUSTMENT RECEIVED IN 2022, EIN 47-1245315 25,605ADJUSTMENT RECEIVED IN 2022, EIN 82-1537188 536,065ADJUSTMENT RECEIVED IN 2023, EIN 82-4145968 (56,758)ADJUSTMENT RECEIVED IN 2023, EIN 45-4110691 (13,466)---------------------------------------------------------------------ADJUSTED TOTAL 2019 NET OPERATING LOSS $11,778,523
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 13,103,541 13,103,541 006/30/20 1,088,740 1,088,740 006/30/21 6,739,102 6,739,102 006/30/22 0 0 006/30/23 0 0 0TOTAL 20,931,383 20,931,383 0
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 398,377 0 398,37706/30/21 1,389,883 0 1,389,88306/30/22 276,933 0 276,93306/30/23 338,494 0 338,494TOTAL 2,403,687 0 2,403,687
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 2,732,550 476,094 2,256,45606/30/20 2,289,469 0 2,289,46906/30/21 110,764 0 110,76406/30/22 186,546 0 186,54606/30/23 0 0 0TOTAL 5,319,329 476,094 4,843,235
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 1,705,381 1,705,381 006/30/20 308,079 304,449 3,63006/30/21 1,363,554 0 1,363,55406/30/22 1,504,630 0 1,504,63006/30/23 0 0 0TOTAL 4,881,644 2,009,830 2,871,814
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 0 0 006/30/21 31,886 31,866 006/30/22 30,050 30,050 006/30/23 0 0 0TOTAL 61,916 61,916 0
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 0 0 006/30/21 0 0 006/30/22 0 0 0 06/30/23 0 0 0
Schedule A (Form 990-T) 2022
Additional Data
Software ID:
Software Version:
-
TIN:
SCHEDULE A
(Form 990-T)
Department of the Treasury
Internal Revenue Service
Unrelated Business Taxable Income
From an Unrelated Trade or Business
Go to
www.irs.gov/Form990T
for instructions and the latest information.
Do not enter SSN numbers on this form as it may be made public if your organization is a 501(c)(3).
OMB No. 1545-0047
20
22
Open to Public Inspection for 501(c)(3) Organizations Only
A
Name of the organization
THE J PAUL GETTY TRUST
B
Employer identification number
95-1790021
C
Unrelated business activity code (see instructions)
901101
D
Sequence:
1
of
6
E
Describe the unrelated trade or business
QUALIFYING PARTNERSHIP INVESTMENTS
Part I
Unrelated Trade or Business Income
(A) Income
(B) Expenses
(C) Net
1a
Gross receipts or sales
3,721,846
b
Less returns and allowances
c
Balance
1c
3,721,846
2
Cost of goods sold (Part III, line 8)
.........
2
1,623,305
3
Gross profit. Subtract line 2 from line 1c
.......
3
2,098,541
2,098,541
4a
Capital gain net income (attach Sch D (Form 1041 or Form
1120)) (see instructions)
............
4a
List of Attached Documents:
// Content
14,279,687
14,279,687
b
Net gain (loss) (Form 4797) (attach Form 4797)
(see instructions)
4b
List of Attached Documents:
// Content
1,288,458
1,288,458
c
Capital loss deduction for trusts
4c
5
Income (loss) from a partnership or an S corporation (attach statement)
................
5
List of Attached Documents:
// Content
40,516,539
40,516,539
6
Rent income (Part IV)
.............
6
0
0
7
Unrelated debt-financed income (Part V)
.......
7
0
0
8
Interest, annuities, royalties, and rents from a controlled
organization (Part VI)
.............
8
0
0
9
Investment income of section 501(c)(7), (9), or (17)
organizations (Part VII)
............
9
0
0
10
Exploited exempt activity income (Part VIII)
......
10
11
Advertising income (Part IX)
...........
11
0
0
12
Other income (see instructions; attach statement)
....
12
List of Attached Documents:
// Content
213,445
213,445
13
Total.
Combine lines 3 through 12
.........
13
56,298,129
0
56,298,129
Part II
Deductions Not Taken Elsewhere
(See instructions for limitations on deductions) Deductions must be directly connected with the unrelated business income
1
Compensation of officers, directors, and trustees (Part X)
.................
1
1,373,473
2
Salaries and wages
............................
2
441,223
3
Repairs and maintenance
..........................
3
11
4
Bad debts
...............................
4
2,073
5
Interest (attach statement) (see instructions)
...................
5
6
Taxes and licenses
.............................
6
9,887
7
Depreciation (attach Form 4562) (see instructions)
.........
7
8
Less depreciation claimed in Part III and elsewhere on return
.....
8a
8b
9
Depletion
...............................
9
5,901,844
10
Contributions to deferred compensation plans
.....................
10
11
Employee benefit programs
..........................
11
541,046
12
Excess exempt expenses (Part VIII)
.......................
12
13
Excess readership costs (Part IX)
........................
13
0
14
Other deductions (attach statement)
List of Attached Documents:
// Content
......................
14
13,057
15
Total deductions.
Add lines 1 through 14
.....................
15
8,280,530
16
Unrelated business income before net operating loss deduction. Subtract line 15 from Part I, line 13, column (C)
16
48,017,599
17
Deduction for net operating loss (see instructions)
List of Attached Documents:
// Content
..................
17
29,547,633
18
Unrelated business taxable income.
Subtract line 17 from line 16
.............
18
18,469,966
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 74036O
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
2
Part III
Cost of Goods Sold
Enter method of inventory valuation
1
Inventory at beginning of year
........................
1
484,377
2
Purchases
...............................
2
1,782,078
3
Cost of labor
..............................
3
0
4
Additional section 263A costs (attach statement)
..................
4
0
5
Other costs (attach statement)
........................
5
0
6
Total.
Add lines 1 through 5
..........................
6
2,266,455
7
Inventory at end of year
...........................
7
643,150
8
Cost of goods sold.
Subtract line 7 from line 6. Enter here and in Part I, line 2
..........
8
1,623,305
9
Do the rules of section 263A (with respect to property produced or acquired for resale) apply to the organization?
Yes
No
Part IV
Rent Income (From Real Property and Personal Property Leased with Real Property)
1
Description of property (property street address, city, state, ZIP code). Check if a dual-use (see instructions)
A
B
C
D
A
B
C
D
2
Rent received or accrued
a
From personal property (if the percentage of rent for personal property is more than 10% but not more than 50%)
......
b
From real and personal property (if the percentage of rent for personal property exceeds 50% or if the rent is based on profit or income)
..........
c
Total rents received or accrued by property. Add lines 2a and 2b, columns A through D
.
3
Total rents received or accrued. Add line 2c columns A through D. Enter here and on Part I, line 6, column (A)
.
0
4
Deductions directly connected with the income in lines 2(a) and 2(b) (attach statement)
.
5
Total deductions.
Add line 4 columns A through D. Enter here and on Part I, line 6, column (B)
.....
0
Part V
Unrelated Debt-Financed Income
(see instructions)
1
Description of debt-financed property (street address, city, state, ZIP code). Check if a dual-use (see instructions)
A
B
C
D
A
B
C
D
2
Gross income from or allocable to debt-financed property
........
3
Deductions directly connected with or allocable to debt-financed property
a
Straight line depreciation (attach statement)
b
Other deductions (attach statement)
...
c
Total deductions (add lines 3a and 3b, columns A through D)
..........
4
Amount of average acquisition debt on or allocable to debt-financed property (attach statement)
...........
5
Average adjusted basis of or allocable to debt-financed property (attach statement)
...
6
Divide line 4 by line 5
.......
%
%
%
%
7
Gross income reportable. Multiply line 2 by line 6
8
Total gross income
(add line 7, columns A through D). Enter here and on Part I, line 7, column (A)
....
0
9
Allocable deductions. Multiply line 3c by line 6
10
Total allocable deductions.
Add line 9, columns A through D. Enter here and on Part I, line 7, column (B)
..
0
11
Total dividends-received deductions
included in line 10
.................
0
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
3
Part VI
Interest, Annuities, Royalties, and Rents from Controlled Organizations
(see instructions)
1.
Name of controlled organization
2.
Employer identification number
Exempt Controlled Organizations
3.
Net unrelated income (loss)
(see instructions)
4.
Total of specified payments made
5.
Part of column 4 that is included
in the controlling organization's
gross income
6.
Deductions directly connected with income in column 5
(1)
(2)
(3)
(4)
Nonexempt Controlled Organizations
7.
Taxable income
8.
Net unrelated
income (loss)
(see instructions)
9.
Total of specified payments made
10.
Part of column 9
that is included in the
controlling organization's
gross income
11.
Deductions directly connected with
income in column 10
(1)
(2)
(3)
(4)
Add columns 5 and 10.
Enter here and on Part I,
line 8, column (A)
Add columns 6 and 11.
Enter here and on Part I,
line 8, column (B)
Totals
.........................
0
0
Part VII
Investment Income of a Section 501(c)(7), (9), or (17) Organization
(see instructions)
1.
Description of income
2.
Amount of income
3.
Deductions directly connected
(attach statement)
4.
Set-asides
(attach statement)
5. Total deductions and set-asides
(add columns 3 and 4)
(1)
(2)
(3)
(4)
Totals
.........
Add amounts in column 2.
Enter here and on Part I,
line 9, column (A)
0
Add amounts in column 5.
Enter here and on Part I,
line 9, column (B)
0
Part VIII
Exploited Exempt Activity Income, Other Than Advertising Income
(see instructions)
1
Description of exploited activity:
2
Gross unrelated business income from trade or business. Enter here and on Part I, line 10, column (A)
...
2
3
Expenses directly connected with production of unrelated business income. Enter here and on Part I, line 10, column (B)
...............................
3
4
Net income (loss) from unrelated trade or business. Subtract line 3 from line 2. If a gain, complete
lines 5 through 7
.............................
4
5
Gross income from activity that is not unrelated business income
..............
5
6
Expenses attributable to income entered on line 5
...................
6
7
Excess exempt expenses. Subtract line 5 from line 6, but do not enter more than the amount on line 4. Enter here and on Part II, line 12
..........................
7
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
4
Part IX
Advertising Income
1
Name(s) of periodical(s). Check box if reporting two or more periodicals on a consolidated basis.
A
B
C
D
Enter amounts for each periodical listed above in the corresponding column.
A
B
C
D
2
Gross advertising income
......
a
Add columns A through D. Enter here and on Part I, line 11, column (A)
.............
0
3
Direct Advertising costs by periodical
..
a
Add columns A through D. Enter here and on Part I, line 11, column (B)
.............
0
4
Advertising gain (loss). Subtract line 3 from line 2. For any column in line 4 showing a gain, complete lines 5 through 8. For any column in line 4 showing a loss or zero, do not complete lines 5 through 7, and enter zero on line 8
............
5
Readership costs
........
6
Circulation income
........
7
Excess readership costs. If line 6 is less than line 5, subtract line 6 from line 5. If line 5 is less than line 6, enter zero
.....
8
Excess readership costs allowed as a deduction. For each column showing a gain on line 4, enter the lesser of line 4 or line 7
.
a
Add line 8, columns A through D. Enter the greater of the columns total or zero here and on Part II, line 13
..
0
Part X
Compensation of Officers, Directors, and Trustees
(see instructions)
1.
