Don’t Staple 8734 Form 66 2022 Fiduciary Income Tax Return State use only Amended Return? Check the box. For calendar year Mo Day Year Mo Day Year See page 1 of instructions for reasons to 2022 or fiscal ▪ amend, and enter the number that applies. ▪ year beginning 22 ending Name of estate or trust State use only Federal Employer Identification Number (EIN) Name and title of fiduciary Current mailing address of fiduciary (number and street) City State ZIP code Foreign country (if not U.S.) Check all that apply: ▪ Resident Return ▪ Part-Year Resident Return ▪ Nonresident Return ▪ Composite Return ▪ Grantor Trust ▪ Electing Small Business Trust ▪ Qualified Funeral Trust (QFT) ▪ Qualified Disability Trust (QDT) 1. If reporting for an estate: a. Decedent’s Social Security number b. Decedent’s date of death c. Was the decedent a resident of Idaho? ................................................................................................ Yes ▪ No d. If no, enter the state of residence 2. Does this estate or trust have any nonresident beneficiaries? .................................................................... Yes ▪ No 3. Is this a final return? .................................................................................................................................... Yes ▪ No 4. Idaho adjusted income. Enter the amount from Schedule A, page 2, line 19 ............................... 4 5. Income distribution deduction to beneficiaries .............................................................................. ▪ 5 6. Estate tax deduction ...................................................................................................................... ▪ 6 7. Subtract lines 5 and 6 from line 4 .................................................................................................. ▪ 7 8. Qualified business income deduction ............................................................................................ ▪ 8 9. Exemption. See instructions .......................................................................................................... ▪ 9 10. Idaho taxable income. Subtract lines 8 and 9 from line 7 .............................................................. ▪ 10 11. Idaho income tax. Use the Tax Computation Schedule. See instructions ..................................... ▪ 11 12. Donation to Opportunity Scholarship Program .............................................................................. ▪ 12 13. Credits. Enter the amount from Schedule B, page 2, line 6. See instructions .............................. 13 14. Add lines 11 and 12, then subtract line 13. If less than zero, enter zero........................................ ▪ 14 15. Income distribution reportable by beneficiaries. See instructions.................................................. ▪ 15 16. Tax on income distribution. Multiply line 15 by 6% ..... ▪ Less credits▪ 16 17. Permanent building fund tax. See instructions. Enter zero if this is a QFT .................................... ▪ 17 18. Total tax from recapture of income tax credits from Form 44, Part II, line 6. Include Form 44 ...... 18 Don’t19. FuelsStapletax due. Include Form 75 ..................................................................................................... 19 20. Sales/use tax due on untaxed purchases (online, mail order, and other) .............................. ▪ 20 21. Tax from recapture of qualified investment exemption. Include Form 49ER ................................. ▪ 21 22. Tax on Electing Small Business Trust or QFT composite return. See instructions ........................ ▪ 22 23. Total tax. Add lines 14 and 16 through 22 ..................................................................................... ▪ 23 24. Estimated tax payments. If made under other EINs, provide EINs, amounts, and rollforwards .......... ▪ 24 25. Idaho income tax withheld. Include Forms W-2 or 1099 ............................................................... ▪ 25 26. Tax paid by affected business entity on your behalf ...................................................................... ▪ 26 27. Special fuels tax refund Gasoline tax refund Include Form 75 ......... 27 28. Tax reimbursement incentive credit. Include certificate ................................................................ ▪ 28 29. Total payments and other credits. Add lines 24 through 28 ........................................................... 29 Refund or Payment Due 30. Tax due. If line 23 is more than line 29, subtract line 29 from line 23 .......................................... ▪ 30 31. Penalty ▪ Interest from the due date ▪ Enter total ....................... 31 32. Nonrefundable credit from a prior year return. See Form 44 instructions ...................................... ▪ 32 33. Total Due. Add lines 30 and 31, then subtract line 32 ................................................................. ▪ 33 34. Overpayment. If line 23 is less than line 29, subtract line 23 from line 29 ........................................... ▪ 34 35. Refund ......... ▪ Apply to 2023 ........... ▪ Continue to page 2. EFO00036 09-29-2022 Page 1 of 2 |
