Get the free 1996 Form 5227. Split-Interest Trust Information Return - irs

Form 5227 OMB No. 1545-0196 Split-Interest Trust Information Return See separate instructions. A Department of the Treasury Internal Revenue Service 96 Full name of trust Employer identification number

How to fill out 1996 form 5227 split-interest

How to fill out 1996 form 5227 split-interest:

1. Begin by filling out the basic information section, including the name of the trust or estate, its address, and the taxpayer identification number.
2. Provide information about the transferor, which can be an individual, a corporation, an employee benefit plan, or another entity.
3. Indicate whether the transferor is an exempt organization or a foreign organization.
4. Specify the income distribution deduction, which is the total deduction for the current year for distributions made from the trust or estate.
5. Complete the section for charitable deductions, including the name and address of each recipient, the purpose of the gift, and the amount of the donation.
6. Include information about the recipient organization's tax-exempt status and attach any required documentation.
7. Provide details about the split-interest trust, including the name and address of the trustee(s), the type of trust, and the date it was established.
8. Complete the section for beneficiaries, including their names, addresses, and taxpayer identification numbers.
9. Calculate and report the taxable income of the trust or estate and indicate any tax owed.
10. Sign and date the form before submitting it to the appropriate tax authority.

Who needs 1996 form 5227 split-interest:

1. Individuals or entities that have established split-interest trusts.
2. Organizations or individuals that are recipients of split-interest trust distributions.
3. Individuals or entities responsible for managing and filing taxes on behalf of a split-interest trust.

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