-
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 2024 or other tax year beginning
07-01-2024
and ending
06-30-2025
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 J PAUL GETTY TRUST
Number, street, and room or suite no. If a P.O. box, see instructions.
1200 GETTY CENTER DRIVE SUITE 400
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
.....
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
53,025,398
2
Reserved
..............................
2
3
Add lines 1 and 2
............................
3
53,025,398
4
Charitable contributions (see instructions for limitation rules)
..............
4
26,512,199
5
Total unrelated business taxable income before net operating losses. Subtract line 4 from line 3
....
5
26,513,199
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
26,513,199
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
26,512,199
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
7,624,939
3
Proxy tax.
See instructions
.......................
3
4a
Amount from Form 4255, Part l, line 3, column (q)
..................
4a
4b
Other tax amounts. See instructions
List of Attached Documents:
// Content
....................
4b
62,707
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
7,687,646
Part III
Tax and Payments
1a
Foreign tax credit (corporations attach Form 1118; trusts attach Form 1116)
1a
List of Attached Documents:
// Content
1,255,009
b
Other credits (see instructions)
..............
1b
c
General business credit. Attach Form 3800 (see instructions)
.....
1c
List of Attached Documents:
// Content
259,024
d
Credit for prior year minimum tax (attach Form 8801 or 8827)
....
1d
e
Total credits.
Add lines 1a through 1d
.....................
1e
1,514,033
2
Subtract line 1e from Part II, line 7
.......................
2
6,173,613
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
6,173,613
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
5,269,309
b
Current Year's estimated tax payments. Check if section 643(g) election applies
6b
5,700,000
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
5,430
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
10,974,739
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
4,801,126
11
Enter the amount of line 10 you want:
Credited to 2025 estimated tax
4,801,126
Refunded
11
0
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
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. $
. 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
$
7,824,283
450000
$
2,826,182
210000
$
5,659,704
520000
$
2,615,757
530000
$
115,428
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:TRACE ENERGY RESOURCES FUND LP 47-3010122 $5,425WHEELOCK STREET REAL ESTATE FUND VII, LP 87-3639163 $5------------------------------------------TOTAL $5,430
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 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
3,683,215
b
Less returns and allowances
c
Balance
1c
3,683,215
2
Cost of goods sold (Part III, line 8)
.........
2
1,585,897
3
Gross profit. Subtract line 2 from line 1c
.......
3
2,097,318
2,097,318
4a
Capital gain net income (attach Sch D (Form 1041 or Form
1120)) (see instructions)
............
4a
List of Attached Documents:
// Content
11,485,923
11,485,923
b
Net gain (loss) (Form 4797) (attach Form 4797)
(see instructions)
4b
List of Attached Documents:
// Content
10,930,433
10,930,433
c
Capital loss deduction for trusts
4c
List of Attached Documents:
// Content
-2,985
-2,985
5
Income (loss) from a partnership or an S corporation (attach statement)
................
5
List of Attached Documents:
// Content
44,188,723
44,188,723
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
2,886,419
2,886,419
13
Total.
Combine lines 3 through 12
.........
13
69,491,498
0
69,491,498
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
110,739
2
Salaries and wages
............................
2
1,192,553
3
Repairs and maintenance
..........................
3
48
4
Bad debts
...............................
4
360
5
Interest (attach statement) (see instructions)
...................
5
6
Taxes and licenses
.............................
6
10,000
7
Depreciation (attach Form 4562) (see instructions)
List of Attached Documents:
// Content
.........
7
93,950
8
Less depreciation claimed in Part III and elsewhere on return
.....
8a
8b
93,950
9
Depletion
...............................
9
7,113,665
10
Contributions to deferred compensation plans
.....................
10
11
Employee benefit programs
..........................
11
388,651
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
43,019
15
Total deductions.
Add lines 1 through 14
.....................
15
8,858,627
16
Unrelated business income before net operating loss deduction. Subtract line 15 from Part I, line 13, column (C)
16
60,632,871
17
Deduction for net operating loss (see instructions)
List of Attached Documents:
// Content
..................
17
7,824,283
18
Unrelated business taxable income.
Subtract line 17 from line 16
.............
18
52,808,588
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
643,150
2
Purchases
...............................
2
1,771,928
3
Cost of labor
..............................
3
0
4
Additional section 263A costs (attach statement)
..................
4
0
5
Other costs (attach statement)
List of Attached Documents:
// Content
........................
5
0
6
Total.
Add lines 1 through 5
..........................
6
2,415,078
7
Inventory at end of year
...........................
7
829,181
8
Cost of goods sold.
Subtract line 7 from line 6. Enter here and in Part I, line 2
..........
8
1,585,897
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) 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)
(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)
WILLIAM G HUMPHRIES
CONTROLLER
4.950 %
18,115
(2)
KATHARINE KRIEGER
VP, TREASURER & CIO
5.000 %
92,624
(3)
(4)
Total.
Enter here and on Part II, line 1
.........................
110,739
Part XI
Supplemental Information
(see instructions)
Part Number
Line Number
Explanation
Amount
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $2,907,380
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $4,843,235
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $2,328,344
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $115,428
Schedule A (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 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
3,683,215
b
Less returns and allowances
c
Balance
1c
3,683,215
2
Cost of goods sold (Part III, line 8)
.........
2
1,585,897
3
Gross profit. Subtract line 2 from line 1c
.......
3
2,097,318
2,097,318
4a
Capital gain net income (attach Sch D (Form 1041 or Form
1120)) (see instructions)
............
4a
List of Attached Documents:
// Content
11,485,923
11,485,923
b
Net gain (loss) (Form 4797) (attach Form 4797)
(see instructions)
4b
List of Attached Documents:
// Content
10,930,433
10,930,433
c
Capital loss deduction for trusts
4c
List of Attached Documents:
// Content
-2,985
-2,985
5
Income (loss) from a partnership or an S corporation (attach statement)
................
5
List of Attached Documents:
// Content
44,188,723
44,188,723
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
2,886,419
2,886,419
13
Total.
Combine lines 3 through 12
.........
13
69,491,498
0
69,491,498
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
110,739
2
Salaries and wages
............................
2
1,192,553
3
Repairs and maintenance
..........................
3
48
4
Bad debts
...............................
4
360
5
Interest (attach statement) (see instructions)
...................
5
6
Taxes and licenses
.............................
6
10,000
7
Depreciation (attach Form 4562) (see instructions)
List of Attached Documents:
// Content
.........
7
93,950
8
Less depreciation claimed in Part III and elsewhere on return
.....
8a
8b
93,950
9
Depletion
...............................
9
7,113,665
10
Contributions to deferred compensation plans
.....................
10
11
Employee benefit programs
..........................
11
388,651
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
43,019
15
Total deductions.
Add lines 1 through 14
.....................
15
8,858,627
16
Unrelated business income before net operating loss deduction. Subtract line 15 from Part I, line 13, column (C)
16
60,632,871
17
Deduction for net operating loss (see instructions)
List of Attached Documents:
// Content
..................
17
7,824,283
18
Unrelated business taxable income.
Subtract line 17 from line 16
.............
18
52,808,588
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
643,150
2
Purchases
...............................
2
1,771,928
3
Cost of labor
..............................
3
0
4
Additional section 263A costs (attach statement)
..................
4
0
5
Other costs (attach statement)
List of Attached Documents:
// Content
........................
5
0
6
Total.
Add lines 1 through 5
..........................
6
2,415,078
7
Inventory at end of year
...........................
7
829,181
8
Cost of goods sold.
Subtract line 7 from line 6. Enter here and in Part I, line 2
..........
8
1,585,897
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) 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)
(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)
WILLIAM G HUMPHRIES
CONTROLLER
4.950 %
18,115
(2)
KATHARINE KRIEGER
VP, TREASURER & CIO
5.000 %
92,624
(3)
(4)
Total.
Enter here and on Part II, line 1
.........................
110,739
Part XI
Supplemental Information
(see instructions)
Part Number
Line Number
Explanation
Amount
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $2,907,380
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $4,843,235
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $2,328,344
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $115,428
Schedule A (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 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
3,683,215
b
Less returns and allowances
c
Balance
1c
3,683,215
2
Cost of goods sold (Part III, line 8)
.........
2
1,585,897
3
Gross profit. Subtract line 2 from line 1c
.......
3
2,097,318
2,097,318
4a
Capital gain net income (attach Sch D (Form 1041 or Form
1120)) (see instructions)
............
4a
List of Attached Documents:
// Content
11,485,923
11,485,923
b
Net gain (loss) (Form 4797) (attach Form 4797)
(see instructions)
4b
List of Attached Documents:
// Content
10,930,433
10,930,433
c
Capital loss deduction for trusts
4c
List of Attached Documents:
// Content
-2,985
-2,985
5
Income (loss) from a partnership or an S corporation (attach statement)
................
5
List of Attached Documents:
// Content
44,188,723
44,188,723
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
2,886,419
2,886,419
13
Total.
Combine lines 3 through 12
.........
13
69,491,498
0
69,491,498
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
110,739
2
Salaries and wages
............................
2
1,192,553
3
Repairs and maintenance
..........................
3
48
4
Bad debts
...............................
4
360
5
Interest (attach statement) (see instructions)
...................
5
6
Taxes and licenses
.............................