Form 66 2022 (continued) Schedule A - Computation of Idaho adjusted income Idaho Amounts 1. Interest and dividend income. Interest ▪ Dividends ▪ Enter total ..... 1 2. Income or (loss). Business ▪ Farm ▪ Enter total ...................... 2 3. Gain or (loss). Capital ▪ Ordinary ▪ Enter total ............................. 3 4. Rents, royalties, partnerships, other estates and trusts, etc. ................................................................... ▪ 4 5. Other income. Include explanation .......................................................................................................... ▪ 5 6. Total income. Add lines 1 through 5 .................................................................................................... ▪ 6 Column A - Federal Column B - Idaho 7. Column A – Total income from federal Form 1041, line 9 Column B – Total income from line 6 ............................................................ ▪ 7 8. Interest and dividends not taxable under Internal Revenue Code ................ ▪ 8 ▪ 9. Addition for bonus depreciation. Include a schedule .................................... ▪ 9 ▪ 10. Other additions. Include a schedule ............................................................. ▪ 10 ▪ 11. Idaho net operating loss. Carryover ▪ Carryback ▪ 11 ▪ 12. Income exempt from Idaho tax. Include a schedule ..................................... ▪ 12 ▪ 13. Subtraction for bonus depreciation. Include a schedule ............................... ▪ 13 ▪ 14. Other subtractions. Include a schedule ........................................................ ▪ 14 ▪ 15. Add lines 7 through 10 and subtract lines 11 through 14 ............................. ▪ 15 ▪ 16. Deductions from federal Form 1041, lines 10 through 15a. See instructions .................................... ▪ 16 17. Idaho percentage. Divide line 15, Column B by line 15, Column A ..................................................... ▪ 17 % 18. Multiply line 16 by line 17 ....................................................................................................................▪ 18 19. Idaho adjusted income. Subtract line 18 from line 15, Column B. Enter here and on page 1, line 4 .. ▪ 19 Schedule B - Credits 1. Did you claim the qualified investment exemption for investment tax credit property acquired this tax year? ..... Yes ▪ No 2. Credit for income tax paid to other states - Nonresidents can’t claim this credit. a. Idaho income tax, page 1, line 11 ............................................................. 2a Include a copy b. Total income from federal Form 1041, line 9 ............................................. 2b of the income c. Enter the portion of line b derived from sources in and taxed tax return and a by the other state ...................................................................................... ▪ 2c separate Form 66, d. Divide line c by line b. Enter percentage here .......................................... 2d % page 2 for each 2e state for which a e. Multiply line a by line d .............................................................................. credit is claimed. f. Other state’s tax due less its income tax credits ....................................... ▪ 2f g. Credit for income tax paid to other states. Enter the smaller of line e or line f. A copy of the other state’s return must accompany this return ...................................................... ▪ 2g 3. Credit for contributions to Idaho educational entities ........................................................................... ▪ 3 4. Credit for contributions to Idaho youth and rehabilitation facilities ....................................................... ▪ 4 5. Total business income tax credits from Form 44, Part I, line 10. Include Form 44 .............................. 5 6. Total credits. Add lines 2g through 5. Enter total here and on page 1, line 13 ..................................... 6 Within 180 days of receiving this return, the Idaho State Tax Commission may discuss this return with the paid preparer identified below. ▪ Under penalties of perjury, I declare that to the best of my knowledge and belief this return is true, correct, and complete. See instructions. Signature of fiduciary Paid preparer’s signature Preparer’s EIN, SSN, or PTIN Sign ▪ ▪ ▪ Here Date Phone number Address Phone number Mail to: Idaho State Tax Commission, PO Box 56, Boise ID 83756-0056 Include a complete copy of your federal Form 1041. EFO00036 09-29-2022 Page 2 of 2 |
Form 66 — Instructions 2022 Fiduciary Income Tax Return Instructions are for lines not fully explained on the form. through 16. Enter zero on line 17 and continue to The trust or estate must provide each beneficiary line 22. with an Idaho Form ID K-1. This form shows the Qualified Disability Trusts (QDT) beneficiary’s share of Idaho additions, subtractions, Check the box if the entity is a qualified disability trust. and credit information. Form ID K-1 also identifies the beneficiary’s share of gross income to help determine Questions 1, 2, and 3 Idaho filing requirements of individual beneficiaries. Mark the appropriate boxes and provide the requested Include all Form ID K-1s and a complete copy of information. Answer each question or the return is federal Form 1041, including all federal Schedule considered incomplete. Incomplete returns delay K-1s, with the Idaho Form 66. processing. Complete questions 1a through 1d if the fiduciary files Rounding Form 66 for an estate. Otherwise, go to question 2. Round the amounts on the return to the nearest whole dollar. Round down if under 50 cents, round up if 50 Question 1 Estates. cents or more. a. Enter the decedent’s Social Security number. b. Enter the decedent’s date of death. Heading c. If the decedent was an Idaho resident on the date of File the 2022 return for calendar year 2022 or a fiscal death, check the “Yes” box. year that begins in 2022. For a fiscal year, fill in the d. If box c is checked “No,” enter the decedent’s state fiscal year beginning and ending dates at the top of of residence on the date of death. the form. Write your trust or estate name, fiduciary name and Question 2 Resident/Nonresident Beneficiaries. title, address, and federal Employer Identification Check the “Yes” box if any beneficiary of the trust or Number (EIN) in the space provided. Don’t include the estate isn’t an Idaho resident. A beneficiary is an Idaho dash. resident if the individual: • Is domiciled for the entire year in Idaho even though Amended Returns temporarily outside of Idaho, and You can use this form as an original return or an • Has a home in Idaho for the entire year and spends amended return. more than 270 days in Idaho during the tax year If you’re filing this form as an amended return, check A Form PTE-12 is required if you checked “Yes.” See the amended return box at the top of the form. Enter Form PTE-12 instructions. the number from the following list that best describes your reason for amending. Question 3 Final Return. Check the “Yes” box if this is the final Idaho return for the trust or estate. 