IT-141: Fiduciary Income Tax Return (2024)
West Virginia · WV Tax Division · Used for tax years 2024
Form IT-141 is the 2024 West Virginia Fiduciary Income Tax Return for estates and trusts. It reports federal taxable income, West Virginia income adjustments, tax, credits, payments, and any balance due or refund, along with income and tax paid for nonresident beneficiaries.
Who files this form
Form IT-141 is West Virginia’s fiduciary income tax return for estates and trusts. It includes resident and nonresident filing options and entity types such as simple trusts, complex trusts, decedents’ estates, and bankruptcy estates.
The form does not state income thresholds or complete rules for who must file. It does state that a final individual return must be filed for a decedent.
What you'll need
- Federal return information: Line 1 uses federal taxable income from Form 1041, line 23, or Form 1041-QFT, line 11.
- Estate or trust details: Name, FEIN, trustee or executor name, address, and filing period. For a decedent, the form asks for the date of death and Social Security number.
- Beneficiary information: Schedule SB asks for names, addresses, Social Security numbers, filing methods, shares of West Virginia income, and withholding amounts. Attach additional copies as needed.
- Income and payment information: Gather the amounts needed for West Virginia additions and subtractions, withholding, estimated payments, and payments made with an extension. Amended returns also ask for original-return payments and previous refunds or credits.
- Tax credit attachments: To claim a tax credit, enclose the Tax Credit Recap Schedule and the appropriate credit calculation schedules or forms.
- Nonresident deduction attachment: Schedule NR, line 20, asks for a copy of IRS Form 8995 or 8995-A for the qualified business income deduction.
- Direct deposit details: If requesting direct deposit, provide the account type, routing number, and account number.
Common mistakes
- Incorrect bank details: Review your direct deposit information for accuracy. The form warns that incorrect account information may result in a $15.00 returned payment charge.
- Missing credit attachments: The Tax Credit Recap Schedule and the appropriate credit calculation schedules or forms must be enclosed to claim a tax credit.
- Completing fields that should be skipped: A simple trust with no taxable income must omit lines 5 through 7 on page 1 and Column II of Schedule B.
- Overlooking the decedent’s final individual return: The form states that a final individual return must be filed for the decedent.
Questions people ask
Where do I get the federal taxable income amount for line 1?
Use line 23 of Federal Form 1041 or line 11 of Form 1041-QFT.
Which schedule is for nonresident estates and trusts?
Schedule NR covers nonresident income, allocation, and tax calculations. Part I is to be completed by nonresident estates and trusts only.
Can I apply an overpayment to next year’s tax?
Yes. Enter the amount to apply to next year’s tax on line 19. Line 20 is the amount to be refunded, calculated by subtracting line 19 from line 18.
Can I receive my refund by direct deposit?
The form includes a direct deposit option for a checking or savings account. Enter your routing and account numbers and review them for accuracy.
Can I authorize the State Tax Division to discuss my return with my preparer?
Yes. The form has a Yes/No choice for that authorization.