6
10,000
7
Depreciation (attach Form 4562) (see instructions)
List of Attached Documents:
// Content
.........
7
93,950
8
Less depreciation claimed in Part III and elsewhere on return
.....
8a
8b
93,950
9
Depletion
...............................
9
7,113,665
10
Contributions to deferred compensation plans
.....................
10
11
Employee benefit programs
..........................
11
388,651
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
43,019
15
Total deductions.
Add lines 1 through 14
.....................
15
8,858,627
16
Unrelated business income before net operating loss deduction. Subtract line 15 from Part I, line 13, column (C)
16
60,632,871
17
Deduction for net operating loss (see instructions)
List of Attached Documents:
// Content
..................
17
7,824,283
18
Unrelated business taxable income.
Subtract line 17 from line 16
.............
18
52,808,588
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
643,150
2
Purchases
...............................
2
1,771,928
3
Cost of labor
..............................
3
0
4
Additional section 263A costs (attach statement)
..................
4
0
5
Other costs (attach statement)
List of Attached Documents:
// Content
........................
5
0
6
Total.
Add lines 1 through 5
..........................
6
2,415,078
7
Inventory at end of year
...........................
7
829,181
8
Cost of goods sold.
Subtract line 7 from line 6. Enter here and in Part I, line 2
..........
8
1,585,897
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) 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)
(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)
WILLIAM G HUMPHRIES
CONTROLLER
4.950 %
18,115
(2)
KATHARINE KRIEGER
VP, TREASURER & CIO
5.000 %
92,624
(3)
(4)
Total.
Enter here and on Part II, line 1
.........................
110,739
Part XI
Supplemental Information
(see instructions)
Part Number
Line Number
Explanation
Amount
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $2,907,380
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $4,843,235
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $2,328,344
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $115,428
Schedule A (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 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
3,683,215
b
Less returns and allowances
c
Balance
1c
3,683,215
2
Cost of goods sold (Part III, line 8)
.........
2
1,585,897
3
Gross profit. Subtract line 2 from line 1c
.......
3
2,097,318
2,097,318
4a
Capital gain net income (attach Sch D (Form 1041 or Form
1120)) (see instructions)
............
4a
List of Attached Documents:
// Content
11,485,923
11,485,923
b
Net gain (loss) (Form 4797) (attach Form 4797)
(see instructions)
4b
List of Attached Documents:
// Content
10,930,433
10,930,433
c
Capital loss deduction for trusts
4c
List of Attached Documents:
// Content
-2,985
-2,985
5
Income (loss) from a partnership or an S corporation (attach statement)
................
5
List of Attached Documents:
// Content
44,188,723
44,188,723
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
2,886,419
2,886,419
13
Total.
Combine lines 3 through 12
.........
13
69,491,498
0
69,491,498
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
110,739
2
Salaries and wages
............................
2
1,192,553
3
Repairs and maintenance
..........................
3
48
4
Bad debts
...............................
4
360
5
Interest (attach statement) (see instructions)
...................
5
6
Taxes and licenses
.............................
6
10,000
7
Depreciation (attach Form 4562) (see instructions)
List of Attached Documents:
// Content
.........
7
93,950
8
Less depreciation claimed in Part III and elsewhere on return
.....
8a
8b
93,950
9
Depletion
...............................
9
7,113,665
10
Contributions to deferred compensation plans
.....................
10
11
Employee benefit programs
..........................
11
388,651
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
43,019
15
Total deductions.
Add lines 1 through 14
.....................
15
8,858,627
16
Unrelated business income before net operating loss deduction. Subtract line 15 from Part I, line 13, column (C)
16
60,632,871
17
Deduction for net operating loss (see instructions)
List of Attached Documents:
// Content
..................
17
7,824,283
18
Unrelated business taxable income.
Subtract line 17 from line 16
.............
18
52,808,588
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
643,150
2
Purchases
...............................
2
1,771,928
3
Cost of labor
..............................
3
0
4
Additional section 263A costs (attach statement)
..................
4
0
5
Other costs (attach statement)
List of Attached Documents:
// Content
........................
5
0
6
Total.
Add lines 1 through 5
..........................
6
2,415,078
7
Inventory at end of year
...........................
7
829,181
8
Cost of goods sold.
Subtract line 7 from line 6. Enter here and in Part I, line 2
..........
8
1,585,897
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) 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)
(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)
WILLIAM G HUMPHRIES
CONTROLLER
4.950 %
18,115
(2)
KATHARINE KRIEGER
VP, TREASURER & CIO
5.000 %
92,624
(3)
(4)
Total.
Enter here and on Part II, line 1
.........................
110,739
Part XI
Supplemental Information
(see instructions)
Part Number
Line Number
Explanation
Amount
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $2,907,380
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $4,843,235
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $2,328,344
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $115,428
Schedule A (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 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
3,683,215
b
Less returns and allowances
c
Balance
1c
3,683,215
2
Cost of goods sold (Part III, line 8)
.........
2
1,585,897
3
Gross profit. Subtract line 2 from line 1c
.......
3
2,097,318
2,097,318
4a
Capital gain net income (attach Sch D (Form 1041 or Form
1120)) (see instructions)
............
4a
List of Attached Documents:
// Content
11,485,923
11,485,923
b
Net gain (loss) (Form 4797) (attach Form 4797)
(see instructions)
4b
List of Attached Documents:
// Content
10,930,433
10,930,433
c
Capital loss deduction for trusts
4c
List of Attached Documents:
// Content
-2,985
-2,985
5
Income (loss) from a partnership or an S corporation (attach statement)
................
5
List of Attached Documents:
// Content
44,188,723
44,188,723
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
2,886,419
2,886,419
13
Total.
Combine lines 3 through 12
.........
13
69,491,498
0
69,491,498
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
110,739
2
Salaries and wages
............................
2
1,192,553
3
Repairs and maintenance
..........................
3
48
4
Bad debts
...............................
4
360
5
Interest (attach statement) (see instructions)
...................
5
6
Taxes and licenses
.............................
6
10,000
7
Depreciation (attach Form 4562) (see instructions)
List of Attached Documents:
// Content
.........
7
93,950
8
Less depreciation claimed in Part III and elsewhere on return
.....
8a
8b
93,950
9
Depletion
...............................
9
7,113,665
10
Contributions to deferred compensation plans
.....................
10
11
Employee benefit programs
..........................
11
388,651
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
43,019
15
Total deductions.
Add lines 1 through 14
.....................
15
8,858,627
16
Unrelated business income before net operating loss deduction. Subtract line 15 from Part I, line 13, column (C)
16
60,632,871
17
Deduction for net operating loss (see instructions)
List of Attached Documents:
// Content
..................
17
7,824,283
18
Unrelated business taxable income.
Subtract line 17 from line 16
.............
18
52,808,588
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
643,150
2
Purchases
...............................
2
1,771,928
3
Cost of labor
..............................
3
0
4
Additional section 263A costs (attach statement)
..................
4
0
5
Other costs (attach statement)
List of Attached Documents:
// Content
........................
5
0
6
Total.
Add lines 1 through 5
..........................
6
2,415,078
7
Inventory at end of year
...........................
7
829,181
8
Cost of goods sold.
Subtract line 7 from line 6. Enter here and in Part I, line 2
..........
8
1,585,897
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) 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)
(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)
WILLIAM G HUMPHRIES
CONTROLLER
4.950 %
18,115
(2)
KATHARINE KRIEGER
VP, TREASURER & CIO
5.000 %
92,624
(3)
(4)
Total.
Enter here and on Part II, line 1
.........................
110,739
Part XI
Supplemental Information
(see instructions)
Part Number
Line Number
Explanation
Amount
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $2,907,380
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $4,843,235
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $2,328,344
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $115,428
Schedule A (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 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
3,683,215
b
Less returns and allowances
c
Balance
1c
3,683,215
2
Cost of goods sold (Part III, line 8)
.........
2
1,585,897
3
Gross profit. Subtract line 2 from line 1c
.......
3
2,097,318
2,097,318
4a
Capital gain net income (attach Sch D (Form 1041 or Form
1120)) (see instructions)
............
4a
List of Attached Documents:
// Content
11,485,923
11,485,923
b
Net gain (loss) (Form 4797) (attach Form 4797)
(see instructions)
4b
List of Attached Documents:
// Content
10,930,433
10,930,433
c
Capital loss deduction for trusts
4c
List of Attached Documents:
// Content
-2,985
-2,985
5
Income (loss) from a partnership or an S corporation (attach statement)
................
5
List of Attached Documents:
// Content
44,188,723
44,188,723
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
2,886,419
2,886,419
13
Total.
Combine lines 3 through 12
.........
13
69,491,498
0
69,491,498
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
110,739
2
Salaries and wages
............................
2
1,192,553
3
Repairs and maintenance
..........................
3
48
4
Bad debts
...............................
4
360
5
Interest (attach statement) (see instructions)
...................
5
6
Taxes and licenses
.............................
6
10,000
7
Depreciation (attach Form 4562) (see instructions)
List of Attached Documents:
// Content
.........
7
93,950
8
Less depreciation claimed in Part III and elsewhere on return
.....
8a
8b
93,950
9
Depletion
...............................
9
7,113,665
10
Contributions to deferred compensation plans
.....................
10
11
Employee benefit programs
..........................