1. Federal Audit 2. Net Operating Loss Carryback – Include Form 56 Line 5 Income Distribution Deduction or a schedule showing the application of the loss Enter the amount of the deduction for distributions to 3. Federal Amended beneficiaries. Include Form PTE-12 with the return if the trust or estate files as a pass-through entity. Enter the 4. Other – Include an explanation total of Idaho distributable income from Form PTE-12 Complete the entire form using the corrected amounts. column (b). Specific Instructions Line 6 Estate Tax Deduction Enter the deduction for federal estate tax attributable Electing Small Business Trusts (ESBT) to income in respect of a decedent. If the income in Check the box if the trustee elected for the trust to be question has been distributed, only the fiduciary’s an ESBT for federal purposes. proportionate share may be deducted. Refer to federal Qualified Funeral Trusts (QFT) Form 1041 instructions. If any or all of the estate tax Check the box if the trustee made the election under is attributed to income that’s exempt from Idaho tax, Internal Revenue Code (IRC) Section 685 and the you must make a special Idaho adjustment to add trust otherwise qualifies as a QFT. Check the box if back a proportionate share of the deduction. Include a filing a QFT composite return. Don’t complete lines 4 schedule showing the computation. EIN00044 12-30-2022 Page 1 of 9 |
Form 66 — Instructions 2022 (continued) Line 8 Qualified Business Income Deduction Part-year Resident or Nonresident Trust or Estate Resident Trust or Estate Enter the amount from line 5 of the following Enter the amount from Form 1041, line 20. worksheet: Worksheet Enter the business information in the table below using information from the K-1s and federal Form 8995. Then add the totals for 1. Column (c) and for column ( ).e (a) (b) (c) (d) (e) Business name Taxpayer Total qualified business Idaho apportionment Idaho source qualified identification number income or (loss) factor business income or (loss) (Multiply Column c by Column d) Total: Total: 2. Divide the total of Column (e) by the total of Column (c) for the Idaho percentage of qualified business income............................................................................................................................... 2 3. Enter the qualified business income deduction claimed on the federal return ................................ 3 4. Multiply line 2 by line 3 to calculate the Idaho qualified business income deduction ..................... 4 5. Enter the amount from line 4 on Idaho Form 66, Line 8 .................................................................. 5 Line 9 Exemption Line 13 Credits Enter zero here if the trust or estate distributes all Enter the amount from Form 66, Schedule B, line 6. its income to the beneficiaries, reports the income Instructions for Schedule B begin on page 6. distribution, and pays the tax for the beneficiaries. Line 15 Income Distribution Reportable by Enter zero here if the trust is an exempt trust filing Beneficiaries a Form 990-T to report unrelated business taxable Determine the amounts from lines 4 and 5 reported by the income. The exemption for a qualified disability trust trust or estate on the fiduciary return. If the trust or estate (QDT) is the same as the exemption used for federal files as a pass-through entity and includes nonresident purposes. beneficiary income in a composite return, this amount If all income is reported to Idaho, enter the federal should be the total Idaho distributable income for all exemption from Form 1041, line 21. shareholders on Form PTE-12 with filing code “C”. Don’t If only part of the income is reported to Idaho, enter include amounts distributed to a beneficiary who doesn’t the amount from line 3 of the following computation: meet the Idaho individual income tax filing requirement. If the trust or estate pays the tax for one or more 1. Federal exemption, Form 1041, nonresident individual beneficiaries, determine each line 21 .................................................... beneficiary’s share of the total business income tax 2. Idaho percentage. Schedule A, credits allowed from Form 44, Part I, line 10, and enter line 17 ..................................................... % the total of these amounts on the credits line of Form 66, 3. Exemption. Multiply line 1 by line 2 ....... line 16. Don’t enter the total credit earned by the trust or estate if the trust or estate isn’t paying the tax for all Line 12 Donation to Opportunity Scholarship beneficiaries. Include Form 44. Program You can make a voluntary donation to the Idaho Line 16 Tax on Income Distribution Opportunity Scholarship Program. The amount If the trust or estate pays the tax on a beneficiary’s designated will either reduce your refund or increase income distribution, this income is taxed at the corporate your tax due. Your choice to donate can’t be changed; rate of 6%. If a trust or estate files as a pass-through you can’t get a refund later. entity and includes nonresident beneficiary income in a composite return, this amount is the same as the total Contributions help provide need-based scholarship on Form PTE-12 column (c). Any credits from the estate funds to Idaho high school graduates who or trust that flow through to the beneficiary can be used attend approved higher education institutions to offset the tax attributable to that beneficiary. Include in Idaho. For more information about the Idaho a schedule showing this computation. Opportunity Scholarship Program, please visit www.boardofed.idaho.gov/scholarship/opportunity.asp. EIN00044 12-30-2022 Page 2 of 9 |
