-
TIN:
Form
990-T
Department of the Treasury
Internal Revenue Service
Exempt Organization Business Income Tax Return
(and proxy tax under section 6033(e))
For calendar year 2024 or other tax year beginning
01-01-2024
and ending
12-31-2024
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
24
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 ROBERTS FOUNDATION
Number, street, and room or suite no. If a P.O. box, see instructions.
4640 CASS STREET PO BOX 9059
City or town, state or province, and ZIP or foreign postal code
SAN DIEGO
,
CA
92169
C
Book value of all assets at end of year
.....
8,700,413
D
Employer identification number
01-0549309
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)
...............
1
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
THE ORGANIZATION
4640 CASS STREET PO BOX 9059
SAN DIEGO
,
CA
92169
Telephone number
(858) 922-3893
Part I
Total Unrelated Business Taxable Income
1
Total of unrelated business taxable income computed from all unrelated trades or businesses (see instructions)
..............................
1
0
2
Reserved
..............................
2
3
Add lines 1 and 2
............................
3
0
4
Charitable contributions (see instructions for limitation rules)
..............
4
0
5
Total unrelated business taxable income before net operating losses. Subtract line 4 from line 3
....
5
6
Deduction for net operating loss. See instructions
.................
6
7
Total of unrelated business taxable income before specific deduction and section 199A deduction.
Subtract line 6 from line 5
.........................
7
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
0
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)
........
2
0
3
Proxy tax.
See instructions
.......................
3
4a
Amount from Form 4255, Part l, line 3, column (q)
..................
4a
4b
Other tax amounts. See instructions
....................
4b
5
Alternative minimum tax
.........................
5
6
Tax on noncompliant facility income.
See instructions
................
6
7
Total.
Add lines 3 through 6 to line 1 or 2, whichever applies
...............
7
0
Part III
Tax and Payments
1a
Foreign tax credit (corporations attach Form 1118; trusts attach Form 1116)
1a
b
Other credits (see instructions)
..............
1b
c
General business credit. Attach Form 3800 (see instructions)
.....
1c
d
Credit for prior year minimum tax (attach Form 8801 or 8827)
....
1d
e
Total credits.
Add lines 1a through 1d
.....................
1e
2
Subtract line 1e from Part II, line 7
.......................
2
0
3a
Amount from Form 4255, Part l, line 3, column (r) (see instructions)
..
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 amounts due. Add lines 3a through 3e
..................
3f
0
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
0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11291J
Form
990-T
(2024)
Form 990-T (2024)
Page
2
Part III
Tax and Payments
(continued)
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
b
Current Year's estimated tax payments. Check if section 643(g) election applies
6b
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
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
8
Estimated tax penalty (see instructions). Check if Form 2220 is attached
........
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
11
Enter the amount of line 10 you want:
Credited to 2025 estimated tax
Refunded
11
Part IV
Statements Regarding Certain Activities and Other Information
(see instructions)
1
At any time during the 2024 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
Yes
No
No
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. $
. 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
$
1,232
$
$
$
6a
Reserved for future use
.................................
b
Reserved for future use
.................................
Part V
Supplemental Information
Provide any additional information. See instructions.
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
(2024)
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
24
Open to Public Inspection for 501(c)(3) Organizations Only
A
Name of the organization
THE ROBERTS FOUNDATION
B
Employer identification number
01-0549309
C
Unrelated business activity code (see instructions)
901101
D
Sequence:
1
of
1
E
Describe the unrelated trade or business
QUALIFYING INVESTMENT PARTNERSHIP INCOME
Part I
Unrelated Trade or Business Income
(A) Income
(B) Expenses
(C) Net
1a
Gross receipts or sales
b
Less returns and allowances
c
Balance
1c
2
Cost of goods sold (Part III, line 8)
.........
2
3
Gross profit. Subtract line 2 from line 1c
.......
3
4a
Capital gain net income (attach Sch D (Form 1041 or Form
1120)) (see instructions)
............
4a
b
Net gain (loss) (Form 4797) (attach Form 4797)
(see instructions)
4b
c
Capital loss deduction for trusts
4c
5
Income (loss) from a partnership or an S corporation (attach statement)
................
5
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
13
Total.
Combine lines 3 through 12
.........
13
0
0
0
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
0
2
Salaries and wages
............................
2
3
Repairs and maintenance
..........................
3
4
Bad debts
...............................
4
5
Interest (attach statement) (see instructions)
...................
5
6
Taxes and licenses
.............................
6
7
Depreciation (attach Form 4562) (see instructions)
.........
7
8
Less depreciation claimed in Part III and elsewhere on return
.....
8a
8b
9
Depletion
...............................
9
10
Contributions to deferred compensation plans
.....................
10
11
Employee benefit programs
..........................