11
388,651
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
43,019
15
Total deductions.
Add lines 1 through 14
.....................
15
8,858,627
16
Unrelated business income before net operating loss deduction. Subtract line 15 from Part I, line 13, column (C)
16
60,632,871
17
Deduction for net operating loss (see instructions)
List of Attached Documents:
// Content
..................
17
7,824,283
18
Unrelated business taxable income.
Subtract line 17 from line 16
.............
18
52,808,588
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
643,150
2
Purchases
...............................
2
1,771,928
3
Cost of labor
..............................
3
0
4
Additional section 263A costs (attach statement)
..................
4
0
5
Other costs (attach statement)
List of Attached Documents:
// Content
........................
5
0
6
Total.
Add lines 1 through 5
..........................
6
2,415,078
7
Inventory at end of year
...........................
7
829,181
8
Cost of goods sold.
Subtract line 7 from line 6. Enter here and in Part I, line 2
..........
8
1,585,897
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) 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)
(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)
WILLIAM G HUMPHRIES
CONTROLLER
4.950 %
18,115
(2)
KATHARINE KRIEGER
VP, TREASURER & CIO
5.000 %
92,624
(3)
(4)
Total.
Enter here and on Part II, line 1
.........................
110,739
Part XI
Supplemental Information
(see instructions)
Part Number
Line Number
Explanation
Amount
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $2,907,380
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $4,843,235
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $2,328,344
II
17
ALTERNATIVE MINIMUM TAX NOL CARRYFORWARD AVAILABLE FROM 2023 $115,428
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 J PAUL GETTY 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
11,750
5
Net short-term gain or (loss) from partnerships, S corporations, and other estates or trusts
....
5
-40,458
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
-28,708
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
17,624
12
Net long-term gain or (loss) from partnerships, S corporations, and other estates or trusts
.....
12
810,679
13
Capital gain distributions
..........................
13
14
Gain from Form 4797, Part I
.........................
14
10,683,343
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
11,511,646
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
-28,708
-28,708
18
Net long-term gain or (loss):
a
Total for year
..............
18a
11,511,646
11,511,646
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
11,482,938
11,482,938
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
26,512,199
22
Enter the
smaller
of line 18a or 19 in
column (2) but not less than zero
...
22
11,482,938
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
1,355,943
24
Add lines 22 and 23
.......
24
12,838,881
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
12,838,881
27
Subtract line 26 from line 21. If zero or less, enter -0-
......
27
13,673,318
28
Enter the
smaller
of the amount on line 21 or $3,150
.......
28
3,150
29
Enter the
smaller
of the amount on line 27 or line 28
.......
29
3,150
30
Subtract line 29 from line 28. If zero or less, enter -0-. This amount is taxed at 0%
......
30
0
31
Enter the
smaller
of line 21 or line 26
............
31
12,838,881
32
Subtract line 30 from line 26
...............
32
12,838,881
33
Enter the
smaller
of line 21 or $15,450
...........
33
15,450
34
Add lines 27 and 30
.................
34
13,673,318
35
Subtract line 34 from line 33. If zero or less, enter -0-
......
35
0
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
12,838,881
39
Add lines 30 and 36
.................
39
40
Subtract line 39 from line 38. If zero or less, enter -0-
......
40
12,838,881
41
Multiply line 40 by 20% (0.20)
.......................
41
2,567,776
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
5,057,163
43
Add lines 37, 41, and 42
................
43
7,624,939
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
9,807,549
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
7,624,939
Schedule D (Form 1041) 2024
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
24
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
26,513,199
2
Interest
...............................
2
3
Taxes
................................
3
10,000
4
Refund of taxes
.............................
4
(
)
5
Depletion (difference between regular tax and AMT)
.................
5
310
6
Net operating loss deduction. Enter as a positive amount
...............
6
8,691,524
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
170,004
12
Depreciation on assets placed in service after 1986 (difference between regular tax and AMT)
...
12
-18,659
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
-5,404
22
Alternative tax net operating loss deduction (See the instructions for the limitation that applies.)
...
22
(
878,079
)
23
Adjusted alternative minimum taxable income. Combine lines 1 through 22
..........
23
34,482,895
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
34,482,895
If line 27 is:
• $29,900 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 $29,900, but less than $219,300, go to line 43.
• $219,300 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) (2024)
Schedule I (Form 1041) (2024)
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
$29,900
44
Enter the amount from line 27
...............
44
34,482,895
45
Phase-out of exemption amount
..............
45
$99,700
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
34,482,895
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:
• $232,600 or less, multiply line 49 by 26% (0.26).
• Over $232,600, multiply line 49 by 28% (0.28) and subtract $4,652 from the result
......
50
8,623,448
51
Alternative minimum foreign tax credit (see instructions)
................
51
2,421,723
52
Tentative minimum tax. Subtract line 51 from line 50
.................
52
6,201,725
53
Enter the tax from Form 1041, Schedule G, line 1a (minus any foreign tax credit from Schedule G, line 2a)
53
6,432,637
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
0
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
34,482,895
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
12,838,881
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
12,838,881
59
Enter the
smaller
of line 55 or line 58
......................
59
12,838,881
60
Subtract line 59 from line 55
.........................
60
21,644,014
61
If line 60 is $232,600 or less, multiply line 60 by 26% (0.26). Otherwise, multiply line 60 by 28% (0.28)
and subtract $4,652 from the result
......................
61
6,055,672
62
Maximum amount subject to the 0% rate
...........
62
$3,150
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
13,673,318
64
Subtract line 63 from line 62. If zero or less, enter -0-
.......
64
0
65
Enter the
smaller
of line 55 or line 56
............
65
12,838,881
66
Enter the
smaller
of line 64 or line 65. This amount is taxed at 0%
...
66
67
Subtract line 66 from line 65
...............
67
12,838,881
Schedule I (Form 1041) (2024)
Schedule I (Form 1041) (2024)
Page
3
Part IV
Line 50 Computation Using Maximum Capital Gains Rates
(continued)
68
Maximum amount subject to rates below 20%
.........
68
$15,450
69
Enter the amount from line 64
..............
69
0
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
13,673,318
71
Add lines 69 and 70
..................
71
13,673,318
72
Subtract line 71 from line 68. If zero or less, enter -0-
......
72
73
Enter the
smaller
of line 67 or 72
..............
73
74
Multiply line 73 by 15% (0.15)
.......................
74
75
Add lines 66 and 73
..................
75
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
12,838,881
77
Multiply line 76 by 20% (0.20)
.......................
77
2,567,776
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
8,623,448
82
If line 55 is $232,600 or less, multiply line 55 by 26% (0.26). Otherwise, multiply line 55 by 28% (0.28)
and subtract $4,652 from the result
.......................
82
9,650,559
83
Enter the
smaller
of line 81 or line 82 here and on line 50
...............
83
8,623,448
Schedule I (Form 1041) (2024)
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
24
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 section 59(k)(1) for the CAMT, and (b) an “applicable taxpayer” within the meaning of section 59A(e) for the BEAT? See instructions
...........
Yes
No
Part I
Credits Not Allowed Against Tentative Minimum Tax (TMT)
Complete applicable portions of Parts III and IV before Parts I and II. See Instructions.
1
Credits not subject to the passive activity limit from Part III, line 2: combine column (e) with non-passive amounts from column (f).
..........
1
331,942
2
Credits subject to the passive activity limit. Combine from Part III, line 2, column (d), and passive amounts included on line 2, column (f); and Part IV, line 6, column (d)
............................
2
3
Enter the portion of line 2 allowed for 2024.
......................................
3
4
Enter the portion of Part IV, column (f), line 6, that is from carryforwards to 2024.
.........................
4
921,941
Check this box if the carryforward was changed or revised from the original reported amount
.....................
5
Enter the portion of Part IV, column (f), line 6, that is from carrybacks from 2025.
..........................
5
6
Add lines 1, 3, 4, and 5
............................................
6
1,253,883
Part II
Figuring Credit Allowed After Limitations
Section A - Figuring Credit Allowed After Section 38(c)(1) Limitation Based on Amount of Tax
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 1z.
Corporations. Enter the amount from Form 1120, Schedule J, Part I, line 2 (excluding the base erosion minimum tax entered on line 1f); or the applicable line of your return.
Estates and trusts. Enter the sum of the amounts from Form 1041, Schedule G, lines 1a, 1b and 1d, plus any Form 8978 amount included on line 1e; or the amount from the applicable line of your return.
.....
7
7,687,646
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
0
9
Add lines 7 and 8
..............................................
9
7,687,646
10a
Foreign tax credit
....................................
10a
1,255,009
b
Certain allowable credits (see instructions)
............................
10b
c
Add lines 10a and 10b
.............................................
10c
1,255,009
11
Net income tax.
Subtract line 10c from line 9. If zero, skip lines 12 through 15 and enter -0- on line 16
...................
11
6,432,637
12
Net regular tax.
Subtract line 10c from line 7. If zero or less, enter -0-
...................
12
6,432,637
13
Enter 25% (0.25) of the excess, if any, of line 12 (line 11 for corporations) over $25,000. See instructions
........
13
1,601,909
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
6,201,725
15
Enter the greater of line 13 or line 14
........................................
15
6,201,725
16
Subtract line 15 from line 11. If zero or less, enter -0-
...................................
