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Entering interest and dividends on Form 1041

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📊 Interest Statement Columns

You can duplicate both of these statements if you need additional space.

The interest statement columns are:

• Enter the payer and amount in the appropriate column.
• + or - and State adjustment: These columns should be used if the state taxes interest differently from the IRS. Enter a "+" and the amount of interest to add to the state, or enter a "-" and the amount of interest to subtract from the state return. For instance, if the interest is exempt from tax by the IRS (Federal), but the state taxes it, enter a "+" and that amount.
• U.S. Exempt: Mark this box if the interest is nontaxable by the Federal government.
• Withdrawal penalty: If there is a withdrawal penalty on the interest, enter the amount of the penalty here.
• Federal Withholding: Enter the amount of any Federal withholding here.

Tags: federal,form