Get Schedule Ct-1041c 2014, Connecticut Taxable Income Calculation

A trust or, for its final tax year, a decedent's estate may elect under section 643(g) to have any part of its estimated tax payments (but not income tax withheld) treated as made by a beneficiary or beneficiaries. The fiduciary files Form 1041-T to make the election.

The Connecticut taxable income of trusts and estates is taxed at the following rates: 6.99% for taxable years commencing on or after January 1, 2015; ( Sec. 12-700(a)(9)(E), G.S. ) 6.7% for taxable years commencing after 2010 and before 2015; ( Sec.

A Connecticut estate tax return must be filed for each decedent who was a Connecticut resident as well as non-residents who died owning real or tangible personal property located in Connecticut. A Connecticut estate tax return is required for every decedent's estate, whether or not tax is due.

The beneficiary, and not the trust or decedent's estate, pays income tax on their distributive share of income. Schedule K-1 (Form 1041) is used to notify the beneficiaries of the amounts to be included on their income tax returns.

The 2021 Form CT-1041, Connecticut Income Tax for Trusts and Estates Return Instructions, contains information about the Department of Revenue Services' (DRS) myconneCT online system.

Section 12-740-5 - Filing of fiduciary income tax return (a) A fiduciary of a trust or estate shall make and file the Connecticut fiduciary income tax return (Form CT-1041).