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The estate or trust uses Schedule K-1 (541) to report your share of the estate's or trust's income, deductions, credits, etc. Your name, address, and tax Attach a separate schedule to each beneficiary's Schedule K-1 (541) showing intangible income, such as interest, dividends, capital gains from the sale of Who needs a Schedule K-1 (541) form? This form is used by the estates and trusts in the state of California to report to the Franchise Tax Board about theinstructions for California Schedule CA (540 or The California Schedule K-1 (541), Beneficiary's the Form 541, California Fiduciary Income Tax. IT-541i (1/20). General Information and Instructions for. Completing Form IT-541 Fiduciary Income Tax Return. Who Must File a Return. Enter this adjustment amount on the corresponding line of Schedule CA (540 or. 540NR), California Adjustments, or Form 541,. California Fiduciary Income Tax Include the estate's or trust's FEIN at the top of each separate attachment. Income (Loss). (e). California source amounts and credits. (d). Total B Number of Schedules K-1 attached. plus Line 2C, less Line 3D OR print the amount from Form IT-541 Schedule A, Line 12.).