Form 66 — Instructions 2022 (continued) Line 17 Permanent Building Fund (PBF) Tax Line 20 Sales/Use Tax Due A trust or estate that meets the Idaho filing If you purchased an item from an out-of-state seller requirement and doesn’t distribute all of its Idaho (including internet, catalog, radio, and TV purchases) adjusted income must pay the $10 PBF tax. For and the seller didn’t collect sales tax on that purchase, example, if the trust pays tax on capital gains, the $10 you must pay the use tax directly to the Tax Commission. PBF tax is required. Multiply the total amount of these purchases by 6% (.06). If a trust or estate reports income on line 14 and If you computed use tax on Form 75, add it to the use pays the tax on income paid to nonresident individual tax on other purchases and enter the total here. beneficiaries, it’s required to pay the $10 PBF tax If you have an Idaho sales or use tax account, don’t enter for each beneficiary. A trust or estate must pay the your sales or use tax on this line, but continue to report PBF tax for each nonresident individual beneficiary the tax on these purchases on your sales and use tax included in the composite return. returns. If all the Idaho adjusted income is distributed to beneficiaries who file Idaho income tax returns, the Line 21 Tax From Recapture of Qualified Investment trust or estate doesn’t owe this tax. Exemption (QIE) If you’ve claimed the QIE for property tax on property Enter zero if this is a QFT. that no longer qualifies before the end of the five-year Line 18 Total Tax From Recapture of Income Tax recapture period, you must recapture part or all of the Credits property tax benefit. Enter the amount from Form 49ER, If the trust or estate pays the tax for one or more Part III, line 18. Include Form 49ER. beneficiaries, include on this line those beneficiaries’ Line 22 Tax on ESBT or QFT Composite Return share of the total tax from recapture of income tax Don’t include ESBT and QFT items on Schedule A. credits from Form 44, Part II, line 6. Include Form 44. ESBTs: If the trust is an ESBT, the portion that consists Line 19 Fuels Tax Due of stock in one or more S corporations is treated as a If you buy gasoline, aircraft fuel, or special fuels separate trust, and you must compute the tax separately (diesel, propane, or natural gas) without paying the on that separate trust. fuels tax and later use this fuel in licensed vehicles Use the ESBT Tax Worksheet below to figure the Idaho or aircraft, you owe fuels tax. Add the amounts on ESBT tax. Form 75, Section IV, lines 3 and 4, and enter the total here. Include Form 75. Don’t claim an income distribution deduction, an exemption amount, or a deduction for capital losses in excess of capital gains. Electing Small Business Trust (ESBT) Tax Worksheet Idaho Amounts 1. Interest and dividend income. Interest Dividends Enter total ......... 1 2. Income or (loss). Business Farm Enter total ........................... 2 3. Gain or (loss). Capital Ordinary Enter total ................................... 3 4. Rents, royalties, partnerships, other estates and trusts, etc. ........................................................................ 4 5. Other income. Include explanation ................................................................................................................ 5 6. Total income. Add lines 1 through 5 ......................................................................................................... 6 Column A - Federal Column B - Idaho 7. Column A – Total income from federal Form 1041, line 9 Column B – Total income from line 6 ....................................................................... 7 8. Interest and dividends not taxable under Internal Revenue Code .......................... 8 9. Bonus depreciation addition. Include a schedule .................................................... 9 10. Other additions. Include a schedule ........................................................................ 10 11. Idaho net operating loss. Carryover Carryback ....... 11 12. Income exempt from Idaho tax. Include a schedule ................................................ 12 13. Bonus depreciation subtraction. Include a schedule ............................................... 13 14. Other subtractions. Include a schedule ................................................................... 14 15. Qualified business income deduction. See instructions .......................................... 15 EIN00044 12-30-2022 Page 3 of 9 |
Form 66 — Instructions 2022 (continued) Column A - Federal Column B - Idaho 16. Add lines 7 through 10, and subtract lines 11 through 15 ....................................... 16 17. Idaho percentage. Divide line 16, Column B by line 16, Column A .......................................................... 17 % Deductions 18. Interest .................................................................................................................... 18 19. Fiduciary fees .......................................................................................................... 19 20. Charitable contribution deduction ............................................................................ 20 21. Attorney, accountant, return preparation fees ......................................................... 21 22. Other deductions not subject to 2% limit ................................................................. 22 23. Total deductions. Add lines 18 through 22 ................................................................................................ 23 24. Multiply line 17 by line 23 .......................................................................................................................... 24 25. Idaho taxable income. Subtract line 24 from line 16, Column B ............................................................... 25 26. Idaho ESBT tax. Multiply line 25 by 6% ..................................................................................................... 