Name
2.
Title
3.
Percentage
of time devoted
to business
4.
Compensation
attributable to
unrelated business
(1)
WILLIAM G HUMPHRIES
CONTROLLER
4.950 %
17,191
(2)
JAMES M WILLIAMS
VP, TREASURER & CIO
5.000 %
125,640
(3)
BENJAMIN LIOU
MD EQTY & BONDS, AST TREAS
22.000 %
249,067
(4)
DAVID D HUGHES
ASST TREAS, MANAGING DIRECTOR
30.000 %
344,930
(5)
KATHARINE KRIEGER
CIO
5.000 %
10,577
(6)
BARBARA JESUELE
DEPUTY CHIEF INVESTMENT OFFICER
51.000 %
626,068
Total.
Enter here and on Part II, line 1
.........................
1,373,473
Part XI
Supplemental Information
(see instructions)
Part Number
Line Number
Explanation
Amount
II
17, NET OPERATING LOSS CARRYFORWARD
IN ACCORDANCE WITH REV. RUL. 81-88 AND REV. RUL. 82-49, THE TAXPAYER IS RESTATING ITS PRIOR YEAR NOL CARRYFORWARD SCHEDULE TO ACCOUNT FOR TWO FORMS 8986, PARTNER'S SHARE OF ADJUSTMENT(S) TO PARTNERSHIP-RELATED ITEMS, THAT AFFECTED THE NET OPERATING LOSS FOR THE TAX YEARS. TAXPAYER'S 2019 FORM 990-T FOR ITS FISCAL YEAR ENDING JUNE 30, 2020 THAT OVER REPORTED ITS UNRELATED BUSINESS TAXABLE LOSSES. THE NOL CARRYFORWARD HAS BEEN ADJUSTED TO REFLECT THOSE CHANGES.
II
17, NET OPERATING LOSS CARRYFORWARD
NET OPERATING LOSS AS ORIGINALLY REPORTED $11,287,077ADJUSTMENT RECEIVED IN 2022, EIN 47-1245315 25,605ADJUSTMENT RECEIVED IN 2022, EIN 82-1537188 536,065ADJUSTMENT RECEIVED IN 2023, EIN 82-4145968 (56,758)ADJUSTMENT RECEIVED IN 2023, EIN 45-4110691 (13,466)---------------------------------------------------------------------ADJUSTED TOTAL 2019 NET OPERATING LOSS $11,778,523
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 13,103,541 13,103,541 006/30/20 1,088,740 1,088,740 006/30/21 6,739,102 6,739,102 006/30/22 0 0 006/30/23 0 0 0TOTAL 20,931,383 20,931,383 0
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 398,377 0 398,37706/30/21 1,389,883 0 1,389,88306/30/22 276,933 0 276,93306/30/23 338,494 0 338,494TOTAL 2,403,687 0 2,403,687
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 2,732,550 476,094 2,256,45606/30/20 2,289,469 0 2,289,46906/30/21 110,764 0 110,76406/30/22 186,546 0 186,54606/30/23 0 0 0TOTAL 5,319,329 476,094 4,843,235
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 1,705,381 1,705,381 006/30/20 308,079 304,449 3,63006/30/21 1,363,554 0 1,363,55406/30/22 1,504,630 0 1,504,63006/30/23 0 0 0TOTAL 4,881,644 2,009,830 2,871,814
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 0 0 006/30/21 31,886 31,866 006/30/22 30,050 30,050 006/30/23 0 0 0TOTAL 61,916 61,916 0
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 0 0 006/30/21 0 0 006/30/22 0 0 0 06/30/23 0 0 0
Schedule A (Form 990-T) 2022
Additional Data
Software ID:
Software Version:
-
TIN:
SCHEDULE A
(Form 990-T)
Department of the Treasury
Internal Revenue Service
Unrelated Business Taxable Income
From an Unrelated Trade or Business
Go to
www.irs.gov/Form990T
for instructions and the latest information.
Do not enter SSN numbers on this form as it may be made public if your organization is a 501(c)(3).
OMB No. 1545-0047
20
22
Open to Public Inspection for 501(c)(3) Organizations Only
A
Name of the organization
THE J PAUL GETTY TRUST
B
Employer identification number
95-1790021
C
Unrelated business activity code (see instructions)
901101
D
Sequence:
1
of
6
E
Describe the unrelated trade or business
QUALIFYING PARTNERSHIP INVESTMENTS
Part I
Unrelated Trade or Business Income
(A) Income
(B) Expenses
(C) Net
1a
Gross receipts or sales
3,721,846
b
Less returns and allowances
c
Balance
1c
3,721,846
2
Cost of goods sold (Part III, line 8)
.........
2
1,623,305
3
Gross profit. Subtract line 2 from line 1c
.......
3
2,098,541
2,098,541
4a
Capital gain net income (attach Sch D (Form 1041 or Form
1120)) (see instructions)
............
4a
List of Attached Documents:
// Content
14,279,687
14,279,687
b
Net gain (loss) (Form 4797) (attach Form 4797)
(see instructions)
4b
List of Attached Documents:
// Content
1,288,458
1,288,458
c
Capital loss deduction for trusts
4c
5
Income (loss) from a partnership or an S corporation (attach statement)
................
5
List of Attached Documents:
// Content
40,516,539
40,516,539
6
Rent income (Part IV)
.............
6
0
0
7
Unrelated debt-financed income (Part V)
.......
7
0
0
8
Interest, annuities, royalties, and rents from a controlled
organization (Part VI)
.............
8
0
0
9
Investment income of section 501(c)(7), (9), or (17)
organizations (Part VII)
............
9
0
0
10
Exploited exempt activity income (Part VIII)
......
10
11
Advertising income (Part IX)
...........
11
0
0
12
Other income (see instructions; attach statement)
....
12
List of Attached Documents:
// Content
213,445
213,445
13
Total.
Combine lines 3 through 12
.........
13
56,298,129
0
56,298,129
Part II
Deductions Not Taken Elsewhere
(See instructions for limitations on deductions) Deductions must be directly connected with the unrelated business income
1
Compensation of officers, directors, and trustees (Part X)
.................
1
1,373,473
2
Salaries and wages
............................
2
441,223
3
Repairs and maintenance
..........................
3
11
4
Bad debts
...............................
4
2,073
5
Interest (attach statement) (see instructions)
...................
5
6
Taxes and licenses
.............................
6
9,887
7
Depreciation (attach Form 4562) (see instructions)
.........
7
8
Less depreciation claimed in Part III and elsewhere on return
.....
8a
8b
9
Depletion
...............................
9
5,901,844
10
Contributions to deferred compensation plans
.....................
10
11
Employee benefit programs
..........................
11
541,046
12
Excess exempt expenses (Part VIII)
.......................
12
13
Excess readership costs (Part IX)
........................
13
0
14
Other deductions (attach statement)
List of Attached Documents:
// Content
......................
14
13,057
15
Total deductions.
Add lines 1 through 14
.....................
15
8,280,530
16
Unrelated business income before net operating loss deduction. Subtract line 15 from Part I, line 13, column (C)
16
48,017,599
17
Deduction for net operating loss (see instructions)
List of Attached Documents:
// Content
..................
17
29,547,633
18
Unrelated business taxable income.
Subtract line 17 from line 16
.............
18
18,469,966
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 74036O
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
2
Part III
Cost of Goods Sold
Enter method of inventory valuation
1
Inventory at beginning of year
........................
1
484,377
2
Purchases
...............................
2
1,782,078
3
Cost of labor
..............................
3
0
4
Additional section 263A costs (attach statement)
..................
4
0
5
Other costs (attach statement)
........................
5
0
6
Total.
Add lines 1 through 5
..........................
6
2,266,455
7
Inventory at end of year
...........................
7
643,150
8
Cost of goods sold.
Subtract line 7 from line 6. Enter here and in Part I, line 2
..........
8
1,623,305
9
Do the rules of section 263A (with respect to property produced or acquired for resale) apply to the organization?
Yes
No
Part IV
Rent Income (From Real Property and Personal Property Leased with Real Property)
1
Description of property (property street address, city, state, ZIP code). Check if a dual-use (see instructions)
A
B
C
D
A
B
C
D
2
Rent received or accrued
a
From personal property (if the percentage of rent for personal property is more than 10% but not more than 50%)
......
b
From real and personal property (if the percentage of rent for personal property exceeds 50% or if the rent is based on profit or income)
..........
c
Total rents received or accrued by property. Add lines 2a and 2b, columns A through D
.
3
Total rents received or accrued. Add line 2c columns A through D. Enter here and on Part I, line 6, column (A)
.
0
4
Deductions directly connected with the income in lines 2(a) and 2(b) (attach statement)
.
5
Total deductions.
Add line 4 columns A through D. Enter here and on Part I, line 6, column (B)
.....
0
Part V
Unrelated Debt-Financed Income
(see instructions)
1
Description of debt-financed property (street address, city, state, ZIP code). Check if a dual-use (see instructions)
A
B
C
D
A
B
C
D
2
Gross income from or allocable to debt-financed property
........
3
Deductions directly connected with or allocable to debt-financed property
a
Straight line depreciation (attach statement)
b
Other deductions (attach statement)
...
c
Total deductions (add lines 3a and 3b, columns A through D)
..........
4
Amount of average acquisition debt on or allocable to debt-financed property (attach statement)
...........
5
Average adjusted basis of or allocable to debt-financed property (attach statement)
...
6
Divide line 4 by line 5
.......
%
%
%
%
7
Gross income reportable. Multiply line 2 by line 6
8
Total gross income
(add line 7, columns A through D). Enter here and on Part I, line 7, column (A)
....
0
9
Allocable deductions. Multiply line 3c by line 6
10
Total allocable deductions.
Add line 9, columns A through D. Enter here and on Part I, line 7, column (B)
..
0
11
Total dividends-received deductions
included in line 10
.................
0
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
3
Part VI
Interest, Annuities, Royalties, and Rents from Controlled Organizations
(see instructions)
1.
Name of controlled organization
2.
Employer identification number
Exempt Controlled Organizations
3.
Net unrelated income (loss)
(see instructions)
4.
Total of specified payments made
5.
Part of column 4 that is included
in the controlling organization's
gross income
6.
Deductions directly connected with income in column 5
(1)
(2)
(3)
(4)
Nonexempt Controlled Organizations
7.
Taxable income
8.
Net unrelated
income (loss)
(see instructions)
9.
Total of specified payments made
10.
Part of column 9
that is included in the
controlling organization's
gross income
11.
Deductions directly connected with
income in column 10
(1)
(2)
(3)
(4)
Add columns 5 and 10.
Enter here and on Part I,
line 8, column (A)
Add columns 6 and 11.
Enter here and on Part I,
line 8, column (B)
Totals
.........................
0
0
Part VII
Investment Income of a Section 501(c)(7), (9), or (17) Organization
(see instructions)
1.
Description of income
2.
Amount of income
3.
Deductions directly connected
(attach statement)
4.
Set-asides
(attach statement)
5. Total deductions and set-asides
(add columns 3 and 4)
(1)
(2)
(3)
(4)
Totals
.........
Add amounts in column 2.
Enter here and on Part I,
line 9, column (A)
0
Add amounts in column 5.