16
230,912
17
Enter the
smaller
of line 6 or line 16. This is the amount of your credit allowed after the limitation of section 38(c)(1)
..............
17
230,912
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
(2024)
Form 3800 (2024)
Page
2
Part II
Figuring Credit Allowed After Limitations
(Continued)
Section B - Figuring Section 38(c)(2) Empowerment Zone and Community Renewal Employment Credit Allowed
.
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
4,651,294
19
Enter the greater of line 13 or line 18
........................................
19
4,651,294
20
Subtract line 19 from line 11. If zero or less, enter -0-
..................................
20
1,781,343
21
Subtract line 17 from line 20. If zero or less, enter -0-
..................................
21
1,550,431
22
Combine the amounts from line 3 of Part III, column (e), with the amount from line 3 of Part IV, column (f).
.................
22
3,539
23
Passive activity credit from line 3 of Part III, column (d) plus the amount from line 3 of Part IV, column (d)
........
23
24
Enter the applicable passive activity credit allowed for 2024. See instructions
...........................
24
25
Add lines 22 and 24
.............................................
25
3,539
26
Empowerment zone and renewal community employment credit allowed. Enter the smaller of line 21 or line 25
.................
26
3,539
Section C - Figuring the Specified Credit Amount Allowed Under Section 38(c)(4)
27
Subtract line 13 from line 11. If zero or less, enter -0-
..................................
27
4,830,728
28
Add lines 17 and 26
.............................................
28
234,451
29
Subtract line 28 from line 27. If zero or less, enter -0-
..................................
29
4,596,277
30
Enter the general business credit from line 5 of Part III: combine column (e) with non-passive amounts in column (f). See instructions
.........
30
24,573
31
Reserved
.................................................
31
32
Passive activity credits from line 5 of Part III: combine column (d) with passive amounts in column (f). See instructions
....
32
33
Enter the applicable passive activity credits allowed for 2024. See instructions
...........................
33
34
Carryforward of business credit to 2024. Enter the amount of carryforwards from line 7 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 2025. Enter the amount of carrybacks from line 7 of Part IV, column (g). See instructions
35
36
Add lines 30, 33, 34, and 35
..........................................
36
24,573
37
Enter the
smaller
of line 29 or line 36. This is the amount allowed for specified credits
........................
37
24,573
Section D - Credits Allowed After Limitations
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
259,024
Form
3800
(2024)
Form 3800 (2024)
Page
3
Part III
Current Year General Business Credits (GBCs)
(see instructions). If there is more than one number applicable for column (b) or (c) for a line in Part III, enter the number of such items in column (a), complete Part V, and see instructions for what to report on that line in Part III.
Current year credits from:
(a)
No. of items
(b)
Elective payment or transferor registration number
(c)
Pass-through or transferor credit entity EIN
(d)
Credits subject to the passive activity limit, before application of the limit
(e)
Credits not subject to the passive activity limits
(f)
Credit transfer election amount (enter amounts transferred out as a negative amount)
(g)
Combine columns (e) and (f) with the credit from column (d) allowed after the passive activity limit
(h)
Gross elective payment election (EPE) amount
(i)
Amount of column (g) applied against tax in Part II
(j)
Net EPE amount. Enter the smaller of column (h)
or
column (g) minus column (i)
1a
Form 3468, Part II
b
Form 7207
c
Form 6765
11
83-0916881
97,928
97,928
0
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
Form 7218, Part II
r
Reserved
s
Form 8911, Part I
2
37-1875850
3,337
3,337
0
t
Form 8830
u
Form 7213, Part II
v
Form 3468, Part V
w
Form 8932
2
33-1192743
758
758
0
x
Form 8933
y
Form 8936, Part II
z
Reserved
aa
Form 8936, Part V
bb
Form 8904
9
81-4227739
229,919
229,919
0
cc
Form 7213, Part I
dd
Form 8881, Part II
ee
Form 8881, Part III
ff
Form 8864, Line 8
gg
Form 7211, Part II
hh
Reserved
ii
Reserved
zz
Other credits
2
Add lines 1a through 1zz
24
331,942
331,942
0
0
Form
3800
(2024)
Form 3800 (2024)
Page
4
Part III
Current Year General Business Credits (GBCs)
(see instructions). If there is more than one number applicable for column (b) or (c) for a line in Part III, enter the number of such items in column (a), complete Part V, and see instructions for what to report on that line in Part III.
(continued)
Current year credits from:
(a)
No. of items
(b)
Elective payment or transferor registration number
(c)
Pass-through or transferor credit entity EIN
(d)
Credits subject to the passive activity limit, before application of the limit
(e)
Credits not subject to the passive activity limits
(f)
Credit transfer election amount (enter amounts transferred out as a negative amount)
(g)
Combine columns (e) and (f) with the credit from column (d) allowed after the passive activity limit
(h)
Gross elective payment election (EPE) amount
(i)
Amount of column (g) applied against tax in Part II
(j)
Net EPE amount. Enter the smaller of column (h)
or
column (g) minus column (i)
3
Form 8844
4
Specified credits:
a
Form 3468, Part VI
b
Form 5884
c
Form 6478
d
Form 8586
e
Form 8835, Part II
f
Form 8846
5
20-5786733
23,667
23,667
23,667
g
Form 8900
h
Form 8941
i
Form 6765 (ESB)
j
Form 8994
3
33-1192743
906
906
906
k
Form 3468, Part VII
l
Reserved
m
Reserved
z
Other specified credits
5
Add lines 4a-4z
8
24,573
24,573
24,573
0
6
Add lines 2, 3, and 5
32
356,515
356,515
24,573
0
Form
3800
(2024)
Form 3800 (2024)
Page
5
Part IV
Carryovers of General Business Credits (GBCs)
(see instructions)
Carryover
Credits carried over to tax year 2024
(a)
No. of items
(b)
Originating tax year
(c)
Pass-through entity EIN
Subject to the passive activity limits
(f)
Not subject to passive activity limits
(g)
Amount of columns (e) and (f) applied against tax in Part II
(h)
Amount of columns (e) and (f) recaptured or otherwise adjusted
(i)
Carryforward to 2025. Subtract the sum of columns (g) and (h) from the sum of columns (e) and (f)
(d)
Before
the passive activity limitations
(e)
After
the passive activity limitations
1a
Form 3468, Part II
b
Form 7207
c
Form 6765
120
2011
20-4573644
612,382
57,500
554,882
d
Form 3468, Part III
e
Form 8826
f
Form 8835, Part II
8
2011
20-3782803
89,503
89,503
g
Form 7210
h
Form 8820
i
Form 8874
j
Form 8881, Part I
k
Form 8882
l
Form 8864
m
Form 8896
n
Form 8906
o
Form 3468, Part IV
p
Form 8908
q
Reserved
r
Reserved
s
Form 8911
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
4
2020
46-5408240
123,590
123,590
cc
Form 7213, Part I
dd
Form 8881, Part II
ee
Form 8881, Part III
ff
Form 8864
gg
Reserved
hh
Reserved
ii
Reserved
jj
Reserved
zz
Other
77
2011
20-4573644
78,235
65,909
12,326
Form
3800
(2024)
Form 3800 (2024)
Page
6
Part IV
Carryovers of General Business Credits (GBCs)
(see instructions)
(continued)
Carryover
Credits carried over to tax year 2024
Note:
Credits on lines 2a through 2x are expired. Only carryforwards are allowed.
(a)
No. of items
(b)
Originating tax year
(c)
Pass-through entity EIN
Subject to the passive activity limits
(f)
Not subject to passive activity limits
(g)
Amount of columns (e) and (f) applied against tax in Part II
(h)
Amount of columns (e) and (f) recaptured or otherwise adjusted
(i)
Carryforward to 2025. Subtract the sum of columns (g) and (h) from the sum of columns (e) and (f)
(d)
Before
the passive activity limitations
(e)
After
the passive activity limitations
a
Form 5884-A
b
Form 8586 (pre-2008)
2019
04-3455023
2
2
c
Form 8845
2
2021
33-1192743
229
229
d
Form 8907
e
Form 8909
f
Form 8923
g
Form 8834
h
Form 8931
i
Form 1065-B
j
Form 5884 (pre-2007)
k
Form 6478 (pre-2005)
l
Form 8846 (pre-2007)
m
Form 8900 (pre-2008)
n
Trans-Alaska pipeline liability
o
Form 5884-A, Section A
p
Form 5884-A, Section B
q
Form 5884-A, Section A
r
Form 5884-A, Section B
s
Form 5884-B
2011
18,000
18,000
t
Form 8847
u
Form 8861
v
Form 8884
w
Form 8942
x
Form 8910
y
Reserved
z
Reserved
zz
Other credits (see inst.)