26 27. Credit for income tax paid to other states ................................................................................................. 27 28. Credit for contributions to Idaho educational entities ................................................................................ 28 29. Credit for contributions to Idaho youth and rehabilitation facilities ............................................................ 29 30. Total business income tax credits from Form 44, Part I, line 10. Include Form 44 .................................... 30 31. Tax paid by affected business entity on the trust’s behalf ......................................................................... 31 32. Total tax from recapture of income tax credits from Form 44, Part II, line 6. Include Form 44 .................. 32 33. Tax on Electing Small Business Trust. Add lines 26 and 32, then subtract from lines 27 through 31. Enter total here and on Form 66, page 1, line 22 .................................................................. 33 Worksheet Line 28 Credit for Contributions to • $100, or Idaho Educational Entities — If the trust donated • The tax on ESBT worksheet, line 26 less the cash to a qualified educational entity, the trust can amount from the ESBT worksheet, line 27. claim a tax credit. Donation of goods or services don’t qualify. After calculating the credit amount, the trust can add any amounts reported on Form ID K-1, Part XI, line 65 Include amounts from Form ID K-1, Part VIII, line 55 to that amount. The total credit can’t exceed $100. to calculate the credit amount. Worksheet Line 31 Tax Paid by Affected Business The credit is limited to the smallest of: Entity — Enter the amount of tax paid by the affected • One-half of the amount donated business entity on the trust’s share of the affected • 50% of the tax on ESBT worksheet, line 26 business entity income. • $500 QFTS: If the trust files a composite QFT return, use the • The tax on ESBT worksheet, line 26 less the same information and schedules for Idaho as you use to amount from the ESBT worksheet, line 27. determine tax on federal Form 1041-QFT. Calculate each After calculating the credit amount, you can add any QFT’s Idaho taxable income and liability on a separate amounts reported on Form ID K-1, Part XI, line 63 to schedule, and include it with the composite Idaho return. that amount. The total credit can’t exceed $500. To arrive at the QFT’s Idaho taxable income, each QFT Worksheet Line 29 Credit for contributions to included in the Idaho composite return should start Idaho youth and rehabilitation facilities — If the with its federal taxable income as reported in the detail trust donated cash or goods to a qualified Idaho youth information attached to the federal Form 1041-QFT and rehabilitation facility, the trust can claim a tax composite return. Each QFT’s federal taxable income is credit. then subject to the Idaho modifications listed on Form 66, Schedule A. Include amounts from Form ID K-1, Part VIII, line 56 to calculate the credit amount. A QFT isn’t entitled to claim the exemption deduction in computing Idaho taxable income. The credit is limited to the smallest of: Report the total of the Idaho income tax due for all of the • One-half of the amount donated QFTs on line 22. • 20% of the tax computed on the ESBT worksheet, line 26 EIN00044 12-30-2022 Page 4 of 9 |
Form 66 — Instructions 2022 (continued) Line 24 Estimated Tax Payments Line 32 Nonrefundable Credit From a Prior Year Enter the total amount of payments made and the Return amount applied from your 2021 return. If payment is If you were denied a refund from an overpayment of made under other EINs, provide a schedule with the tax on a prior year return because of the three-year EINs, amounts, and rollforwards. Rollforwards are statute of limitations, you may be eligible to take refund amounts from the prior year that are rolled a credit for the amount. See Idaho Form 44 for forward to the taxpayer’s current year account rather calculation of your credit and include it with your than being refunded to the taxpayer. return. Line 25 Idaho Income Tax Withheld Line 35 Refund/Apply to 2023 Enter the amount of Idaho income tax withheld and not repaid by an employer on wages and salaries of Refund a decedent’s estate. Include state copies of W-2s or Enter the amount of your overpayment from line 34 1099s. that you want refunded to you. Refunds of less than Line 26 Tax Paid by Affected Business Entity $1 won’t be issued. You have three years from the Enter the amount of tax paid by the affected business return’s due date (not including extensions) to claim entity on the trust’s share of the affected business a refund. Refunds will be reduced by unpaid Idaho entity income. tax liabilities and can be applied to unpaid liabilities owed to other agencies. For trusts and estates that distribute their income to their beneficiaries, the credit for tax paid by the ABE The agency or party seizing the refund must send should be apportioned between the trust or estate and you notice of the action. Questions about a refund the beneficiaries in the same proportion as the income seizure should be directed to the agency or party is allocated to and reported by the trust or estate and that initiated the claim for seizure. the beneficiaries. Apply to 2023 If the trust is a grantor trust, the ABE information If you’re filing an original return, subtract the should be included in the grantor letter along with the amount you want to refund from line 34. Any income information. The beneficiaries will report their difference will be applied to your 2023 tax and share of the payment on their individual tax return. won’t be refunded. Line 27 Special Fuels and Gasoline Tax Refund The special fuels (diesel, propane, or natural gas) Schedule A tax refund is available to those who use the fuel for All trusts and estates must complete Schedule A. heating or in off-highway equipment and have paid