Enter here and on Part I,
line 9, column (B)
0
Part VIII
Exploited Exempt Activity Income, Other Than Advertising Income
(see instructions)
1
Description of exploited activity:
2
Gross unrelated business income from trade or business. Enter here and on Part I, line 10, column (A)
...
2
3
Expenses directly connected with production of unrelated business income. Enter here and on Part I, line 10, column (B)
...............................
3
4
Net income (loss) from unrelated trade or business. Subtract line 3 from line 2. If a gain, complete
lines 5 through 7
.............................
4
5
Gross income from activity that is not unrelated business income
..............
5
6
Expenses attributable to income entered on line 5
...................
6
7
Excess exempt expenses. Subtract line 5 from line 6, but do not enter more than the amount on line 4. Enter here and on Part II, line 12
..........................
7
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
4
Part IX
Advertising Income
1
Name(s) of periodical(s). Check box if reporting two or more periodicals on a consolidated basis.
A
B
C
D
Enter amounts for each periodical listed above in the corresponding column.
A
B
C
D
2
Gross advertising income
......
a
Add columns A through D. Enter here and on Part I, line 11, column (A)
.............
0
3
Direct Advertising costs by periodical
..
a
Add columns A through D. Enter here and on Part I, line 11, column (B)
.............
0
4
Advertising gain (loss). Subtract line 3 from line 2. For any column in line 4 showing a gain, complete lines 5 through 8. For any column in line 4 showing a loss or zero, do not complete lines 5 through 7, and enter zero on line 8
............
5
Readership costs
........
6
Circulation income
........
7
Excess readership costs. If line 6 is less than line 5, subtract line 6 from line 5. If line 5 is less than line 6, enter zero
.....
8
Excess readership costs allowed as a deduction. For each column showing a gain on line 4, enter the lesser of line 4 or line 7
.
a
Add line 8, columns A through D. Enter the greater of the columns total or zero here and on Part II, line 13
..
0
Part X
Compensation of Officers, Directors, and Trustees
(see instructions)
1.
Name
2.
Title
3.
Percentage
of time devoted
to business
4.
Compensation
attributable to
unrelated business
(1)
WILLIAM G HUMPHRIES
CONTROLLER
4.950 %
17,191
(2)
JAMES M WILLIAMS
VP, TREASURER & CIO
5.000 %
125,640
(3)
BENJAMIN LIOU
MD EQTY & BONDS, AST TREAS
22.000 %
249,067
(4)
DAVID D HUGHES
ASST TREAS, MANAGING DIRECTOR
30.000 %
344,930
(5)
KATHARINE KRIEGER
CIO
5.000 %
10,577
(6)
BARBARA JESUELE
DEPUTY CHIEF INVESTMENT OFFICER
51.000 %
626,068
Total.
Enter here and on Part II, line 1
.........................
1,373,473
Part XI
Supplemental Information
(see instructions)
Part Number
Line Number
Explanation
Amount
II
17, NET OPERATING LOSS CARRYFORWARD
IN ACCORDANCE WITH REV. RUL. 81-88 AND REV. RUL. 82-49, THE TAXPAYER IS RESTATING ITS PRIOR YEAR NOL CARRYFORWARD SCHEDULE TO ACCOUNT FOR TWO FORMS 8986, PARTNER'S SHARE OF ADJUSTMENT(S) TO PARTNERSHIP-RELATED ITEMS, THAT AFFECTED THE NET OPERATING LOSS FOR THE TAX YEARS. TAXPAYER'S 2019 FORM 990-T FOR ITS FISCAL YEAR ENDING JUNE 30, 2020 THAT OVER REPORTED ITS UNRELATED BUSINESS TAXABLE LOSSES. THE NOL CARRYFORWARD HAS BEEN ADJUSTED TO REFLECT THOSE CHANGES.
II
17, NET OPERATING LOSS CARRYFORWARD
NET OPERATING LOSS AS ORIGINALLY REPORTED $11,287,077ADJUSTMENT RECEIVED IN 2022, EIN 47-1245315 25,605ADJUSTMENT RECEIVED IN 2022, EIN 82-1537188 536,065ADJUSTMENT RECEIVED IN 2023, EIN 82-4145968 (56,758)ADJUSTMENT RECEIVED IN 2023, EIN 45-4110691 (13,466)---------------------------------------------------------------------ADJUSTED TOTAL 2019 NET OPERATING LOSS $11,778,523
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 13,103,541 13,103,541 006/30/20 1,088,740 1,088,740 006/30/21 6,739,102 6,739,102 006/30/22 0 0 006/30/23 0 0 0TOTAL 20,931,383 20,931,383 0
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 398,377 0 398,37706/30/21 1,389,883 0 1,389,88306/30/22 276,933 0 276,93306/30/23 338,494 0 338,494TOTAL 2,403,687 0 2,403,687
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 2,732,550 476,094 2,256,45606/30/20 2,289,469 0 2,289,46906/30/21 110,764 0 110,76406/30/22 186,546 0 186,54606/30/23 0 0 0TOTAL 5,319,329 476,094 4,843,235
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 1,705,381 1,705,381 006/30/20 308,079 304,449 3,63006/30/21 1,363,554 0 1,363,55406/30/22 1,504,630 0 1,504,63006/30/23 0 0 0TOTAL 4,881,644 2,009,830 2,871,814
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 0 0 006/30/21 31,886 31,866 006/30/22 30,050 30,050 006/30/23 0 0 0TOTAL 61,916 61,916 0
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 0 0 006/30/21 0 0 006/30/22 0 0 0 06/30/23 0 0 0
Schedule A (Form 990-T) 2022
Additional Data
Software ID:
Software Version:
-
TIN:
SCHEDULE A
(Form 990-T)
Department of the Treasury
Internal Revenue Service
Unrelated Business Taxable Income
From an Unrelated Trade or Business
Go to
www.irs.gov/Form990T
for instructions and the latest information.
Do not enter SSN numbers on this form as it may be made public if your organization is a 501(c)(3).
OMB No. 1545-0047
20
22
Open to Public Inspection for 501(c)(3) Organizations Only
A
Name of the organization
THE J PAUL GETTY TRUST
B
Employer identification number
95-1790021
C
Unrelated business activity code (see instructions)
901101
D
Sequence:
1
of
6
E
Describe the unrelated trade or business
QUALIFYING PARTNERSHIP INVESTMENTS
Part I
Unrelated Trade or Business Income
(A) Income
(B) Expenses
(C) Net
1a
Gross receipts or sales
3,721,846
b
Less returns and allowances
c
Balance
1c
3,721,846
2
Cost of goods sold (Part III, line 8)
.........
2
1,623,305
3
Gross profit. Subtract line 2 from line 1c
.......
3
2,098,541
2,098,541
4a
Capital gain net income (attach Sch D (Form 1041 or Form
1120)) (see instructions)
............
4a
List of Attached Documents:
// Content
14,279,687
14,279,687
b
Net gain (loss) (Form 4797) (attach Form 4797)
(see instructions)
4b
List of Attached Documents:
// Content
1,288,458
1,288,458
c
Capital loss deduction for trusts
4c
5
Income (loss) from a partnership or an S corporation (attach statement)
................
5
List of Attached Documents:
// Content
40,516,539
40,516,539
6
Rent income (Part IV)
.............
6
0
0
7
Unrelated debt-financed income (Part V)
.......
7
0
0
8
Interest, annuities, royalties, and rents from a controlled
organization (Part VI)
.............
8
0
0
9
Investment income of section 501(c)(7), (9), or (17)
organizations (Part VII)
............
9
0
0
10
Exploited exempt activity income (Part VIII)
......
10
11
Advertising income (Part IX)
...........
11
0
0
12
Other income (see instructions; attach statement)
....
12
List of Attached Documents:
// Content
213,445
213,445
13
Total.
Combine lines 3 through 12
.........
13
56,298,129
0
56,298,129
Part II
Deductions Not Taken Elsewhere
(See instructions for limitations on deductions) Deductions must be directly connected with the unrelated business income
1
Compensation of officers, directors, and trustees (Part X)
.................
1
1,373,473
2
Salaries and wages
............................
2
441,223
3
Repairs and maintenance
..........................
3
11
4
Bad debts
...............................
4
2,073
5
Interest (attach statement) (see instructions)
...................
5
6
Taxes and licenses
.............................
6
9,887
7
Depreciation (attach Form 4562) (see instructions)
.........
7
8
Less depreciation claimed in Part III and elsewhere on return
.....
8a
8b
9
Depletion
...............................
9
5,901,844
10
Contributions to deferred compensation plans
.....................
10
11
Employee benefit programs
..........................
11
541,046
12
Excess exempt expenses (Part VIII)
.......................
12
13
Excess readership costs (Part IX)
........................
13
0
14
Other deductions (attach statement)
List of Attached Documents:
// Content
......................
14
13,057
15
Total deductions.
Add lines 1 through 14
.....................
15
8,280,530
16
Unrelated business income before net operating loss deduction. Subtract line 15 from Part I, line 13, column (C)
16
48,017,599
17
Deduction for net operating loss (see instructions)
List of Attached Documents:
// Content
..................
17
29,547,633
18
Unrelated business taxable income.
Subtract line 17 from line 16
.............
18
18,469,966
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 74036O
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
2
Part III
Cost of Goods Sold
Enter method of inventory valuation
1
Inventory at beginning of year
........................
1
484,377
2
Purchases
...............................
2
1,782,078
3
Cost of labor
..............................
3
0
4
Additional section 263A costs (attach statement)
..................
4
0
5
Other costs (attach statement)
........................
5
0
6
Total.
Add lines 1 through 5
..........................
6
2,266,455
7
Inventory at end of year
...........................
7
643,150
8
Cost of goods sold.
Subtract line 7 from line 6. Enter here and in Part I, line 2
..........
8
1,623,305
9
Do the rules of section 263A (with respect to property produced or acquired for resale) apply to the organization?
Yes
No
Part IV
Rent Income (From Real Property and Personal Property Leased with Real Property)
1
Description of property (property street address, city, state, ZIP code). Check if a dual-use (see instructions)
A
B
C
D
A
B
C
D
2
Rent received or accrued
a
From personal property (if the percentage of rent for personal property is more than 10% but not more than 50%)
......
b
From real and personal property (if the percentage of rent for personal property exceeds 50% or if the rent is based on profit or income)
..........
c
Total rents received or accrued by property. Add lines 2a and 2b, columns A through D
.
3
Total rents received or accrued. Add line 2c columns A through D. Enter here and on Part I, line 6, column (A)
.
0
4
Deductions directly connected with the income in lines 2(a) and 2(b) (attach statement)
.
5
Total deductions.
Add line 4 columns A through D. Enter here and on Part I, line 6, column (B)
.....
0
Part V
Unrelated Debt-Financed Income
(see instructions)
1
Description of debt-financed property (street address, city, state, ZIP code). Check if a dual-use (see instructions)
A
B
C
D
A
B
C
D
2
Gross income from or allocable to debt-financed property
........
3
Deductions directly connected with or allocable to debt-financed property
a
Straight line depreciation (attach statement)
b
Other deductions (attach statement)
...
c
Total deductions (add lines 3a and 3b, columns A through D)
..........
4
Amount of average acquisition debt on or allocable to debt-financed property (attach statement)
...........
5
Average adjusted basis of or allocable to debt-financed property (attach statement)
...