3
Form 8844
7
2020
98-0546998
3,539
3,539
Form
3800
(2024)
Form 3800 (2024)
Page
7
Part IV
Carryovers of General Business Credits (GBCs)
(see instructions)
(continued)
Carryover
Credits carried over to tax year 2024
(a)
No. of items
(b)
Originating tax year
(c)
Pass-through entity EIN
Subject to the passive activity limits
(f)
Not subject to passive activity limits
(g)
Amount of columns (e) and (f) applied against tax in Part II
(h)
Amount of columns (e) and (f) recaptured or otherwise adjusted
(i)
Carryforward to 2025. Subtract the sum of columns (g) and (h) from the sum of columns (e) and (f)
(d)
Before
the passive activity limitations
(e)
After
the passive activity limitations
4
Specified credits:
a
Form 3468, Part VI
b
Form 5884
c
Form 6478
d
Form 8586 (post-2007)
e
Form 8835
f
Form 8846
g
Form 8900
h
Form 8941
i
Form 6765 ESB credit
j
Form 8994
k
Form 3468, Part VII (post-2007)
l
Reserved
m
Reserved
y
ESBC (See inst.)
z
Other specified credits
5
Add lines 4a-4z
6
Add lines 1a through 2zz
211
921,941
141,409
691,029
7
Add lines 3, 5 and 6
218
925,480
144,948
691,029
Form
3800
(2024)
Form 3800 (2024)
Page
8
Part V
Breakdown of Aggregate Amounts on Part III for Facility-by-Facility, Multiple Pass-Through Entities, etc.
Credits subject to the passive activity limit
Not subject to the limit
(a)
Part III line number
(b)
Elective payment or transfer registration number
EINs
Before applying the limit
(d)(4)
Credits from column (d)(1) (less column (d)(2)) and (d)(3) allowed after limit
(e)
Credits other than transfer election credits
(f)(1)
Transfer election credits sold
(c)(1)
Pass-through entity EIN
(c)(2)
Transferor entity EIN
(d)(1)
Credits other than credit transfer election credits
(d)(2)
Credit transfer election credits sold
(d)(3)
Credit transfer election credits purchased
1
Part III Line 1c
83-0916881
(
)
6,487
(
)
2
Part III Line 1c
26-2208448
(
)
31
(
)
3
Part III Line 1c
35-2575869
(
)
9,911
(
)
4
Part III Line 1c
33-1192743
(
)
351
(
)
5
Part III Line 1c
87-2300520
(
)
279
(
)
6
Part III Line 1c
92-4010197
(
)
-2
(
)
7
Part III Line 1c
87-1192349
(
)
262
(
)
8
Part III Line 1c
47-1245315
(
)
185
(
)
9
Part III Line 1c
82-2344815
(
)
24,526
(
)
10
Part III Line 1c
61-1695851
(
)
41,932
(
)
11
Part III Line 1c
37-1875850
(
)
13,966
(
)
12
Part III Line 1s
37-1875850
(
)
155
(
)
13
Part III Line 1s
46-3569764
(
)
3,182
(
)
14
Part III Line 1w
33-1192743
(
)
19
(
)
15
Part III Line 1w
98-0500169
(
)
739
(
)
16
Part III Line 1bb
81-4227739
(
)
36,641
(
)
17
Part III Line 1bb
83-1270946
(
)
115,113
(
)
18
Part III Line 1bb
82-4131202
(
)
12,199
(
)
19
Part III Line 1bb
80-0860738
(
)
15
(
)
20
Part III Line 1bb
46-5408240
(
)
10,800
(
)
21
Part III Line 1bb
83-3780853
(
)
54,770
(
)
22
Part III Line 1bb
45-4110691
(
)
142
(
)
23
Part III Line 1bb
47-1245315
(
)
115
(
)
24
Part III Line 1bb
82-1537188
(
)
124
(
)
25
Part III Line 4f
20-5786733
(
)
9,290
(
)
26
Part III Line 4f
98-0546998
(
)
11,185
(
)
27
Part III Line 4f
26-3948344
(
)
879
(
)
28
Part III Line 4f
82-1494373
(
)
60
(
)
29
Part III Line 4f
83-1508514
(
)
2,253
(
)
30
Part III Line 4j
33-1192743
(
)
125
(
)
31
Part III Line 4j
84-4722720
(
)
204
(
)
32
Part III Line 4j
99-0633941
(
)
577
(
)
(f)(2)
Purchased transfer election credits not subject to the passive activity limit
(g)
Combine columns (d)(4), (e), (f)(1), and (f)(2)
(h)(1)
Gross EPE amount. Portion of column (g) eligible for the section 6417 EPE election
(h)(2)
Subtract column (h)(1) from column (g) (credit excluding EPE)
(i)(1)
Amount of column (h)(2) applied against tax in Part II
(i)(2)
Amount of EPE eligible credit in column (h)(1) applied against tax in Part II
(j)
Net EPE amount. Subtract (i)(2) from column (h)(1)
(k)
Carryforward to 2025. Subtract (i)(1) from column (h)(2)
1
6,487
0
6,487
2
31
0
31
3
9,911
0
9,911
4
351
0
351
5
279
0
279
6
-2
0
-2
7
262
0
262
8
185
0
185
9
24,526
0
24,526
10
41,932
0
41,932
11
13,966
0
13,966
12
155
0
155
0
0
0
155
13
3,182
0
3,182
0
0
0
3,182
14
19
0
19
15
739
0
739
16
36,641
0
36,641
17
115,113
0
115,113
18
12,199
0
12,199
19
15
0
15
20
10,800
0
10,800
21
54,770
0
54,770
22
142
0
142
23
115
0
115
24
124
0
124
25
9,290
9,290
0
26
11,185
11,185
0
27
879
879
0
28
60
60
0
29
2,253
2,253
0
30
125
125
0
31
204
204
0
32
577
577
0
Form
3800
(2024)
Form 3800 (2024)
Page
9
Part VI
Breakdown of Aggregate Amounts in Part IV
(see instructions)
Carryover
(a)
Line number from Part IV
(b)
Originating tax year
(c)
Pass-through entity EIN
Subject to the passive activity limits
(f)
Not subject to passive activity limits
(g)
Amount of columns (e) and (f) applied against tax in Part II
(h)
Amount of columns (e) and (f) recaptured or otherwise adjusted
(i)
Carryforward to 2025. Subtract the sum of columns (g) and (h) from the sum of columns (e) and (f)
(d)
Before
the passive activity limitations
(e)
After
the passive activity limitations
1
Part IV Line 1c
2011
98-0509277
548
0
0
0
2
Part IV Line 1c
2012
98-0509277
956
0
0
0
3
Part IV Line 1c
2013
98-0509277
1,131
0
0
0
4
Part IV Line 1c
2014
98-0509277
866
0
0
0
5
Part IV Line 1c
2015
47-4317160
684
0
0
0
6
Part IV Line 1c
2016
98-0509277
1,958
0
0
0
7
Part IV Line 1c
2017
82-1928309
1,135
0
0
0
8
Part IV Line 1c
2018
80-0965931
376
0
0
376
9
Part IV Line 1c
2019
82-1928309
2,465
0
0
2,465
10
Part IV Line 1c
2020
82-1928309
2,372
0
0
2,372
11
Part IV Line 1c
2021
82-1928309
2,441
0
0
2,441
12
Part IV Line 1f
2011
20-8419824
6,333
0
0
0
13
Part IV Line 1f
2012
20-8419824
47
0
0
0
14
Part IV Line 1f
2013
20-8419824
4,507
0
0
0
15
Part IV Line 1f
2014
20-8419824
44,571
0
0
0
16
Part IV Line 1bb
2020
83-3780853
61,838
0
0
61,838
17
Part IV Line 1bb
2021
83-3780853
40,131
0
0
40,131
18
Part IV Line 1zz
2011
26-1326873
2
0
0
0
19
Part IV Line 1zz
2012
26-1326873
3
0
0
0
20
Part IV Line 1zz
2013
26-1326873
1
0
0
0
21
Part IV Line 1zz
2014
26-1870363
411
0
0
0
22
Part IV Line 1zz
2015
26-1870363
316
0
0
0
23
Part IV Line 1zz
2016
20-3924596
3
0
0
0
24
Part IV Line 1zz
2017
30-0568361
1,113
0
0
0
25
Part IV Line 1zz
2018
30-0568361
68
0
0
68
26
Part IV Line 1zz
2019
45-4110691
90
0
0
90
27
Part IV Line 2c
2021
33-1192743
130
0
0
130
28
Part IV Line 2c
2022
33-1192743
99
0
0
99
29
Part IV Line 3
2020
98-0546998
30
0
0
0
30
Part IV Line 3
2021
98-0546998
85
0
0
0
31
Part IV Line 3
2023
85-3359677
1,758
0
0
0
33
34
35
Form
3800
(2024)
Additional Data
Software ID:
Software Version:
-
TIN:
Form
4562
Department of the Treasury
Internal Revenue Service (99)
Depreciation and Amortization
(Including Information on Listed Property)
Attach to your tax return.
Go to
www.irs.gov/Form4562
for instructions and the latest information.
OMB No. 1545-0172
20
24
Attachment
Sequence No.
179
Name(s) shown on return
THE J PAUL GETTY TRUST
Business or activity to which this form relates
SCHEDULE A COGS
Identifying number
95-1790021
Part I
Election To Expense Certain Property Under Section 179
Note:
If you have any listed property, complete Part V before you complete Part I.
1
Maximum amount (see instructions)
.......................
1
1,220,000
2
Total cost of section 179 property placed in service (see instructions)
.............
2
3
Threshold cost of section 179 property before reduction in limitation (see instructions)
.......
3
3,050,000
4
Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter -0-
...........