the tax on the special fuels purchased. Enter the amount Line 1 Interest and Dividend Income from Form 75, Section IV, line 2. Include Form 75. If you’re a resident or part-year resident trust or estate, include any taxable interest and dividend income The gasoline tax refund is available to those who buy received in 2022 while an Idaho resident. and use gasoline in off-highway equipment or auxiliary engines. Enter the amount from Form 75, Section IV, For any part of the year you’re a nonresident trust or line 1. Include Form 75. estate, include any taxable interest and dividend income from Idaho sources received in 2022. Line 28 Tax Reimbursement Incentive Credit Enter the total credit allowed from the Idaho Line 2 Income or (Loss) Reimbursement Incentive certificate. Include a copy of If you’re a resident or part-year resident trust or estate, the certificate with the return. include any business or farm income or loss received in 2022 while an Idaho resident. Line 31 Penalty and Interest Penalty: Idaho law provides penalties for not filing tax For any part of the year you’re a nonresident trust or returns by the due date, not paying tax due on time, estate, include any business or farm income or loss from and not prepaying enough on extension returns. For Idaho sources received in 2022. more information or to calculate a penalty, see our Line 3 Gain or (Loss) Penalties and Interest page at tax.idaho.gov/penalties. If you’re a resident or part-year resident trust or estate, Interest: Interest is charged from the due date until include any capital or ordinary gain or loss received in paid. The rate for 2023 is 5%. EIN00044 12-30-2022 Page 5 of 9 |
Form 66 — Instructions 2022 (continued) 2022 while an Idaho resident. hadn’t been claimed For any part of the year you’re a nonresident trust or • Compute the Idaho adjusted basis and any gains estate, include any capital or ordinary gain or loss or losses from the sale or exchange of property from Idaho sources received in 2022. using the Idaho depreciation amounts • If the federal depreciation (including gains and Line 4 Rents, Royalties, Partnerships, Other losses) is less than the Idaho depreciation Estates and Trust (including gains and losses), include the difference If you’re a resident or part-year resident trust or estate, as a deduction on this line; otherwise, enter the include any rents, royalties, partnership or other estate difference on Column A, line 9 and trust income received in 2022 while an Idaho resident. Don’t enter any amounts for property acquired during 2008 and 2009. For any part of the year you’re a nonresident trust or estate, include any rents, royalties, partnership or Column A If the federal depreciation is more than other estate and trust from Idaho sources received in the depreciation calculated without the bonus 2022. depreciation, include the difference on this line. If you’re a partner in a partnership that has Idaho source Line 5 Other Income income, include your distributive share from Form ID If you’re a resident or part-year resident trust or estate, K-1, Part IV, Column A, line 22. include any other income received in 2022 while an Column B If the federal depreciation is more than the Idaho resident. depreciation calculated without the bonus depreciation, For any part of the year you’re a nonresident trust or include the difference on this line for the time you were estate, include any other income from Idaho sources an Idaho resident or from Idaho sources. Include on this received in 2022. line your apportioned share from Form ID K-1, Part IV, Include a schedule detailing the sources and amounts Column B, line 22. of other income. Line 10 Other Additions Line 8 Interest and Dividends not Taxable Under Column A Enter any miscellaneous Idaho additions. Include a schedule identifying each addition. Include Internal Revenue Code (IRC) Column A Enter the interest and dividends net of unrelated business taxable income on this line. If you’re applicable amortization received or accrued from a partner in a partnership that has Idaho source income, obligations of any state or political subdivision include your distributive share from Form ID K-1, Part IV, excluded from federal taxable income under the Column A, line 23. provisions of the IRC. If you’re a partner in a Column B Enter the portion of miscellaneous Idaho partnership that has Idaho source income, include deductions, from Column A, while you were an your distributive share from Form ID K-1, Part IV, Idaho resident. Include your distributive share from Column A, line 21. This amount can’t be less than Form ID K-1, Part IV, Column B, line 23. zero. Line 11 Idaho Net Operating Loss (NOL) Carryover Column B Enter the interest and dividends net of and Carryback applicable amortization received or accrued from Columns A and B Enter the Idaho NOL carryover. obligations of any state or political subdivision Include Form 56 or a schedule showing the application of excluded from federal taxable income under the the loss. Don’t include losses from sources that weren’t provisions of the IRC received while a resident of taxable by Idaho or that were incurred before becoming a Idaho or from Idaho sources. Include on this line resident or part-year resident. your apportioned share from Form ID K-1, Part IV, Column B, line 21. This amount can’t be less than If this is an amended return to claim an NOL carryback, zero. enter the amount of the NOL carryback. Include Form 56 or a schedule showing the application of the loss. Line 9 Addition for Bonus Depreciation Enter the total of the NOL carryover and carryback If you claimed federal bonus depreciation for property amounts. placed in service before 2008 or after 2009: • Complete a separate federal Form 4562 or Line 12 Income Exempt From Idaho Tax detailed computation for Idaho depreciation Column A Enter the amount of interest income received purposes as if the special depreciation allowance from U.S. government obligations (U.S. Savings Bonds, etc.) and Idaho municipal securities not distributed. EIN00044 12-30-2022 Page 6 of 9 |