6
Divide line 4 by line 5
.......
%
%
%
%
7
Gross income reportable. Multiply line 2 by line 6
8
Total gross income
(add line 7, columns A through D). Enter here and on Part I, line 7, column (A)
....
0
9
Allocable deductions. Multiply line 3c by line 6
10
Total allocable deductions.
Add line 9, columns A through D. Enter here and on Part I, line 7, column (B)
..
0
11
Total dividends-received deductions
included in line 10
.................
0
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
3
Part VI
Interest, Annuities, Royalties, and Rents from Controlled Organizations
(see instructions)
1.
Name of controlled organization
2.
Employer identification number
Exempt Controlled Organizations
3.
Net unrelated income (loss)
(see instructions)
4.
Total of specified payments made
5.
Part of column 4 that is included
in the controlling organization's
gross income
6.
Deductions directly connected with income in column 5
(1)
(2)
(3)
(4)
Nonexempt Controlled Organizations
7.
Taxable income
8.
Net unrelated
income (loss)
(see instructions)
9.
Total of specified payments made
10.
Part of column 9
that is included in the
controlling organization's
gross income
11.
Deductions directly connected with
income in column 10
(1)
(2)
(3)
(4)
Add columns 5 and 10.
Enter here and on Part I,
line 8, column (A)
Add columns 6 and 11.
Enter here and on Part I,
line 8, column (B)
Totals
.........................
0
0
Part VII
Investment Income of a Section 501(c)(7), (9), or (17) Organization
(see instructions)
1.
Description of income
2.
Amount of income
3.
Deductions directly connected
(attach statement)
4.
Set-asides
(attach statement)
5. Total deductions and set-asides
(add columns 3 and 4)
(1)
(2)
(3)
(4)
Totals
.........
Add amounts in column 2.
Enter here and on Part I,
line 9, column (A)
0
Add amounts in column 5.
Enter here and on Part I,
line 9, column (B)
0
Part VIII
Exploited Exempt Activity Income, Other Than Advertising Income
(see instructions)
1
Description of exploited activity:
2
Gross unrelated business income from trade or business. Enter here and on Part I, line 10, column (A)
...
2
3
Expenses directly connected with production of unrelated business income. Enter here and on Part I, line 10, column (B)
...............................
3
4
Net income (loss) from unrelated trade or business. Subtract line 3 from line 2. If a gain, complete
lines 5 through 7
.............................
4
5
Gross income from activity that is not unrelated business income
..............
5
6
Expenses attributable to income entered on line 5
...................
6
7
Excess exempt expenses. Subtract line 5 from line 6, but do not enter more than the amount on line 4. Enter here and on Part II, line 12
..........................
7
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
4
Part IX
Advertising Income
1
Name(s) of periodical(s). Check box if reporting two or more periodicals on a consolidated basis.
A
B
C
D
Enter amounts for each periodical listed above in the corresponding column.
A
B
C
D
2
Gross advertising income
......
a
Add columns A through D. Enter here and on Part I, line 11, column (A)
.............
0
3
Direct Advertising costs by periodical
..
a
Add columns A through D. Enter here and on Part I, line 11, column (B)
.............
0
4
Advertising gain (loss). Subtract line 3 from line 2. For any column in line 4 showing a gain, complete lines 5 through 8. For any column in line 4 showing a loss or zero, do not complete lines 5 through 7, and enter zero on line 8
............
5
Readership costs
........
6
Circulation income
........
7
Excess readership costs. If line 6 is less than line 5, subtract line 6 from line 5. If line 5 is less than line 6, enter zero
.....
8
Excess readership costs allowed as a deduction. For each column showing a gain on line 4, enter the lesser of line 4 or line 7
.
a
Add line 8, columns A through D. Enter the greater of the columns total or zero here and on Part II, line 13
..
0
Part X
Compensation of Officers, Directors, and Trustees
(see instructions)
1.
Name
2.
Title
3.
Percentage
of time devoted
to business
4.
Compensation
attributable to
unrelated business
(1)
WILLIAM G HUMPHRIES
CONTROLLER
4.950 %
17,191
(2)
JAMES M WILLIAMS
VP, TREASURER & CIO
5.000 %
125,640
(3)
BENJAMIN LIOU
MD EQTY & BONDS, AST TREAS
22.000 %
249,067
(4)
DAVID D HUGHES
ASST TREAS, MANAGING DIRECTOR
30.000 %
344,930
(5)
KATHARINE KRIEGER
CIO
5.000 %
10,577
(6)
BARBARA JESUELE
DEPUTY CHIEF INVESTMENT OFFICER
51.000 %
626,068
Total.
Enter here and on Part II, line 1
.........................
1,373,473
Part XI
Supplemental Information
(see instructions)
Part Number
Line Number
Explanation
Amount
II
17, NET OPERATING LOSS CARRYFORWARD
IN ACCORDANCE WITH REV. RUL. 81-88 AND REV. RUL. 82-49, THE TAXPAYER IS RESTATING ITS PRIOR YEAR NOL CARRYFORWARD SCHEDULE TO ACCOUNT FOR TWO FORMS 8986, PARTNER'S SHARE OF ADJUSTMENT(S) TO PARTNERSHIP-RELATED ITEMS, THAT AFFECTED THE NET OPERATING LOSS FOR THE TAX YEARS. TAXPAYER'S 2019 FORM 990-T FOR ITS FISCAL YEAR ENDING JUNE 30, 2020 THAT OVER REPORTED ITS UNRELATED BUSINESS TAXABLE LOSSES. THE NOL CARRYFORWARD HAS BEEN ADJUSTED TO REFLECT THOSE CHANGES.
II
17, NET OPERATING LOSS CARRYFORWARD
NET OPERATING LOSS AS ORIGINALLY REPORTED $11,287,077ADJUSTMENT RECEIVED IN 2022, EIN 47-1245315 25,605ADJUSTMENT RECEIVED IN 2022, EIN 82-1537188 536,065ADJUSTMENT RECEIVED IN 2023, EIN 82-4145968 (56,758)ADJUSTMENT RECEIVED IN 2023, EIN 45-4110691 (13,466)---------------------------------------------------------------------ADJUSTED TOTAL 2019 NET OPERATING LOSS $11,778,523
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 13,103,541 13,103,541 006/30/20 1,088,740 1,088,740 006/30/21 6,739,102 6,739,102 006/30/22 0 0 006/30/23 0 0 0TOTAL 20,931,383 20,931,383 0
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 398,377 0 398,37706/30/21 1,389,883 0 1,389,88306/30/22 276,933 0 276,93306/30/23 338,494 0 338,494TOTAL 2,403,687 0 2,403,687
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 2,732,550 476,094 2,256,45606/30/20 2,289,469 0 2,289,46906/30/21 110,764 0 110,76406/30/22 186,546 0 186,54606/30/23 0 0 0TOTAL 5,319,329 476,094 4,843,235
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 1,705,381 1,705,381 006/30/20 308,079 304,449 3,63006/30/21 1,363,554 0 1,363,55406/30/22 1,504,630 0 1,504,63006/30/23 0 0 0TOTAL 4,881,644 2,009,830 2,871,814
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 0 0 006/30/21 31,886 31,866 006/30/22 30,050 30,050 006/30/23 0 0 0TOTAL 61,916 61,916 0
II
17, NET OPERATING LOSS CARRYFORWARD
SCHEDULE I - AMT NET OPERATING LOSS CARRYOVERTAX YEAR LOSS SUSTAINED LOSS PREV APPLIED LOSS AVAIL THIS YEAR06/30/19 0 0 006/30/20 0 0 006/30/21 0 0 006/30/22 0 0 0 06/30/23 0 0 0
Schedule A (Form 990-T) 2022
Additional Data
Software ID:
Software Version:
-
TIN:
SCHEDULE D
(Form 1041)
Department of the Treasury
Internal Revenue Service
Capital Gains and Losses
Attach to Form 1041, Form 5227, or Form 990-T.
Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10.
Go to
www.irs.gov/F1041
for instructions and the lastest information.
OMB No. 1545-0092
20
23
Name of estate or trust
Employer identification number
95-1790021
Note:
Form 5227 filers need to complete
only
Parts I and II.
Did you dispose of any investment(s) in a qualified opportunity fund during the tax year?
Yes.
No.
If "Yes",attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss.
Part I
Short-Term Capital Gains and LossesAssets Held One Year or Less (see instructions)
See instructions for how to figure the amounts to enter on the lines below.
This form may be easier to complete if you round off cents to whole dollars.
(d)
Proceeds
(sales price)
(e)
Cost
(or other basis)
(g)
Adjustments to gain or loss from Form(s) 8949, Part I, line 2, column (g)
(h)
Gain or (loss)
Subtract column (e) from column (d) and combine the result with column (g)
1a
Totals for all short-term transactions reported
on Form 1099-B for which basis was reported
to the IRS and for which you have no
adjustments (see instructions). However, if
you choose to report all these transactions
on Form 8949, leave this line blank and go
to line 1b
...........
1b
Totals for all transactions reported on Form(s) 8949
with
Box A
checked
.........
2
Totals for all transactions reported on Form(s) 8949
with
Box B
checked
.........
3
Totals for all transactions reported on Form(s) 8949
with
Box C
checked
.........
4
Short-term capital gain or (loss) from Forms 4684, 6252, 6781, and 8824
..........
4
5
Net short-term gain or (loss) from partnerships, S corporations, and other estates or trusts
....
5
51,927
6
Short-term capital loss carryover. Enter the amount, if any, from line 9 of the 2022 Capital Loss
Carryover Worksheet
...........................
6
(
)
7
Net short-term capital gain or (loss).
Combine lines 1a through 6 in column (h). Enter here and on Part III,
line 17, column (3)
........................
7
51,927
Part II
Long-Term Capital Gains and LossesAssets Held More Than One Year (see instructions)
See instructions for how to figure the amounts to enter on the lines below.
This form may be easier to complete if you round off cents to whole dollars.
(d)
Proceeds
(sales price)
(e)
Cost
(or other basis)
(g)
Adjustments to gain or loss from Form(s) 8949, Part II, line 2, column (g)
(h)
Gain or (loss)
Subtract column (e) from column (d) and combine the result with column (g)
8a
Totals for all long-term transactions reported
on Form 1099-B for which basis was reported
to the IRS and for which you have no
adjustments (see instructions). However, if
you choose to report all these transactions
on Form 8949, leave this line blank and go
to line 8b
...........
8b
Totals for all transactions reported on Form(s) 8949
with
Box D
checked
.........
9
Totals for all transactions reported on Form(s) 8949
with
Box E
checked
.........
10
Totals for all transactions reported on Form(s) 8949
with
Box F
checked
.........
11
Long-term capital gain or (loss) from Forms 2439, 4684, 6252, 6781, and 8824
........
11
12
Net long-term gain or (loss) from partnerships, S corporations, and other estates or trusts
.....
12
7,703,261
13
Capital gain distributions
..........................
13
14
Gain from Form 4797, Part I
.........................
14
6,542,795
15
Long-term capital loss carryover. Enter the amount, if any, from line 14 of the 2022 Capital Loss
Carryover Worksheet
...........................
15
(
)
16
Net long-term capital gain or (loss).
Combine lines 8a through 15 in column (h). Enter here and on Part III,
line 18a, column (3)
......................