4
5
Dollar limitation for tax year. Subtract line 4 from line 1. If zero or less, enter -0-. If married filing separately,
see instructions
.............................
5
6
(a)
Description of property
(b)
Cost (business use only)
(c)
Elected cost
7
Listed property. Enter the amount from line 29.
...........
7
8
Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7
........
8
9
Tentative deduction. Enter the
smaller
of line 5 or line 8
.................
9
10
Carryover of disallowed deduction from line 13 of your 2023 Form 4562.
............
10
11
Business income limitation. Enter the smaller of business income (not less than zero) or line 5. See
instructions.
..............................
11
12
Section 179 expense deduction. Add lines 9 and 10, but don't enter more than line 11
......
12
13
Carryover of disallowed deduction to 2025. Add lines 9 and 10, less line 12
13
Note:
Don't use Part II or Part III below for listed property. Instead, use Part V.
Part II
Special Depreciation Allowance and Other Depreciation (Don't
include listed property. See instructions.
)
14
Special depreciation allowance for qualified property (other than listed property) placed in service during the
tax year. See instructions.
..........................
14
15
Property subject to section 168(f)(1) election
...................
15
16
Other depreciation (including ACRS)
.......................
16
Part III
MACRS Depreciation (Don't
include listed property.
See instructions.
)
Section A
17
MACRS deductions for assets placed in service in tax years beginning before 2024
.........
17
18
If you are electing to group any assets placed in service during the tax year into one or more general asset
accounts, check here
...................
Section BAssets Placed in Service During 2024 Tax Year Using the General Depreciation System
(a)
Classification of property
(b)
Month and
year placed in
service
(c)
Basis for depreciation
(business/investment use
onlysee instructions)
(d)
Recovery
period
(e)
Convention
(f)
Method
(g)
Depreciation deduction
19a
3-year property
b
5-year property
c
7-year property
d
10-year property
e
15-year property
f
20-year property
g
25-year property
25 yrs.
S/L
h
Residential rental
property
27.5 yrs.
MM
S/L
27.5 yrs.
MM
S/L
i
Nonresidential real
property
39 yrs.
MM
S/L
MM
S/L
Section CAssets Placed in Service During 2024 Tax Year Using the Alternative Depreciation System
20a
Class life
S/L
b
12-year
12 yrs.
S/L
c
30-year
30 yrs.
MM
S/L
d
40-year
40 yrs.
MM
S/L
Part IV
Summary
(See instructions.)
21
Listed property. Enter amount from line 28
.....................
21
22
Total.
Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21. Enter here
and on the appropriate lines of your return. Partnerships and S corporationssee instructions
.....
22
0
23
For assets shown above and placed in service during the current year, enter the portion of the basis attributable to section 263A costs
.........
23
For Paperwork Reduction Act Notice, see separate instructions.
Cat. No. 12906N
Form
4562
(2024)
Form 4562 (2024)
Page
2
Part V
Listed Property
(Include automobiles, certain other vehicles, certain aircraft, and property used for entertainment,
recreation, or amusement.)
Note:
For any vehicle for which you are using the standard mileage rate or deducting lease expense, complete
only
24a, 24b, columns (a) through (c) of Section A, all of Section B, and Section C if applicable.
Section ADepreciation and Other Information (Caution:
See the instructions for limits for passenger automobiles.
)
24a
Do you have evidence to support the business/investment use claimed?
Yes
No
24b
If "Yes," is the evidence written?
Yes
No
(a)
Type of property (list
vehicles first)
(b)
Date placed in
service
(c)
Business/
investment
use
percentage
(d)
Cost or other
basis
(e)
Basis for depreciation
(business/investment
use only)
(f)
Recovery
period
(g)
Method/
Convention
(h)
Depreciation/
deduction
(i)
Elected
section 179
cost
25
Special depreciation allowance for qualified listed property placed in service during the tax year
and used more than 50% in a qualified business use. See instructions.
........
25
26
Property used more than 50% in a qualified business use:
%
%
%
27
Property used 50% or less in a qualified business use:
%
S/L -
%
S/L -
%
S/L -
28
Add amounts in column (h), lines 25 through 27. Enter here and on line 21, page 1
....
28
29
Add amounts in column (i), line 26. Enter here and on line 7, page 1
...............
29
Section BInformation on Use of Vehicles
Complete this section for vehicles used by a sole proprietor, partner, or other "more than 5% owner," or related person. If you provided vehicles to your employees, first answer the questions in Section C to see if you meet an exception to completing this section for those vehicles.
30
Total business/investment miles driven during the year
(
don't
include commuting miles)
.........
(a)
Vehicle 1
(b)
Vehicle 2
(c)
Vehicle 3
(d)
Vehicle 4
(e)
Vehicle 5
(f)
Vehicle 6
31
Total commuting miles driven during the year
....
32
Total other personal(noncommuting) miles driven
...
33
Total miles driven during the year. Add lines 30
through 32
................
34
Was the vehicle available for personal use
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
during off-duty hours?
............
35
Was the vehicle used primarily by a more than 5%
owner or related person?
...........
36
Is another vehicle available for personal use?
....
Section CQuestions for Employers Who Provide Vehicles for Use by Their Employees
Answer these questions to determine if you meet an exception to completing Section B for vehicles used by employees who
aren't
more than 5% owners or related persons. See instructions.
37
Do you maintain a written policy statement that prohibits all personal use of vehicles, including commuting, by your
employees?
..................................
Yes
No
38
Do you maintain a written policy statement that prohibits personal use of vehicles, except commuting, by your employees?
See the instructions for vehicles used by corporate officers, directors, or 1% or more owners
.........
39
Do you treat all use of vehicles by employees as personal use?
...................
40
Do you provide more than five vehicles to your employees, obtain information from your employees about the use of the
vehicles, and retain the information received?
.......................
41
Do you meet the requirements concerning qualified automobile demonstration use? See instructions.
.......
Note:
If your answer to 37, 38, 39, 40, or 41 is "Yes," don't complete Section B for the covered vehicles.
Part VI
Amortization
(a)
Description of costs
(b)
Date amortization
begins
(c)
Amortizable
amount
(d)
Code
section
(e)
Amortization
period or
percentage
(f)
Amortization for
this year
42
Amortization of costs that begins during your 2024 tax year (see instructions):
43
Amortization of costs that began before your 2024 tax year
................
43
44
Total.
Add amounts in column (f). See the instructions for where to report
...........
44
Form
4562
(2024)
Additional Data
Software ID:
Software Version:
-
TIN:
Form
4562
Department of the Treasury
Internal Revenue Service (99)
Depreciation and Amortization
(Including Information on Listed Property)
Attach to your tax return.
Go to
www.irs.gov/Form4562
for instructions and the latest information.
OMB No. 1545-0172
20
24
Attachment
Sequence No.
179
Name(s) shown on return
THE J PAUL GETTY TRUST
Business or activity to which this form relates
SCHEDULE A COGS
Identifying number
95-1790021
Part I
Election To Expense Certain Property Under Section 179
Note:
If you have any listed property, complete Part V before you complete Part I.
1
Maximum amount (see instructions)
.......................
1
1,220,000
2
Total cost of section 179 property placed in service (see instructions)
.............
2
3
Threshold cost of section 179 property before reduction in limitation (see instructions)
.......
3
3,050,000
4
Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter -0-
...........
4
5
Dollar limitation for tax year. Subtract line 4 from line 1. If zero or less, enter -0-. If married filing separately,
see instructions
.............................
5
6
(a)
Description of property
(b)
Cost (business use only)
(c)
Elected cost
7
Listed property. Enter the amount from line 29.
...........
7
8
Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7
........
8
9
Tentative deduction. Enter the
smaller
of line 5 or line 8
.................
9
10
Carryover of disallowed deduction from line 13 of your 2023 Form 4562.
............
10
11
Business income limitation. Enter the smaller of business income (not less than zero) or line 5. See
instructions.
..............................
11
12
Section 179 expense deduction. Add lines 9 and 10, but don't enter more than line 11
......
12
13
Carryover of disallowed deduction to 2025. Add lines 9 and 10, less line 12
13
Note:
Don't use Part II or Part III below for listed property. Instead, use Part V.
Part II
Special Depreciation Allowance and Other Depreciation (Don't
include listed property. See instructions.
)
14
Special depreciation allowance for qualified property (other than listed property) placed in service during the
tax year. See instructions.
..........................
14
15
Property subject to section 168(f)(1) election
...................
15
16
Other depreciation (including ACRS)
.......................
16
Part III
MACRS Depreciation (Don't
include listed property.
See instructions.
)
Section A
17
MACRS deductions for assets placed in service in tax years beginning before 2024
.........
17
18
If you are electing to group any assets placed in service during the tax year into one or more general asset
accounts, check here
...................
Section BAssets Placed in Service During 2024 Tax Year Using the General Depreciation System
(a)
Classification of property
(b)
Month and
year placed in
service
(c)
Basis for depreciation
(business/investment use
onlysee instructions)
(d)
Recovery
period
(e)
Convention
(f)
Method
(g)
Depreciation deduction
19a
3-year property
b
5-year property
c
7-year property
d
10-year property
e
15-year property
f
20-year property
g
25-year property
25 yrs.
S/L
h
Residential rental
property
27.5 yrs.
MM
S/L
27.5 yrs.