Form 66 — Instructions 2022 (continued) Expenses related to the production of this income reduce Form ID K-1, Part IV, Column A, lines 26 and 28. the amount you enter here. This amount is adjusted Enter the portion of miscellaneous Idaho Column B to reflect the estate tax deduction on page 1, line 6, deductions, from Column A, while you were an attributed to income exempt from Idaho tax. Idaho resident. Include your distributive share from The fiduciary must provide the beneficiary with the Form ID K-1, Part IV, Column B, lines 26 and 28. necessary information if a portion of this adjustment was distributed. Include a schedule showing your Line 16 Deductions From Federal Form 1041 computations. If you’re a partner in a partnership that Don’t include state income taxes deducted on has Idaho source income, include your distributive Form 1041, line 11. share from Form ID K-1, Part IV, Column A, lines 24 and 25. Schedule B Column B Enter the portion of income exempt Compute tax credits according to the following from Idaho tax, from Column A, while you were an instructions and the instructions accompanying the Idaho resident. Include your distributive share from appropriate forms. Credits pass through to beneficiaries Form ID K-1, Part IV, Column B, lines 24 and 25. the same way income and expenses are distributed. The fiduciary must provide each beneficiary with an Line 13 Subtraction for Bonus Depreciation Idaho Form ID K-1. This form shows the beneficiary’s If you claimed federal bonus depreciation for property share of credits earned, credits subject to recapture, placed in service before 2008 or after 2009: and contribution information needed to calculate • Complete a separate federal Form 4562 or certain credits. Each beneficiary uses this information detailed computation for Idaho depreciation to determine the amount of Idaho credit allowed, purposes as if the special depreciation recapture required, and credit carryovers that exist allowance hadn’t been claimed on the beneficiary’s Idaho income tax return. Credits • Compute the Idaho adjusted basis and any reported by each beneficiary are subject to the gains or losses from the sale or exchange of limitations applicable to that beneficiary. Include copies property using the Idaho depreciation amounts of Form ID K-1 with your return for the year when the • If the federal depreciation (including gains and credit is earned. losses) is less than the Idaho depreciation If an individual beneficiary’s share of income is taxed on (including gains and losses), include the the trust or estate return, the tax can be offset by that difference as a deduction on this line; otherwise, beneficiary’s share of credits. Credits applied to this tax enter the difference on Column A, line 9 are computed based on the credit limitations applicable Don’t enter any amounts for property acquired during to trusts or estates. For example, if a partnership pays 2008 and 2009. the tax for three individual beneficiaries, the amount of credit for contributions to educational institutions is the Column A If the federal depreciation is less than lesser of the following amounts: the depreciation calculated without the bonus • 50% of the three beneficiaries’ share of the amount depreciation, include the difference on this line. If donated you’re a partner in a partnership that has Idaho source income, include your distributive share from Form ID • 50% of the tax computed for the three beneficiaries, or K-1, Part IV, Column A, line 27. • $500 Column B If the federal depreciation is less than the Credits allowed to a beneficiary that aren’t used to depreciation calculated without the bonus depreciation, offset that beneficiary’s tax can’t be used to offset the include the difference on this line for the time you were tax computed for other beneficiaries. The broadband an Idaho resident or from Idaho sources. Include on equipment investment credit can be transferred to this line your apportioned share from Form ID K-1, another taxpayer rather than used by the taxpayer who Part IV, Column B, line 27. earns the credit. Line 14 Other Subtractions To claim a credit you acquired through a transfer, include Column A Enter any miscellaneous Idaho deductions. a copy of Form 70, Idaho Statement of Credit Transfer, Include a schedule identifying each addition. If with each return you’re claiming transferred credit on. you’re a partner in a partnership that has Idaho Line 1 Property Tax Exemption source income, include your distributive share from Check the “Yes” box if you elected the property tax exemption on personal property that qualifies for the EIN00044 12-30-2022 Page 7 of 9 |
Form 66 — Instructions 2022 (continued) investment tax credit. Include a copy of Form 49E. colleges and universities • A nonprofit, private, or public Idaho school Line 2 Credit for Taxes Paid to Another State (elementary, secondary, or higher education) or This credit only applies to resident or part-year resident its foundation trusts or estates. • Idaho education public broadcast system An Idaho trust or estate must report all of its income foundations regardless of where it was earned. If the trust or estate also is taxed by another state on income reported on • The Idaho State Historical Society or its the Idaho return, it can claim a credit against the Idaho foundation tax. The credit is limited to the proportion of the Idaho • An Idaho public library or its foundation tax that the federal total income of the trust or estate • An Idaho library district or its foundation derived from sources in the other state and taxed by • An Idaho public or private nonprofit museum that state bears to the federal total income. • The Idaho Commission for Libraries If you have credit for taxes paid to more than one • Idaho Commission on Hispanic Affairs state, use a separate Schedule B for each state. You must include a copy