16
14,246,056
For Paperwork Reduction Act Notice, see the Instructions for Form 1041.
Cat. No. 11376V
Schedule D (Form 1041) 2023
Schedule D (Form 1041) 2023
Page
2
Part III
Summary of Parts I and II
Caution:
Read the instructions
before
completing this part.
(1)
Beneficiaries’
(see instr.)
(2)
Estate’s
or trust’s
(3)
Total
17
Net short-term gain or (loss)
........
17
51,927
51,927
18
Net long-term gain or (loss):
a
Total for year
..............
18a
14,246,056
14,246,056
b
Unrecaptured section 1250 gain (see line 18 of the
wrksht.)
...............
18b
c
28% rate gain
..............
18c
19
Total net gain or (loss).
Combine lines 17 and 18a
19
14,297,983
14,297,983
Note:
If line 19, column (3), is a net gain, enter the gain on Form 1041, line 4 (or Schedule A (Form 990-T), Part I, line 4a). If lines 18a and 19, column (2), are net gains, go to Part V, and
don't
complete Part IV. If line 19, column (3), is a net loss, complete Part IV and the
Capital Loss Carryover Worksheet,
as necessary.
Part IV
Capital Loss Limitation
20
Enter here and enter as a (loss) on Form 1041, line 4 (or Schedule A (Form 990-T), Part I, line 4c, if a trust), the
smaller
of:
a
The loss on line 19, column (3)
or b
$3,000
....................
20
(
)
Note:
If the loss on line 19, column (3), is more than $3,000,
or
if Form 1041, page 1, line 23 (or Form 990-T, Part I, line 11), is a loss, complete the
Capital Loss Carryover Worksheet
in the instructions to figure your capital loss carryover.
Part V
Tax Computation Using Maximum Capital Gains Rates
Form 1041 filers.
Complete this part
only
if both lines 18a and 19 in column (2) are gains, or an amount is entered in Part I or Part II and there is an entry on Form 1041, line 2b(2),
and
Form 1041, line 23, is more than zero.
Caution:
Skip this part and complete the
Schedule D Tax Worksheet
in the instructions if:
•
Either line 18b, col. (2) or line 18c, col. (2) is more than zero, or
•
Both Form 1041, line 2b(1), and Form 4952, line 4g are more than zero, or
•
There are amounts on lines 4e and 4g of Form 4952.
Form 990-T trusts.
Complete this part
only
if both lines 18a and 19 are gains, or qualified dividends are included in income in Part I of Form 990-T,
and
Form 990-T, Part I, line 11, is more than zero. Skip this part and complete the
Schedule D Tax Worksheet
in the instructions if either line 18b, col. (2) or line 18c, col. (2) is more than zero.
21
Enter taxable income from Form 1041, line 23 (or Form 990-T, Part I, line 11)
21
3,743,043
22
Enter the
smaller
of line 18a or 19 in
column (2) but not less than zero
...
22
14,246,056
23
Enter the estate’s or trust’s qualified
dividends from Form 1041, line 2b(2) (or
enter the qualified dividends included in
income in Part I of Form 990-T)
....
23
109,720
24
Add lines 22 and 23
.......
24
14,355,776
25
If the estate or trust is filing Form 4952,
enter the amount from line 4g; otherwise,
enter -0-
..........
25
0
26
Subtract line 25 from line 24. If zero or less, enter -0-
......
26
14,355,776
27
Subtract line 26 from line 21. If zero or less, enter -0-
......
27
0
28
Enter the
smaller
of the amount on line 21 or $3,000
.......
28
3,000
29
Enter the
smaller
of the amount on line 27 or line 28
.......
29
30
Subtract line 29 from line 28. If zero or less, enter -0-. This amount is taxed at 0%
......
30
3,000
31
Enter the
smaller
of line 21 or line 26
............
31
3,743,043
32
Subtract line 30 from line 26
...............
32
14,352,776
33
Enter the
smaller
of line 21 or $14,650
...........
33
14,650
34
Add lines 27 and 30
.................
34
3,000
35
Subtract line 34 from line 33. If zero or less, enter -0-
......
35
11,650
36
Enter the
smaller
of line 32 or line 35
...........
36
11,650
37
Multiply line 36 by 15% (0.15)
.......................
37
1,748
38
Enter the amount from line 31
..............
38
3,743,043
39
Add lines 30 and 36
.................
39
14,650
40
Subtract line 39 from line 38. If zero or less, enter -0-
......
40
3,728,393
41
Multiply line 40 by 20% (0.20)
.......................
41
745,679
42
Figure the tax on the amount on line 27. Use the 2023 Tax Rate Schedule
for Estates and Trusts (see the Schedule G instructions in the Instructions
for Form 1041)
...................
42
0
43
Add lines 37, 41, and 42
................
43
747,427
44
Figure the tax on the amount on line 21. Use the 2023 Tax Rate Schedule
for Estates and Trusts (see the Schedule G instructions in the Instructions
for Form 1041)
...................
44
1,383,070
45
Tax on all taxable income.
Enter the
smaller
of line 43 or line 44 here and on Form 1041, Schedule G,
Part I, line 1a (or Form 990-T, Part II, line 2)
..................
45
747,427
Schedule D (Form 1041) 2023
Additional Data
Software ID:
Software Version:
-
TIN:
SCHEDULE I
(Form 1041)
Department of the Treasury
Internal Revenue Service
Alternative Minimum Tax
Estates and Trusts
Attach to Form 1041
Go to
www.irs.gov/Form1041
for instructions and the latest information.
OMB No. 1545-0092
20
23
Name of estate or trust
Employer identification number
95-1790021
Part I
Estate's or Trust's Share of Alternative Minimum Taxable Income
1
Adjusted total income or (loss) (from Form 1041, line 17).
ESBTs,
see instructions
........
1
3,744,043
2
Interest
...............................
2
3
Taxes
................................
3
9,887
4
Refund of taxes
.............................
4
(
)
5
Depletion (difference between regular tax and AMT)
.................
5
15,477
6
Net operating loss deduction. Enter as a positive amount
...............
6
41,181,706
7
Interest from specified private activity bonds exempt from the regular tax
..........
7
8
Qualified small business stock (see instructions)
..................
8
9
Exercise of incentive stock options (excess of AMT income over regular tax income)
......
9
10
Other estates and trusts (amount from Schedule K-1 (Form 1041), box 12, code A)
.......
10
11
Disposition of property (difference between AMT and regular tax gain or loss)
.........
11
-85,714
12
Depreciation on assets placed in service after 1986 (difference between regular tax and AMT)
...
12
-251,301
13
Passive activities (difference between AMT and regular tax income or loss)
..........
13
14
Loss limitations (difference between AMT and regular tax income or loss)
...........
14
15
Circulation costs (difference between regular tax and AMT)
...............
15
16
Long-term contracts (difference between AMT and regular tax income)
...........
16
17
Mining costs (difference between regular tax and AMT)
................
17
18
Research and experimental costs (difference between regular tax and AMT)
.........
18
19
Income from certain installment sales before January 1, 1987
..............
19
(
)
20
Intangible drilling costs preference
.......................
20
21
Other adjustments, including income-based related adjustments
.............
21
28,613
22
Alternative tax net operating loss deduction (See the instructions for the limitation that applies.)
...
22
(
543,470
)
23
Adjusted alternative minimum taxable income. Combine lines 1 through 22
..........
23
44,099,241
Complete Part II below before going to line 24.
24
Income distribution deduction from Part II, line 42
........
24
25
Estate tax deduction (from Form 1041, line 19)
.........
25
26
Add lines 24 and 25
..........................
26
27
Estate's or trust's share of alternative minimum taxable income. Subtract line 26 from line 23
...
27
44,099,241
If line 27 is:
• $28,400 or less, stop here and enter -0- on Form 1041, Schedule G, line 1c. The estate or trust isn't liable for the alternative minimum tax.
• Over $28,400, but less than $208,200, go to line 43.
• $208,200 or more, enter the amount from line 27 on line 49 and go to line 50.
•
ESBT's,
see instructions.
Part II
Income Distribution Deduction on a Minimum Tax Basis
28
Adjusted alternative minimum taxable income (see instructions)
.............
28
29
Adjusted tax-exempt interest (other than amounts included on line 7)
...........
29
30
Total net gain from Schedule D (Form 1041), line 19, column (1). If a loss, enter -0-
.......
30
31
Capital gains for the tax year allocated to corpus and paid or permanently set aside for charitable
purposes (from Form 1041, Schedule A, line 4)
...................
31
32
Capital gains paid or permanently set aside for charitable purposes from gross income (see instructions)
32
33
Capital gains computed on a minimum tax basis included on line 23
............
33
(
)
34
Capital losses computed on a minimum tax basis included on line 23. Enter as a positive amount
..
34
35
Distributable net alternative minimum taxable income (DNAMTI). Combine lines 28 through 34. If zero
or less, enter -0-
...........................
35
36
Income required to be distributed currently (from Form 1041, Schedule B, line 9)
........
36
37
Other amounts paid, credited, or otherwise required to be distributed (from Form 1041, Schedule B, line 10)
37
38
Total distributions. Add lines 36 and 37
.....................
38
39
Tax-exempt income included on line 38 (other than amounts included on line 7)
........
39
40
Tentative income distribution deduction on a minimum tax basis. Subtract line 39 from line 38
...
40
For Paperwork Reduction Act Notice, see the Instructions for Form 1041.
Cat. No. 51517Q
Schedule I (Form 1041) (2023)
Schedule I (Form 1041) (2023)
Page
2
Part II
Income Distribution Deduction on a Minimum Tax Basis
(continued)
41
Tentative income distribution deduction on a minimum tax basis. Subtract line 29 from line 35. If zero or
less, enter -0-
............................
41
42
Income distribution deduction on a minimum tax basis.
Enter the smaller of line 40 or line 41. Enter here
and on line 24
............................
42
Part III
Alternative Minimum Tax
43
Exemption amount
............................
43
$28,400
44
Enter the amount from line 27
...............
44
44,099,241
45
Phase-out of exemption amount
..............
45
$94,600
46
Subtract line 45 from line 44. If zero or less, enter -0-
.......
46
47
Multiply line 46 by 25% (0.25)
.........................
47
48
Subtract line 47 from line 43. If zero or less, enter -0-
.................
48
49
Subtract line 48 from line 44
.........................
49
44,099,241
50
Go to Part IV of Schedule I to figure line 50 if the estate or trust has qualified dividends or has a gain on lines 18a and 19 of column (2) of Schedule D (Form 1041) (as refigured for the AMT, if necessary). Otherwise, if line 49 is:
• $220,700 or less, multiply line 49 by 26% (0.26).
• Over $220,700, multiply line 49 by 28% (0.28) and subtract $4,414 from the result
......
50
11,194,828
51
Alternative minimum foreign tax credit (see instructions)
................
51
81,722
52
Tentative minimum tax. Subtract line 51 from line 50
.................
52
11,113,106
53
Enter the tax from Form 1041, Schedule G, line 1a (minus any foreign tax credit from Schedule G, line 2a)
53
742,419
54
Alternative minimum tax.
Subtract line 53 from line 52. If zero or less, enter -0-. Enter here and on Form
1041, Schedule G, line 1c
..........................