11
12
Excess exempt expenses (Part VIII)
.......................
12
13
Excess readership costs (Part IX)
........................
13
0
14
Other deductions (attach statement)
......................
14
15
Total deductions.
Add lines 1 through 14
.....................
15
0
16
Unrelated business income before net operating loss deduction. Subtract line 15 from Part I, line 13, column (C)
16
0
17
Deduction for net operating loss (see instructions)
..................
17
0
18
Unrelated business taxable income.
Subtract line 17 from line 16
.............
18
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 74036O
Schedule A (Form 990-T) 2024
Schedule A (Form 990-T) 2024
Page
2
Part III
Cost of Goods Sold
Enter method of inventory valuation
1
Inventory at beginning of year
........................
1
2
Purchases
...............................
2
3
Cost of labor
..............................
3
4
Additional section 263A costs (attach statement)
..................
4
5
Other costs (attach statement)
........................
5
6
Total.
Add lines 1 through 5
..........................
6
7
Inventory at end of year
...........................
7
8
Cost of goods sold.
Subtract line 7 from line 6. Enter here and in Part I, line 2
..........
8
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
745 5TH AVENUE 28TH FLOOR
NEW YORK
,
NY
10151
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%)
......
0
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)
..........
0
c
Total rents received or accrued by property. Add lines 2a and 2b, columns A through D
.
0
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)
.
0
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
745 5TH AVENUE 28TH
NEW YORK
,
NY
10151
B
C
D
A
B
C
D
2
Gross income from or allocable to debt-financed property
........
0
3
Deductions directly connected with or allocable to debt-financed property
a
Straight line depreciation (attach statement)
0
b
Other deductions (attach statement)
...
0
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)
...........
0
5
Average adjusted basis of or allocable to debt-financed property (attach statement)
...
0
6
Divide line 4 by line 5
.......
0 %
7
Gross income reportable. Multiply line 2 by line 6
0
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
0
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) 2024
Schedule A (Form 990-T) 2024
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)
QUALIFYING INVESTMENT PARTNERSHIP INCOME
0
0
0
0
(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) 2024
Schedule A (Form 990-T) 2024
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 line 8a, 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)
(2)
(3)
(4)
Total.
Enter here and on Part II, line 1
.........................
0
Part XI
Supplemental Information
(see instructions)
Schedule A (Form 990-T) 2024
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/Form1041
for instructions and the lastest information.
OMB No. 1545-0092
20
24
Name of estate or trust
THE ROBERTS FOUNDATION
Employer identification number
01-0549309
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
6
Short-term capital loss carryover. Enter the amount, if any, from line 9 of the 2023 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
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
13
Capital gain distributions
..........................
13
14
Gain from Form 4797, Part I
.........................
14
7
15
Long-term capital loss carryover. Enter the amount, if any, from line 14 of the 2023 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
7
For Paperwork Reduction Act Notice, see the Instructions for Form 1041.
Cat. No. 11376V
Schedule D (Form 1041) 2024
Schedule D (Form 1041) 2024
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
18
Net long-term gain or (loss):
a
Total for year
..............
18a
7
7
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
7
7
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
22
Enter the
smaller
of line 18a or 19 in
column (2) but not less than zero
...
22
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
24
Add lines 22 and 23
.......
24
25
If the estate or trust is filing Form 4952,
enter the amount from line 4g; otherwise,
enter -0-
..........
25
26
Subtract line 25 from line 24. If zero or less, enter -0-
......
26
27
Subtract line 26 from line 21. If zero or less, enter -0-
......
27
28
Enter the
smaller
of the amount on line 21 or $3,150
.......
28
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
31
Enter the
smaller
of line 21 or line 26
............
31
32
Subtract line 30 from line 26
...............
32
33
Enter the
smaller
of line 21 or $15,450
...........
33
34
Add lines 27 and 30
.................
34
35
Subtract line 34 from line 33. If zero or less, enter -0-
......
35
36
Enter the
smaller
of line 32 or line 35
...........
36
37
Multiply line 36 by 15% (0.15)
.......................
37
38
Enter the amount from line 31
..............
38
39
Add lines 30 and 36
.................
39
40
Subtract line 39 from line 38. If zero or less, enter -0-
......
40
41
Multiply line 40 by 20% (0.20)
.......................
41
42
Figure the tax on the amount on line 27. Use the 2024 Tax Rate Schedule
for Estates and Trusts (see the Schedule G instructions in the Instructions
for Form 1041)
...................
42
43
Add lines 37, 41, and 42
................
43
44
Figure the tax on the amount on line 21. Use the 2024 Tax Rate Schedule
for Estates and Trusts (see the Schedule G instructions in the Instructions
for Form 1041)
...................
44
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
Schedule D (Form 1041) 2024
Additional Data
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