MM
S/L
i
Nonresidential real
property
39 yrs.
MM
S/L
MM
S/L
Section CAssets Placed in Service During 2024 Tax Year Using the Alternative Depreciation System
20a
Class life
S/L
b
12-year
12 yrs.
S/L
c
30-year
30 yrs.
MM
S/L
d
40-year
40 yrs.
MM
S/L
Part IV
Summary
(See instructions.)
21
Listed property. Enter amount from line 28
.....................
21
22
Total.
Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21. Enter here
and on the appropriate lines of your return. Partnerships and S corporationssee instructions
.....
22
0
23
For assets shown above and placed in service during the current year, enter the portion of the basis attributable to section 263A costs
.........
23
For Paperwork Reduction Act Notice, see separate instructions.
Cat. No. 12906N
Form
4562
(2024)
Form 4562 (2024)
Page
2
Part V
Listed Property
(Include automobiles, certain other vehicles, certain aircraft, and property used for entertainment,
recreation, or amusement.)
Note:
For any vehicle for which you are using the standard mileage rate or deducting lease expense, complete
only
24a, 24b, columns (a) through (c) of Section A, all of Section B, and Section C if applicable.
Section ADepreciation and Other Information (Caution:
See the instructions for limits for passenger automobiles.
)
24a
Do you have evidence to support the business/investment use claimed?
Yes
No
24b
If "Yes," is the evidence written?
Yes
No
(a)
Type of property (list
vehicles first)
(b)
Date placed in
service
(c)
Business/
investment
use
percentage
(d)
Cost or other
basis
(e)
Basis for depreciation
(business/investment
use only)
(f)
Recovery
period
(g)
Method/
Convention
(h)
Depreciation/
deduction
(i)
Elected
section 179
cost
25
Special depreciation allowance for qualified listed property placed in service during the tax year
and used more than 50% in a qualified business use. See instructions.
........
25
26
Property used more than 50% in a qualified business use:
%
%
%
27
Property used 50% or less in a qualified business use:
%
S/L -
%
S/L -
%
S/L -
28
Add amounts in column (h), lines 25 through 27. Enter here and on line 21, page 1
....
28
29
Add amounts in column (i), line 26. Enter here and on line 7, page 1
...............
29
Section BInformation on Use of Vehicles
Complete this section for vehicles used by a sole proprietor, partner, or other "more than 5% owner," or related person. If you provided vehicles to your employees, first answer the questions in Section C to see if you meet an exception to completing this section for those vehicles.
30
Total business/investment miles driven during the year
(
don't
include commuting miles)
.........
(a)
Vehicle 1
(b)
Vehicle 2
(c)
Vehicle 3
(d)
Vehicle 4
(e)
Vehicle 5
(f)
Vehicle 6
31
Total commuting miles driven during the year
....
32
Total other personal(noncommuting) miles driven
...
33
Total miles driven during the year. Add lines 30
through 32
................
34
Was the vehicle available for personal use
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
during off-duty hours?
............
35
Was the vehicle used primarily by a more than 5%
owner or related person?
...........
36
Is another vehicle available for personal use?
....
Section CQuestions for Employers Who Provide Vehicles for Use by Their Employees
Answer these questions to determine if you meet an exception to completing Section B for vehicles used by employees who
aren't
more than 5% owners or related persons. See instructions.
37
Do you maintain a written policy statement that prohibits all personal use of vehicles, including commuting, by your
employees?
..................................
Yes
No
38
Do you maintain a written policy statement that prohibits personal use of vehicles, except commuting, by your employees?
See the instructions for vehicles used by corporate officers, directors, or 1% or more owners
.........
39
Do you treat all use of vehicles by employees as personal use?
...................
40
Do you provide more than five vehicles to your employees, obtain information from your employees about the use of the
vehicles, and retain the information received?
.......................
41
Do you meet the requirements concerning qualified automobile demonstration use? See instructions.
.......
Note:
If your answer to 37, 38, 39, 40, or 41 is "Yes," don't complete Section B for the covered vehicles.
Part VI
Amortization
(a)
Description of costs
(b)
Date amortization
begins
(c)
Amortizable
amount
(d)
Code
section
(e)
Amortization
period or
percentage
(f)
Amortization for
this year
42
Amortization of costs that begins during your 2024 tax year (see instructions):
43
Amortization of costs that began before your 2024 tax year
................
43
44
Total.
Add amounts in column (f). See the instructions for where to report
...........
44
Form
4562
(2024)
Additional Data
Software ID:
Software Version:
-
TIN:
Form
4562
Department of the Treasury
Internal Revenue Service (99)
Depreciation and Amortization
(Including Information on Listed Property)
Attach to your tax return.
Go to
www.irs.gov/Form4562
for instructions and the latest information.
OMB No. 1545-0172
20
24
Attachment
Sequence No.
179
Name(s) shown on return
THE J PAUL GETTY TRUST
Business or activity to which this form relates
SCHEDULE A COGS
Identifying number
95-1790021
Part I
Election To Expense Certain Property Under Section 179
Note:
If you have any listed property, complete Part V before you complete Part I.
1
Maximum amount (see instructions)
.......................
1
1,220,000
2
Total cost of section 179 property placed in service (see instructions)
.............
2
3
Threshold cost of section 179 property before reduction in limitation (see instructions)
.......
3
3,050,000
4
Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter -0-
...........
4
5
Dollar limitation for tax year. Subtract line 4 from line 1. If zero or less, enter -0-. If married filing separately,
see instructions
.............................
5
6
(a)
Description of property
(b)
Cost (business use only)
(c)
Elected cost
7
Listed property. Enter the amount from line 29.
...........
7
8
Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7
........
8
9
Tentative deduction. Enter the
smaller
of line 5 or line 8
.................
9
10
Carryover of disallowed deduction from line 13 of your 2023 Form 4562.
............
10
11
Business income limitation. Enter the smaller of business income (not less than zero) or line 5. See
instructions.
..............................
11
12
Section 179 expense deduction. Add lines 9 and 10, but don't enter more than line 11
......
12
13
Carryover of disallowed deduction to 2025. Add lines 9 and 10, less line 12
13
Note:
Don't use Part II or Part III below for listed property. Instead, use Part V.
Part II
Special Depreciation Allowance and Other Depreciation (Don't
include listed property. See instructions.
)
14
Special depreciation allowance for qualified property (other than listed property) placed in service during the
tax year. See instructions.
..........................
14
15
Property subject to section 168(f)(1) election
...................
15
16
Other depreciation (including ACRS)
.......................
16
Part III
MACRS Depreciation (Don't
include listed property.
See instructions.
)
Section A
17
MACRS deductions for assets placed in service in tax years beginning before 2024
.........
17
18
If you are electing to group any assets placed in service during the tax year into one or more general asset
accounts, check here
...................
Section BAssets Placed in Service During 2024 Tax Year Using the General Depreciation System
(a)
Classification of property
(b)
Month and
year placed in
service
(c)
Basis for depreciation
(business/investment use
onlysee instructions)
(d)
Recovery
period
(e)
Convention
(f)
Method
(g)
Depreciation deduction
19a
3-year property
b
5-year property
c
7-year property
d
10-year property
e
15-year property
f
20-year property
g
25-year property
25 yrs.
S/L
h
Residential rental
property
27.5 yrs.
MM
S/L
27.5 yrs.
MM
S/L
i
Nonresidential real
property
39 yrs.
MM
S/L
MM
S/L
Section CAssets Placed in Service During 2024 Tax Year Using the Alternative Depreciation System
20a
Class life
S/L
b
12-year
12 yrs.
S/L
c
30-year
30 yrs.
MM
S/L
d
40-year
40 yrs.
MM
S/L
Part IV
Summary
(See instructions.)
21
Listed property. Enter amount from line 28
.....................
21
22
Total.
Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21. Enter here
and on the appropriate lines of your return. Partnerships and S corporationssee instructions
.....
22
0
23
For assets shown above and placed in service during the current year, enter the portion of the basis attributable to section 263A costs
.........
23
For Paperwork Reduction Act Notice, see separate instructions.
Cat. No. 12906N
Form
4562
(2024)
Form 4562 (2024)
Page
2
Part V
Listed Property
(Include automobiles, certain other vehicles, certain aircraft, and property used for entertainment,
recreation, or amusement.)
Note:
For any vehicle for which you are using the standard mileage rate or deducting lease expense, complete
only
24a, 24b, columns (a) through (c) of Section A, all of Section B, and Section C if applicable.
Section ADepreciation and Other Information (Caution:
See the instructions for limits for passenger automobiles.
)
24a
Do you have evidence to support the business/investment use claimed?
Yes
No
24b
If "Yes," is the evidence written?
Yes
No
(a)
Type of property (list
vehicles first)
(b)
Date placed in
service
(c)
Business/
investment
use
percentage
(d)
Cost or other
basis
(e)
Basis for depreciation
(business/investment
use only)
(f)
Recovery
period
(g)
Method/
Convention
(h)
Depreciation/
deduction
(i)
Elected
section 179
cost
25
Special depreciation allowance for qualified listed property placed in service during the tax year
and used more than 50% in a qualified business use. See instructions.
........
25
26
Property used more than 50% in a qualified business use:
%
%
%
27
Property used 50% or less in a qualified business use:
%
S/L -
%
S/L -
%
S/L -
28
Add amounts in column (h), lines 25 through 27. Enter here and on line 21, page 1
....