of the other state’s tax return with • Idaho Commission for the Blind and Visually your Idaho return. Enter the total on line 2g. Amounts Impaired on line 2d should be rounded to four digits to the right • Idaho Council on Developmental Disabilities of the decimal point. For example, .66666 is rounded • Idaho State Independent Living Council to .6667 and should be entered as 66.67%. • Idaho STEM Action Center If the trust is an ESBT, complete a separate • Idaho Council for the Deaf and Hard of Hearing Schedule B for the S corporation items. Modify the • Medical residency programs or support Schedule B to report the applicable S corporation organizations devoted to training residents in amounts from the ESBT tax computation schedules. Idaho Line 3 Credit for Contributions to Idaho Educational Line 4 Credit for Contributions to Idaho Youth and Entities Rehabilitation Facilities Cash donations made by a trust or estate to a qualified educational entity can qualify for a tax credit. A trust or estate can claim this credit if it donated cash or Donations of goods or services don’t qualify. goods to the following: Include amounts from Form ID K-1, Part VII, line 55 to • Qualified center for independent living calculate the credit amount. • Youth or rehabilitation facility or its foundation, or If the trust or estate pays the tax for one or more • Nonprofit substance abuse center licensed by the beneficiaries, the credit is limited to the smallest of: Idaho Department of Health and Welfare • The beneficiary’s share of one-half of the amount Include amounts from Form ID K-1, Part VII, line 56 to donated calculate the credit amount. • 50% of the tax computed for the beneficiary If the trust or estate pays the tax for one or more • $500, or beneficiaries, the credit is limited to the smallest of: • The beneficiary’s tax, minus the amount on • The beneficiary’s share of one-half of the amount Schedule B, line 2g attributable to that beneficiary donated After calculating the credit amount, the trust or estate • 20% of the tax computed for the beneficiary can add any amounts reported on Form ID K-1, • $100, or Part XI, line 63 to that amount. The total credit can’t • The beneficiary’s tax less the amounts on line 3 exceed $500. and Form 44, Part I, line 1 Don’t enter the total credit earned by the trust or After calculating the credit amount, the trust or estate estate if the trust or estate isn’t paying the tax for all can add any amounts reported on Form ID K-1, the beneficiaries. Part XI, line 65 to that amount. The total credit can’t A qualified educational entity includes: exceed $100. • A nonprofit corporation, fund, foundation, Don’t enter the total credit earned by the trust or estate research park, trust, or association organized if the trust or estate isn’t paying the tax for all the and operated exclusively for the benefit of Idaho EIN00044 12-30-2022 Page 8 of 9 |
Form 66 — Instructions 2022 (continued) beneficiaries. Coeur d’Alene The qualified youth or rehabilitation facilities and their • Living Independence Network Corporation, Boise foundations are: and Twin Falls • Anchor House • Living Independently For Everyone, Inc., Blackfoot, • The Arc, Inc., Boise Idaho Falls, and Pocatello • The Children’s Home Society of Idaho, Inc., Boise Line 5 Total Business Income Tax Credits • The Children’s Village, Inc., Coeur d’Alene Enter the total business income tax credits from • Dawn Enterprises, Inc., Blackfoot Form 44, Part I, line 10. Include Form 44. • Development Workshop, Inc., Idaho Falls Signature • Gem Youth Services, Emmett The fiduciary or an officer representing the fiduciary must • Hope House, Inc., Nampa sign the return. • Idaho Drug Free Youth, Inc., Coeur d’Alene • Idaho Elks Rehabilitation Hospital, Inc., Boise Tax Preparer Check this box if you paid a tax preparer to complete • Idaho Youth Ranch your return, and you’re authorizing the Tax Commission • Kinderhaven, Sandpoint to discuss your return with the paid preparer identified on • Learning Lab, Inc., Boise your return. • Magic Valley Rehabilitation Services, Inc.,Twin Falls You’re also authorizing the paid preparer to: • New Day Products, Inc., Pocatello • Give the Tax Commission any information that’s • Northwest (North Idaho) Children’s Home missing from your return, and • Opportunities Unlimited, Inc., Lewiston • Call the Tax Commission for information about • Panhandle Special Needs, Inc., Sandpoint the processing of your return or the status of your refund or payments • Project P.A.T.C.H. (Planned Assistance for Troubled Children) You aren’t authorizing the paid preparer to receive • Shepherd’s Home, Inc., McCall any refund check, bind you to anything including any additional tax liability, or otherwise represent you before • Transitional Employment Services for the the Tax Commission. Handicapped, Coeur d’Alene This authorization is valid for up to 180 days from the • Walker Center, Gooding date the Tax Commission receives the return. If you • Winchester Occupational Workshop, Winchester want the Tax Commission to contact you instead of your • Witco Inc., Caldwell preparer, leave the box blank. • Women’s and Children’s Alliance The following are the qualified centers for independent living: • Disability Action Center Northwest, Moscow and Idaho Fiduciary Tax Computation Schedule If Idaho taxable income is: The tax is: Less than or equal to $1,662 .............................................. 1% of Idaho taxable income, line 10 Over $1,662 but not over $4,987 ........................................ $16.62 plus 3% of excess over $1,662 Over $4,987 but not over $8,311 ........................................ $116.36 plus 4.5% of excess over $4,987 $8,311 or more ................................................................... $265.96 plus 6% of excess over $8,311 Contact us: In the Boise area: (208) 334-7660 | Toll free: (800) 972-7660 Hearing impaired (TDD) (800) 377-3529 tax.idaho.gov/contact EIN00044 12-30-2022 Page 9 of 9 |