54
10,370,687
Part IV
Line 50 Computation Using Maximum Capital Gains Rates
Caution:
If you didn't complete Part V of Schedule D (Form 1041), the Schedule D Tax Worksheet, or the Qualified Dividends Tax Worksheet in the Instructions for Form 1041, see the instructions before completing this part.
55
Enter the amount from line 49
.......................
55
44,099,241
56
Enter the amount from Schedule D (Form 1041), line 26, line 13 of the Schedule D Tax Worksheet, or line 4 of the Qualified Dividends Tax Worksheet in the Instructions for Form 1041, whichever applies (as
refigured for the AMT, if necessary)
.............
56
14,342,040
57
Enter the amount from Schedule D (Form 1041), line 18b, column (2) (as refigured for the AMT, if necessary). If you didn't complete Schedule D for
the regular tax or the AMT, enter -0-
.............
57
58
If you didn't complete a Schedule D Tax Worksheet for the regular tax or the AMT, enter the amount from line 56. Otherwise, add lines 56 and 57 and enter the
smaller
of that result or the amount from line 10 of the
Schedule D Tax Worksheet (as refigured for the AMT, if necessary)
..
58
14,342,040
59
Enter the
smaller
of line 55 or line 58
......................
59
14,342,040
60
Subtract line 59 from line 55
.........................
60
29,757,201
61
If line 60 is $220,700 or less, multiply line 60 by 26% (0.26). Otherwise, multiply line 60 by 28% (0.28)
and subtract $4,414 from the result
......................
61
8,327,602
62
Maximum amount subject to the 0% rate
...........
62
$3,000
63
Enter the amount from line 27 of Schedule D (Form 1041), line 14 of the
Schedule D Tax Worksheet, or line 5 of the Qualified Dividends Tax
Worksheet in the instructions for Form 1041, whichever applies (as figured
for the regular tax). If you didn't complete Schedule D or either worksheet
for the regular tax, enter the amount from Form 1041, line 22;
if zero or less, enter -0-
................
63
0
64
Subtract line 63 from line 62. If zero or less, enter -0-
.......
64
3,000
65
Enter the
smaller
of line 55 or line 56
............
65
14,342,040
66
Enter the
smaller
of line 64 or line 65. This amount is taxed at 0%
...
66
3,000
67
Subtract line 66 from line 65
...............
67
14,339,040
Schedule I (Form 1041) (2023)
Schedule I (Form 1041) (2023)
Page
3
Part IV
Line 50 Computation Using Maximum Capital Gains Rates
(continued)
68
Maximum amount subject to rates below 20%
.........
68
$14,650
69
Enter the amount from line 64
..............
69
3,000
70
Enter the amount from line 27 of Schedule D (Form 1041), line 18 of the
Schedule D Tax Worksheet, or line 5 of the Qualified Dividends Tax
Worksheet, whichever applies (as figured for the regular tax). If you didn't
complete Schedule D or either worksheet for the regular tax, enter the
amount from Form 1041, line 22; if zero or less, enter -0-
....
70
71
Add lines 69 and 70
..................
71
3,000
72
Subtract line 71 from line 68. If zero or less, enter -0-
......
72
11,650
73
Enter the
smaller
of line 67 or 72
..............
73
11,650
74
Multiply line 73 by 15% (0.15)
.......................
74
1,748
75
Add lines 66 and 73
..................
75
14,650
If lines 75 and 55 are the same, skip lines 76 through 80 and go to line 81, Otherwise, go to line 76.
76
Subtract line 75 from line 65
...............
76
14,327,390
77
Multiply line 76 by 20% (0.20)
.......................
77
2,865,478
If line 57 is zero or blank, skip lines 78 through 80 and go to line 81. Otherwise, go to line 78.
78
Add lines 60, 75, and 76
................
78
79
Subtract line 78 from line 55
...............
79
80
Multiply line 79 by 25% (0.25)
.......................
80
81
Add lines 61, 74, 77 and 80
.........................
81
11,194,828
82
If line 55 is $220,700 or less, multiply line 55 by 26% (0.26). Otherwise, multiply line 55 by 28% (0.28)
and subtract $4,414 from the result
.......................
82
12,343,373
83
Enter the
smaller
of line 81 or line 82 here and on line 50
...............
83
11,194,828
Schedule I (Form 1041) (2023)
Additional Data
Software ID:
Software Version:
-
TIN:
Form
3800
Department of the Treasury
Internal Revenue Service
General Business Credit
Go to
www.irs.gov/Form3800
for instructions and the latest information.
You must include all pages of Form 3800 with your return.
OMB No. 1545-0895
20
23
Attachment Sequence No.
22
Name(s) shown on return
THE J PAUL GETTY TRUST
Identifying number
95-1790021
A
Corporate Alternative Minimum Tax (CAMT) and Base Erosion Anti-Abuse Tax (BEAT).
Are you both (a) an "applicable corporation" within the meaning of IRC 59(k)(1) for the CAMT, and (b) an "applicable taxpayer" within the meaning of IRC 59A(e) for the BEAT? See instructions
..................
Yes
No
Part I
Current Year Credit for Credits Not Allowed Against Tentative Minimum Tax (TMT)
Go to Part III before Parts I and II. See instructions.
1
General business credit from Part III, line 2, column (e)
...........
1
2
Passive activity credits from Part III, line 2, column (f)
2
3
Enter the applicable passive activity credits allowed for 2023. See instructions
.........
3
4
Carryforward of general business credit to 2023. See instructions for statement to attach.
.....
4
921,941
Check this box if the carryforward was changed or revised from the original reported amount
...
5
Carryback of general business credit from 2024. See instructions
..............
5
6
Add lines 1, 3, 4, and 5
...........................
6
921,941
Part II
Allowable Credit
7
Regular tax before credits:
Individuals. Enter the sum of the amounts from Form 1040, 1040-SR, or 1040-NR, line 16; and Schedule 2 (Form 1040), line 2.
Corporations. Enter the amount from Form 1120, Schedule J, Part I, line 1; or the applicable line of your return.
Estates and trusts. Enter the sum of the amounts from Form 1041, Schedule G, lines 1a and 1b, plus any Form 8978 amount included on line 1d; or the amount from the applicable line of your return.
.....
7
747,427
8
Alternative minimum tax:
Individuals. Enter the amount from Form 6251, line 11.
Corporations. Enter the amount from Form 4626, Part II, line 13.
Estates and trusts. Enter the amount from Schedule I (Form 1041), line 54.
.....
8
10,370,687
9
Add lines 7 and 8
.............................
9
11,118,114
10a
Foreign tax credit
..................
10a
5,008
b
Certain allowable credits (see instructions)
..........
10b
c
Add lines 10a and 10b
...........................
10c
5,008
11
Net income tax.
Subtract line 10c from line 9. If zero, skip lines 12 through 15 and enter -0- on line 16
11
11,113,106
12
Net regular tax.
Subtract line 10c from line 7. If zero or less, enter -0-
..
12
742,419
13
Enter 25% (0.25) of the excess, if any, of line 12 (line 11 for corporations)
over $25,000. See instructions
..............
13
179,355
14
Tentative minimum tax:
Individuals. Enter the amount from Form 6251, line 9.
Corporations. Enter -0-.
Estates and trusts. Enter the amount from Schedule I (Form 1041), line 52.
..
14
11,113,106
15
Enter the greater of line 13 or line 14
......................
15
11,113,106
16
Subtract line 15 from line 11. If zero or less, enter -0-
.................
16
0
17
Enter the
smaller
of line 6 or line 16
......................
17
C corporations:
See the line 17 instructions if there has been an ownership change, acquisition, or reorganization.
For Paperwork Reduction Act Notice, see separate instructions.
Cat. No. 12392F
Form
3800
(2023)
Form 3800 (2023)
Page
2
Part II
Allowable Credit
(Continued)
Note:
If you are not required to report any amounts on lines 22 or 24 below, skip lines 18 through 25 and enter -0- on line 26.
18
Multiply line 14 by 75% (0.75). See instructions
...................
18
19
Enter the greater of line 13 or line 18
.....................
19
20
Subtract line 19 from line 11. If zero or less, enter -0-
.................
20
21
Subtract line 17 from line 20. If zero or less, enter -0-
.................
21
22
Combine the amounts from line 3 of Part III, column (e), and line 2zz of Part IV, columns (e) and (f)
..
22
3,539
23
Passive activity credit from line 3 of Part III, column (f)
......
23
24
Enter the applicable passive activity credit allowed for 2023. See instructions
.........
24
25
Add lines 22 and 24
...........................
25
26
Empowerment zone and renewal community employment credit allowed. Enter the smaller of line 21 or line 25
26
0
27
Subtract line 13 from line 11. If zero or less, enter -0-
.................
27
10,933,751
28
Add lines 17 and 26
...........................
28
29
Subtract line 28 from line 27. If zero or less, enter -0-
.................
29
10,933,751
30
Enter the general business credit from line 5 of Part III, column (e)
.............
30
257,880
31
Reserved
...............................
31
32
Passive activity credits from line 5 of Part III, column (f)
......
32
33
Enter the applicable passive activity credits allowed for 2023. See instructions
.........
33
34
Carryforward of business credit to 2023. Enter the amount from line 5 of Part IV, column (f), and line 6 of
Part IV, column (g). See instructions for statement to attach
...............
34
Check this box if the carryforward was changed or revised from the original reported amount
...
35
Carryback of business credit from 2024. Enter the amount from line 5 of Part IV, column (e). See
instructions
..............................
35
36
Add lines 30, 33, 34, and 35
.........................
36
257,880
37
Enter the
smaller
of line 29 or line 36
.....................
37
257,880
38
Credit allowed for the current year.
Add lines 28 and 37.
Report the amount from line 38 (if smaller than the sum of Part I, line 6, and Part II, lines 25 and 36; see instructions) as indicated below or on the applicable line of your return.
Individuals. Schedule 3 (Form 1040), line 6a.
Corporations. Form 1120, Schedule J, Part I, line 5c.
Estates and trusts. Form 1041, Schedule G, line 2b.
...............
38
257,880
Form
3800
(2023)
Form 3800 (2023)
Page
3
Part III
Current Year General Business Credits (GBCs)
(see instructions). If there is more than one credit amount to report on lines 1a through 1zz, 3, or 4a through 4z, enter the number of items you have for that line in column (c) and complete Part V.
(a)
Current year credits from:
(b)
Elective payment or transfer registration number
(c)
# items
(d)
Pass-through or transfer credit entity EIN
(e)
Credits from non-passive activities
(f)
Current and prior year passive activity credit allowed for the current year
(g)
Credit transfer election amount (enter amounts transferred out as a negative amount)
(h)
Gross elective payment election amount
(i)
Net elective payment election amount
(j)
Combine columns (e), (f), and (g), less column (i)
1a
Form 3468, Part II
......
b
Form 7207
........
c
Form 6765
........
d
Form 3468, Part III
......
e
Form 8826
........
f
Form 8835, Part II
......
g
Form 7210
........
h
Form 8820
.......
i
Form 8874
........
j
Form 8881, Part I
......
k
Form 8882
........
l
Form 8864 (diesel)
......
m
Form 8896
........
n
Form 8906
........
o
Form 3468, Part IV
......
p
Form 8908
........
q
Reserved (45Z)
.......
r
Form 8910
........
s
Form 8911, Part II
......
t
Form 8830
........
u
Form 7213, Part II
......
v
Form 3468, Part V
......
w
Form 8932
........
x
Form 8933
........
y
Form 8936, Part II
......
z
Reserved
.........
aa
Form 8936, Part V
......
bb
Form 8904
........
cc
Form 7213, Part I
......
dd
Form 8881, Part II
......
ee
Form 8881, Part III
......
ff
Form 8864, Line 8
......
gg
Reserved (1gg)
.......
hh
Reserved (1hh)
.......
ii
Reserved (1ii)
........
jj
Reserved (1jj)
........
zz
Other credits
.......