28
29
Add amounts in column (i), line 26. Enter here and on line 7, page 1
...............
29
Section BInformation on Use of Vehicles
Complete this section for vehicles used by a sole proprietor, partner, or other "more than 5% owner," or related person. If you provided vehicles to your employees, first answer the questions in Section C to see if you meet an exception to completing this section for those vehicles.
30
Total business/investment miles driven during the year
(
don't
include commuting miles)
.........
(a)
Vehicle 1
(b)
Vehicle 2
(c)
Vehicle 3
(d)
Vehicle 4
(e)
Vehicle 5
(f)
Vehicle 6
31
Total commuting miles driven during the year
....
32
Total other personal(noncommuting) miles driven
...
33
Total miles driven during the year. Add lines 30
through 32
................
34
Was the vehicle available for personal use
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
Yes
No
during off-duty hours?
............
35
Was the vehicle used primarily by a more than 5%
owner or related person?
...........
36
Is another vehicle available for personal use?
....
Section CQuestions for Employers Who Provide Vehicles for Use by Their Employees
Answer these questions to determine if you meet an exception to completing Section B for vehicles used by employees who
aren't
more than 5% owners or related persons. See instructions.
37
Do you maintain a written policy statement that prohibits all personal use of vehicles, including commuting, by your
employees?
..................................
Yes
No
38
Do you maintain a written policy statement that prohibits personal use of vehicles, except commuting, by your employees?
See the instructions for vehicles used by corporate officers, directors, or 1% or more owners
.........
39
Do you treat all use of vehicles by employees as personal use?
...................
40
Do you provide more than five vehicles to your employees, obtain information from your employees about the use of the
vehicles, and retain the information received?
.......................
41
Do you meet the requirements concerning qualified automobile demonstration use? See instructions.
.......
Note:
If your answer to 37, 38, 39, 40, or 41 is "Yes," don't complete Section B for the covered vehicles.
Part VI
Amortization
(a)
Description of costs
(b)
Date amortization
begins
(c)
Amortizable
amount
(d)
Code
section
(e)
Amortization
period or
percentage
(f)
Amortization for
this year
42
Amortization of costs that begins during your 2024 tax year (see instructions):
43
Amortization of costs that began before your 2024 tax year
................
43
44
Total.
Add amounts in column (f). See the instructions for where to report
...........
44
Form
4562
(2024)
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
24
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 2023 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 $831,150 and you were married filing separately for 2023, see instructions
........
4
3,769,407
5
Enter: $126,500 if married filing jointly or qualifying surviving spouse for 2023; $81,300 if single or head of household for 2023; or $63,250 if married filing separately for 2023. Estates and trusts, enter $28,400
5
28,400
6
Enter: $1,156,300 if married filing jointly or qualifying surviving spouse for 2023; $578,150 if single, head
of household, or married filing separately for 2023. Estates and trusts, enter $94,600
.....
6
94,600
7
Subtract line 6 from line 4. If zero or less, enter -0- here and on line 8 and go to line 9
.....
7
3,674,807
8
Multiply line 7 by 25% (0.25)
.......................
8
918,702
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
3,769,407
11
•
If
for 2023
you filed Form 2555, see instructions for the amount to enter.
•
If
for 2023
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 $220,700 or less ($110,350 or less if married filing separately for
2023), multiply line 10 by 26% (0.26). Otherwise, multiply line 10 by 28% (0.28) and
subtract $4,414 ($2,207 if married filing separately for 2023) from the result.
11
752,699
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
752,699
14
Enter the amount from your 2023 Form 6251, line 10, or 2023 Form 1041, Schedule I, line 53
..
14
742,419
15
Net minimum tax on exclusion items.
Subtract line 14 from line 13. If zero or less, enter -0-
..
15
10,280
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 10002S
Form
8801
(2024)
Form 8801 (2024)
Page
2
Part II
Minimum Tax Credit and Carryforward to 2025
16
Enter the amount from your 2023 Form 6251, line 11, or 2023 Form 1041, Schedule I, line 54
..
16
10,370,687
17
Enter the amount from line 15
......................
17
10,280
18
Subtract line 17 from line 16. If less than zero, enter as a negative amount
.........
18
10,360,407
19
2023 credit carryforward.
Enter the amount from your 2023 Form 8801, line 26
......
19
14,156,977
20
Enter your 2023 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
24,517,384
22
Enter your 2024 regular income tax liability minus allowable credits (see instructions)
.....
22
6,110,906
23
Enter the amount from your 2024 Form 6251, line 9, or 2024 Form 1041, Schedule I, line 52
..
23
6,201,725
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 2024
Schedule 3 (Form 1040), line 6b; or Form 1041, Schedule G, line 2c
..........
25
26
Credit carryforward to 2025.
Subtract line 25 from line 21. Keep a record of this amount because you
may use it in future years
.......................
26
24,517,384
Form
8801
(2024)
Form 8801 (2024)
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 2023 Qualified Dividends and Capital Gain Tax Worksheet, the 2023 Schedule D Tax Worksheet, or Part V of the 2023 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 2023, enter the
amount from line 3 of the Foreign Earned Income Tax Worksheet in the instructions
......
27
3,769,407
Caution: If for 2023
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 2023 Qualified Dividends and Capital Gain Tax Worksheet, the
amount from line 13 of your 2023 Schedule D Tax Worksheet, or the amount from line 26 of the
2023 Schedule D (Form 1041), whichever applies (as refigured for the AMT, if necessary)*
...
28
14,342,040
If you figured your 2023 tax using the 2023 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 2023 Schedule D (Form 1040), or line 18b, column (2), of the 2023 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 2023
Schedule D Tax Worksheet
.......................
30
14,342,040
31
Enter the
smaller
of line 27 or line 30
....................
31
3,769,407
32
Subtract line 31 from line 27
.......................
32
33
If line 32 is $220,700 or less ($110,350 or less if married filing separately for 2023), multiply line
32 by 26% (0.26). Otherwise, multiply line 32 by 28% (0.28) and subtract $4,414 ($2,207 if married
filing separately for 2023) from the result.
.................
33
34
Enter:
•
$89,250 if married filing jointly or qualifying surviving spouse for 2023,
•
$44,625 if single or married filing separately for 2023,
•
$59,750 if head of household for 2023, or
•
$3,000 for an estate or trust.
......
34
3,000
35
Enter the amount from line 5 of your 2023 Qualified Dividends and Capital Gain Tax Worksheet,
the amount from line 14 of your 2023 Schedule D Tax Worksheet, or the amount from line 27 of the
2023 Schedule D (Form 1041), whichever applies. If you didn't complete either worksheet or Part V
of the 2023 Schedule D (Form 1041), enter the amount from your 2023 Form 1040, 1040-SR, or 1040-NR, line 15, or 2023 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
3,000
37
Enter the
smaller
of line 27 or line 28
....................
37
3,769,407
38
Enter the
smaller
of line 36 or line 37
....................
38
3,000
39
Subtract line 38 from line 37
.......................
39
3,766,407
40
Enter:
•
$492,300 if single for 2023,
•
$276,900 if married filing separately for 2023,
•
$553,850 if married filing jointly or qualifying surviving spouse for 2023,
•
$523,050 if head of household for 2023, or
•
$14,650 for an estate or trust.
......
40
14,650
41
Enter the amount from line 36
.......................
41
3,000
42
Form 1040, 1040-SR, or 1040-NR filers, enter the amount from line 5 of your 2023 Qualified Dividends and Capital Gain Tax Worksheet or the amount from line 21 of your 2023 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 2023 Schedule D (Form 1041) or line 18 of your 2023 Schedule D Tax
Worksheet, whichever applies. If you didn't complete either the worksheet or Part V of the 2023
Schedule D (Form 1041), enter the amount from your 2023 Form 1041, line 23; if zero or less,
enter -0-.
.............................
42
* The 2023 Qualified Dividends and Capital Gain Tax Worksheet is in the 2023 Instructions for Form 1040. The 2023 Schedule D Tax Worksheet is in the 2023 Instructions for Schedule D (Form 1040) (or the 2023 Instructions for Schedule D (Form 1041)).
Form
8801
(2024)
Form 8801 (2024)
Page
4
Part III
Tax Computation Using Maximum Capital Gains Rates
(continued)
43
Add lines 41 and 42
..........................
43
3,000
44
Subtract line 43 from line 40. If zero or less, enter -0-
...............
44
11,650
45
Enter the
smaller
of line 39 or line 44
....................
45
11,650
46
Multiply line 45 by 15% (0.15)
......................
46
1,748
47
Add lines 38 and 45
..........................
47
14,650
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
3,754,757
49
Multiply line 48 by 20% (0.20)
......................
49
750,951
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
752,699
54
If line 27 is $220,700 or less ($110,350 or less if married filing separately for 2023), multiply line 27
by 26% (0.26). Otherwise, multiply line 27 by 28% (0.28) and subtract $4,414 ($2,207 if married filing
separately for 2023) from the result.
....................
54
1,051,020
55
Enter the
smaller
of line 53 or line 54 here and on line 11. If you filed Form 2555 for 2023, 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
752,699
Form
8801
(2024)
Additional Data
Software ID:
Software Version: