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IRS Instructions for Schedule K-1 explain how to report your share of income, credits, deductions, and more. Whether you are a partner, member, S-Corp, Income to be reported by beneficiaries (Form 1041,. Schedule K-1 included—see instructions; total or net of lines 2 and 5a) . 12/2017. Schedule CT-1041 K-1. Beneficiary's Share of Certain Connecticut Items. 12/2017 Instructions for Forms CT-12-717A and CT-12-717B. For the calendar year 2017 or fiscal year beginning M M D D 2 0 1 7 and If the individual beneficiary's federal Schedule K-1 (Form 1041) includes an Report separately in box 12 of. Schedule K-1 (Form 1041),. Beneficiary's Share of Income,. Deductions, Credits, etc., any adjustments or tax preference items. 4 Exemption claimed on U.S. Form 1041. 4. 00. 4. 00. 5 Illinois income and replacement tax and surcharge deducted in arriving at Line 1. 5a.A copy of each beneficiary's Schedule K-1 (541) must be attached to the Form 541, California Fiduciary Income Tax Return, filed with the Franchise Tax Board Schedule K-1. (Form 1041). 2017. Beneficiary's Share of Income, Deductions,. Credits, etc. See back of form and instructions. OMB No. 1545-0092.