2
Add lines 1a through 1zz
.....
Form
3800
(2023)
Form 3800 (2023)
Page
4
Part III
Current Year General Business Credits (GBCs)
(see instructions). If there is more than one credit amount to report on lines 1a through 1zz, 3, or 4a through 4z, enter the number of items you have for that line in column (c) and complete Part V.
(continued)
(a)
Current year credits from:
(b)
Elective payment or transfer registration number
(c)
# items
(d)
Pass-through or transfer credit entity EIN
(e)
Credits from non-passive activities
(f)
Current year and carryover passive activity credit
(g)
Credit transfer election amount (enter amounts transferred out as a negative amount)
(h)
Gross elective payment election amount
(i)
Net elective payment election amount
(j)
Combine columns (e), (f), and (g), less column (i)
3
Form 8844
........
3
98-1569469
1,843
1,843
4
Specified credits:
a
Form 3468, Part VI
......
b
Form 5884
........
7
98-1569469
7,791
7,791
c
Form 6478
........
d
Form 8586
........
5
81-0835161
22,749
22,749
e
Form 8835, Part II
......
98-1569469
468
468
f
Form 8846
........
g
Form 8900
........
h
Form 8941
........
i
Form 6765 ESB credit
.....
13
82-3221691
226,758
226,758
j
Form 8994
........
33-1192743
114
114
k
Form 3468, Part VII
......
l
Reserved (4l)
........
m
Reserved (4m)
........
z
Other specified credits
......
5
Add lines 4a through 4z
.....
257,880
257,880
6
Add lines 2, 3, and 5
......
28
259,723
259,723
Form
3800
(2023)
Form 3800 (2023)
Page
5
Part IV
Carryovers of General Business Credits (GBCs) or Eligible Small Business Credits (ESBCs)
(see instructions)
(a)
Credits carried over to tax year 2023
(b)
Check if non-passive
(c)
Year
(d)
Pass-through entity EIN
(e)
Credit carrybacks to current year
(f)
Carryforwards (excluding ESBCs)
(g)
Eligible small business credit (ESBC) carryforwards
1a
Form 3468, Part II (coal, gasification)
.....
b
Form 7207 (manufacturing production)
....
c
Form 6765 (research)
.........
X
2011
20-3924596
612,382
d
Form 3468, Part III (advanced energy)
....
e
Form 8826 (disabled access)
.......
f
Form 8835, Part II (renewable electricity)
....
X
2011
20-3782803
89,503
g
Form 7210 (clean hydrogen)
.......
h
Form 8820 (orphan drug)
........
i
Form 8874 (new markets)
........
j
Form 8881, Part I (pension plan startup)
....
k
Form 8882 (employer-provided child care)
....
l
Form 8864 (biodiesel and renewable diesel)
...
m
Form 8896 (low sulfur diesel fuel)
......
n
Form 8906 (distilled spirits)
........
o
Form 3468, Part IV (advanced manufacturing)
...
p
Form 8908 (energy-efficient home)
......
q
Reserved
.............
r
Form 8910 (alternative motor vehicle)
.....
s
Form 8911, Part II (alternative fuel refueling)
...
t
Form 8830 (enhanced oil recovery)
......
u
Form 7213, Part II (zero-emission nuclear production)
.
v
Form 3468, Part V (Reserved)
.......
w
Form 8932 (differential wage)
.......
x
Form 8933 (carbon oxide sequestration)
....
y
Form 8936, Part II (clean vehicle)
......
z
Reserved
.............
aa
Form 8936, Part V (commercial clean vehicle)
...
bb
Form 8904 (oil and gas production)
......
X
2020
46-5408240
123,590
cc
Form 7213, Part I (advanced nuclear production)
..
dd
Form 8881, Part II (pension auto enrollment)
...
ee
Form 8881, Part III (military spouse)
.....
ff
Form 8864 (sustainable aviation fuel mixture)
...
gg
Reserved
.............
hh
Reserved
.............
ii
Reserved
.............
jj
Reserved
.............
zz
Other
..............
X
2011
98-1017204
78,235
2
Credits for which only carryforwards are allowed:
a
Form 5884-A (employee retention)
......
b
Form 8586 (low-income housing)(pre-2008)
...
X
2019
04-3455023
2
c
Form 8845 (Indian employment)
......
X
2021
33-1192743
229
d
Form 8907 (nonconventional source fuel)
....
e
Form 8909 (energy efficient appliance)
....
f
Form 8923 (mine rescue team training)
....
g
Form 8834 (qualified plug-in electric vehicle)
...
h
Form 8931 (agricultural chemicals security)
...
i
Form 1065-B (GBCs from electing partnership)
...
j
Form 5884 (work opportunity pre-2007)
....
k
Form 6478 (alcohol fuel pre-2005)
.....
l
Form 8846 (employer taxes pre-2007)
....
Form
3800
(2023)
Form 3800 (2023)
Page
6
Part IV
Carryovers of General Business Credits (GBCs) or Eligible Small Business Credits (ESBCs)
(see instructions)
(continued)
(a)
Credits carried over to tax year 2023
(b)
Check if non-passive
(c)
Year
(d)
Pass-through entity EIN
(e)
Credit carrybacks to current year
(f)
Carryforwards (excluding ESBCs)
(g)
Eligible small business credit (ESBC) carryforwards
m
Form 8900 (railroad track maintenance pre-2008)
..
n
Trans-Alaska pipeline liability fund credit
....
o
Form 5884-A, Section A (employers affected by Hurricane Katrina, Rita, or Wilma)
.........
p
Form 5884-A, Section B (Hurricane Katrina housing)
.
q
Form 5884-A, Section A (affected Midwestern disaster area employers)
...........
r
Form 5884-A, Section B (employer housing)
...
s
Form 5884-B (new hire retention)
......
X
2011
18,000
t
Form 8847 (contributions to selected community development corporations)
........
u
Form 8861 (welfare to work)
.......
v
Form 8884 (New York Liberty Zone business employee)
w
Form 8942 (therapeutic drug)
.......
yy
yy Other credits (see instructions)
......
zz
Add lines 1a through 1zz and 2a through 2yy
...
921,941
3
Form 8844 (empowerment zone)
......
X
2020
98-0546998
1,696
4
Specified credits:
a
Form 3468, Part VI (energy)
........
b
Form 5884 (work opportunity)
.......
c
Form 6478 (biofuel producer)
.......
d
Form 8586 (low-income housing)(post-2007)
..
e
Form 8835 (renewable electricity)
......
f
Form 8846 (employer taxes)
.......
g
Form 8900 (railroad track maintenance)
....
h
Form 8941 (employer health insurance)
....
i
Form 6765 ESB credit (research)
......
j
Form 8994 (paid family and medical leave)
....
k
Form 3468, Part VII (rehabilitation)(post-2007)
..
l
Reserved (4l)
............
m
Reserved (4m)
...........
z
Other specified credits
.........
5
Add lines 4a through 4z
.........
6
Add lines 2zz, 3, and 5
.........
923,637
Form
3800
(2023)
Form 3800 (2023)
Page
7
Part V
Breakdown of Aggregate Amounts on Part III for Facility-by-Facility, Multiple Pass-Through Entities, etc.
(see instructions)
(a)
Line number from Part III
(b)
Elective payment or transfer registration number
(c)
Pass-through or transfer credit entity EIN
(d)
Current year credits from non-passive activities
(e)
Current year credits from passive activity before passive activity credit limitation
(f)
Credit transfer election amount
(g)
Gross elective payment election amount
(h)
Net elective payment election amount
(i)
Carryover of passive activity credit allowable in current year
1
Part III Line 3
98-0546998
82
2
Part III Line 3
98-1569469
3
3
Part III Line 3
85-3359677
1,758
4
Part III Line 4b
33-1192743
233
5
Part III Line 4b
98-0546998
3,213
6
Part III Line 4b
98-1569469
43
7
Part III Line 4b
82-2883287
1,997
8
Part III Line 4b
82-1494373
1,422
9
Part III Line 4b
83-1508514
656
10
Part III Line 4b
37-1875850
227
11
Part III Line 4d
20-5786733
537
12
Part III Line 4d
98-0546998
10,730
13
Part III Line 4d
26-3948344
503
14
Part III Line 4d
81-0835161
223
15
Part III Line 4d
83-1508514
10,756
16
Part III Line 4i
82-3221691
9
17
Part III Line 4i
46-3569764
3,245
18
Part III Line 4i
83-0916881
911
19
Part III Line 4i
83-4683233
16,156
20
Part III Line 4i
35-2575869
9,423
21
Part III Line 4i
33-1192743
186
22
Part III Line 4i
87-2300520
564
23
Part III Line 4i
98-1569469
238
24
Part III Line 4i
32-0432155
2,098
25
Part III Line 4i
82-2344815
72,919
26
Part III Line 4i
61-1695851
105,058
27
Part III Line 4i
81-1863836
7,187
28
Part III Line 4i
37-1875850
8,764
29
30
31
32
33
34
35
36
37
38
Form
3800
(2023)
Form 3800 (2023)
Page
8
Part VI
Breakdown of Aggregate Amounts in Part IV
(see instructions)
(a)
Line number
from Part IV
(b)
Check if non-passive
(c)
Year
(d)
Pass-through entity EIN
(e)
Credit carrybacks to current year
(f)
Carryforwards (excluding ESBCs)
(g)
Eligible small business credit (ESBC) carryforwards
1
Part IV Line 1c
X
2011
98-0509277
548
2
Part IV Line 1c
X
2012
98-0509277
956
3
Part IV Line 1c
X
2013
98-0509277
1,131
4
Part IV Line 1c
X
2014
98-0509277
866
5
Part IV Line 1c
X
2015
47-4317160
684
6
Part IV Line 1c
X
2016
98-0509277
1,958
7
Part IV Line 1c
X
2017
82-1928309
1,135
8
Part IV Line 1c
X
2018
80-0965931
376
9
Part IV Line 1c
X
2019
82-1928309
2,465
10
Part IV Line 1c
X
2020
82-1928309
2,372
11
Part IV Line 1c
X
2021
82-1928309
2,441
12
Part IV Line 1f
X
2011
20-8419824
6,333
13
Part IV Line 1f
X
2012
20-8419824
47
14
Part IV Line 1f
X
2013
20-8419824
4,507
15
Part IV Line 1f
X
2014
20-8419824
44,571
16
Part IV Line 1bb
X
2020
83-3780853
61,838
17
Part IV Line 1bb
X
2021
83-3780853
40,131
18
Part IV Line 1zz
X
2011
26-1326873
2
19
Part IV Line 1zz
X
2012
26-1326873
3
20
Part IV Line 1zz
X
2013
26-1326873
1
21
Part IV Line 1zz
X
2014
26-1870363
411
22
Part IV Line 1zz
X
2015
26-1870363
316
23
Part IV Line 1zz
X
2016
20-3924596
3
24
Part IV Line 1zz
X
2017
30-0568361
1,113
25
Part IV Line 1zz
X
2018
30-0568361
68
26
Part IV Line 1zz
X
2019
45-4110691
90
27
Part IV Line 2c
X
2021
33-1192743
130
28
Part IV Line 2c
X
2022
33-1192743
99
29
Part IV Line 3
X
2020
98-0546998
30
30
Part IV Line 3
X
2021
98-0546998
85
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
Form
3800
(2023)
Additional Data
Software ID:
Software Version:
-
TIN:
Form
8801
Department of the Treasury
Internal Revenue Service
Credit for Prior Year Minimum Tax—
Individuals, Estates, and Trusts
Attach to Form 1040, 1040-SR, 1040-NR, or 1041.
Go to
www.irs.gov/Form8801
for instructions and the latest information.
OMB No. 1545-1073
20
23
Attachment
Sequence No.
801
Name(s) shown on return
Identifying number
95-1790021
Part I
Net Minimum Tax on Exclusion Items
1
Combine lines 1 and 2e of your 2022 Form 6251. Estates and trusts, see instructions
....
1
2
Enter adjustments and preferences treated as exclusion items (see instructions)
.......
2
3
Minimum tax credit net operating loss deduction (see instructions)
...........
3
(
)
4
Combine lines 1, 2, and 3. If zero or less, enter -0- here and on line 15 and go to Part II. If more than $776,100 and you were married filing separately for 2022, see instructions
........
4
4,337,960
5
Enter: $118,100 if married filing jointly or qualifying surviving spouse for 2022; $75,900 if single or head of household for 2022; or $59,050 if married filing separately for 2022. Estates and trusts, enter $26,500
5
26,500
6
Enter: $1,079,800 if married filing jointly or qualifying surviving spouse for 2022; $539,900 if single, head
of household, or married filing separately for 2022. Estates and trusts, enter $88,300
.....
6
88,300
7
Subtract line 6 from line 4. If zero or less, enter -0- here and on line 8 and go to line 9
.....
7
4,249,660
8
Multiply line 7 by 25% (0.25)
.......................
8
1,062,415
9
Subtract line 8 from line 5. If zero or less, enter -0-.
9
0
10
Subtract line 9 from line 4. If zero or less, enter -0- here and on line 15 and go to Part II. Form 1040-NR filers, see instructions
.........................
10
4,337,960
11
•
If
for 2022
you filed Form 2555, see instructions for the amount to enter.
•
If
for 2022
you reported capital gain distributions directly on Form 1040, 1040-SR, or 1040-NR, line 7; you reported qualified dividends on Form 1040, 1040-SR, or 1040-NR, line 3a (Form 1041, line 2b(2));
or
you had a gain on both lines 15 and 16 of Schedule D (Form 1040) (lines 18a and 19, column (2), of Schedule D (Form 1041)), complete Part III of Form 8801 and enter the amount from line 55 here.
•
All others:
If line 10 is $206,100 or less ($103,050 or less if married filing separately for
2022), multiply line 10 by 26% (0.26). Otherwise, multiply line 10 by 28% (0.28) and
subtract $4,122 ($2,061 if married filing separately for 2022) from the result.
11
866,487
12
Minimum tax foreign tax credit on exclusion items (see instructions)
...........
12
13
Tentative minimum tax on exclusion items. Subtract line 12 from line 11
.........
13
866,487
14
Enter the amount from your 2022 Form 6251, line 10, or 2022 Form 1041, Schedule I, line 53
..
14
747,366
15
Net minimum tax on exclusion items.
Subtract line 14 from line 13. If zero or less, enter -0-
..
15
119,121
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 10002S
Form
8801
(2023)
Form 8801 (2023)
Page
2
Part II
Minimum Tax Credit and Carryforward to 2024
16
Enter the amount from your 2022 Form 6251, line 11, or 2022 Form 1041, Schedule I, line 54
..
16
5,552,874
17
Enter the amount from line 15
......................
17
119,121
18
Subtract line 17 from line 16. If less than zero, enter as a negative amount
.........
18
5,433,753
19
2022 credit carryforward.
Enter the amount from your 2022 Form 8801, line 26
......
19
8,723,224
20
Enter your 2022 unallowed qualified electric vehicle credit (see instructions)
........
20
21
Combine lines 18 through 20. If zero or less, stop here and see the instructions
.......
21
14,156,977
22
Enter your 2023 regular income tax liability minus allowable credits (see instructions)
.....
22
484,539
23
Enter the amount from your 2023 Form 6251, line 9, or 2023 Form 1041, Schedule I, line 52
..
23
11,113,106
24
Subtract line 23 from line 22. If zero or less, enter -0-
...............
24
0
25
Minimum tax credit.
Enter the
smaller
of line 21 or line 24. Also enter this amount on your 2023
Schedule 3 (Form 1040), line 6b; or Form 1041, Schedule G, line 2c
..........
25
26
Credit carryforward to 2024.
Subtract line 25 from line 21. Keep a record of this amount because you
may use it in future years
.......................
26
14,156,977
Form
8801
(2023)
Form 8801 (2023)
Page
3
Part III
Tax Computation Using Maximum Capital Gains Rates
Complete Part III only if you are required to do so by line 11 or by the Foreign Earned Income Tax Worksheet in the instructions.
Caution:
If you didn't complete the 2022 Qualified Dividends and Capital Gain Tax Worksheet, the 2022 Schedule D Tax Worksheet, or Part V of the 2022 Schedule D (Form 1041), see the instructions before completing this part.*
27
Enter the amount from Form 8801, line 10. If you filed Form 2555 for 2022, enter the
amount from line 3 of the Foreign Earned Income Tax Worksheet in the instructions
......
27
4,337,960
Caution:
If
for 2022
you filed Form 1041, or 2555, see the instructions before completing lines 28, 29, and 30.
28
Enter the amount from line 4 of your 2022 Qualified Dividends and Capital Gain Tax Worksheet, the
amount from line 13 of your 2022 Schedule D Tax Worksheet, or the amount from line 26 of the
2022 Schedule D (Form 1041), whichever applies (as refigured for the AMT, if necessary)*
...
28
13,567,494
If you figured your 2022 tax using the 2022 Qualified Dividends and Capital Gain Tax
Worksheet, skip line 29 and enter the amount from line 28 on line 30. Otherwise, go to line 29.
29
Enter the amount from line 19 of your 2022 Schedule D (Form 1040), or line 18b, column (2), of the 2022 Schedule D (Form 1041)
........................
29
30
Add lines 28 and 29, and enter the
smaller
of that result or the amount from line 10 of your 2022
Schedule D Tax Worksheet
.......................
30
13,567,494
31
Enter the
smaller
of line 27 or line 30
....................
31
4,337,960
32
Subtract line 31 from line 27
.......................
32
33
If line 32 is $206,100 or less ($103,050 or less if married filing separately for 2022), multiply line
32 by 26% (0.26). Otherwise, multiply line 32 by 28% (0.28) and subtract $4,122 ($2,061 if married
filing separately for 2022) from the result.
.................
33
34
Enter:
•
$83,350 if married filing jointly or qualifying surviving spouse for 2022,
•
$41,675 if single or married filing separately for 2022,
•
$55,800 if head of household for 2022, or
•
$2,800 for an estate or trust.
......
34
2,800
35
Enter the amount from line 5 of your 2022 Qualified Dividends and Capital Gain Tax Worksheet,
the amount from line 14 of your 2022 Schedule D Tax Worksheet, or the amount from line 27 of the
2022 Schedule D (Form 1041), whichever applies. If you didn't complete either worksheet or Part V
of the 2022 Schedule D (Form 1041), enter the amount from your 2022 Form 1040, 1040-SR, or 1040-NR, line 15, or 2022 Form 1041, line 23, whichever applies; if zero or less, enter -0-.
.......
35
36
Subtract line 35 from line 34. If zero or less, enter -0-
...............
36
2,800
37
Enter the
smaller
of line 27 or line 28
....................
37
4,337,960
38
Enter the
smaller
of line 36 or line 37
....................
38
2,800
39
Subtract line 38 from line 37
.......................
39
4,335,160
40
Enter:
•
$459,750 if single for 2022,
•
$258,600 if married filing separately for 2022,
•
$517,200 if married filing jointly or qualifying surviving spouse for 2022,
•
$488,500 if head of household for 2022, or
•
$13,700 for an estate or trust.
......
40
13,700
41
Enter the amount from line 36
.......................
41
2,800
42
Form 1040, 1040-SR, or 1040-NR filers, enter the amount from line 5 of your 2022 Qualified Dividends and Capital Gain Tax Worksheet or the amount from line 21 of your 2022 Schedule D Tax Worksheet, whichever applies. If you didn't complete either worksheet, see instructions. Form 1041 filers, enter the
amount from line 27 of your 2022 Schedule D (Form 1041) or line 18 of your 2022 Schedule D Tax
Worksheet, whichever applies. If you didn't complete either the worksheet or Part V of the 2022
Schedule D (Form 1041), enter the amount from your 2022 Form 1041, line 23; if zero or less,
enter -0-.
.............................
42
* The 2022 Qualified Dividends and Capital Gain Tax Worksheet is in the 2022 Instructions for Form 1040. The 2022 Schedule D Tax Worksheet is in the 2022 Instructions for Schedule D (Form 1040) (or the 2022 Instructions for Schedule D (Form 1041)).
Form
8801
(2023)
Form 8801 (2023)
Page
4
Part III
Tax Computation Using Maximum Capital Gains Rates
(continued)
43
Add lines 41 and 42
..........................
43
2,800
44
Subtract line 43 from line 40. If zero or less, enter -0-
...............
44
10,900
45
Enter the
smaller
of line 39 or line 44
....................
45
10,900
46
Multiply line 45 by 15% (0.15)
......................
46
1,635
47
Add lines 38 and 45
..........................
47
13,700
If lines 47 and 27 are the same, skip lines 48 through 52 and go to line 53. Otherwise, go to line 48.
48
Subtract line 47 from line 37
.......................
48
4,324,260
49
Multiply line 48 by 20% (0.20)
......................
49
864,852
If line 29 is zero or blank, skip lines 50 through 52 and go to line 53. Otherwise, go to line 50.
50
Add lines 32, 47, and 48
........................
50
51
Subtract line 50 from line 27
.......................
51
52
Multiply line 51 by 25% (0.25)
......................
52
53
Add lines 33, 46, 49, and 52
.......................
53
866,487
54
If line 27 is $206,100 or less ($103,050 or less if married filing separately for 2022), multiply line 27
by 26% (0.26). Otherwise, multiply line 27 by 28% (0.28) and subtract $4,122 ($2,061 if married filing
separately for 2022) from the result.
....................
54
1,210,507
55
Enter the
smaller
of line 53 or line 54 here and on line 11. If you filed Form 2555 for 2022, don't enter this amount on line 11. Instead, enter it on line 4 of the Foreign Earned Income Tax Worksheet in the instructions for line 11
.........................
55
866,487
Form
8801
(2023)
Additional Data
Software ID:
Software Version: