Form 1041 - Us Income Tax Return For Estates And Trusts - 2007 Page 4
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44
Form 1041 (2007)
Page
Part III—Alternative Minimum Tax
$22,500
00
45
Exemption amount
45
46
46
Enter the amount from line 29
$75,000
00
47
47
Phase-out of exemption amount
48
48
Subtract line 47 from line 46. If zero or less, enter -0-
49
49
Multiply line 48 by 25% (.25)
50
50
Subtract line 49 from line 45. If zero or less, enter -0-
51
51
Subtract line 50 from line 46
52
Go to Part IV of Schedule I to figure line 52 if the estate or trust has qualified dividends or has
a gain on lines 14a and 15 of column (2) of Schedule D (Form 1041) (as refigured for the AMT,
if necessary). Otherwise, if line 51 is—
$175,000 or less, multiply line 51 by 26% (.26).
52
Over $175,000, multiply line 51 by 28% (.28) and subtract $3,500 from the result
53
53
Alternative minimum foreign tax credit (see page 35 of the instructions)
54
54
Tentative minimum tax. Subtract line 53 from line 52
55
55
Enter the tax from Schedule G, line 1a (minus any foreign tax credit from Schedule G, line 2a)
56
Alternative minimum tax. Subtract line 55 from line 54. If zero or less, enter -0-. Enter here and
on Schedule G, line 1c
56
Part IV—Line 52 Computation Using Maximum Capital Gains Rates
Caution: If you did not complete Part V of Schedule D (Form 1041), the Schedule D Tax Worksheet,
or the Qualified Dividends Tax Worksheet, see page 36 of the instructions before completing this part.
57
57
Enter the amount from line 51
58
Enter the amount from Schedule D (Form 1041), line 22, line 13 of the
Schedule D Tax Worksheet, or line 4 of the Qualified Dividends Tax
58
Worksheet, whichever applies (as refigured for the AMT, if necessary)
59
Enter the amount from Schedule D (Form 1041), line 14b, column (2)
(as refigured for the AMT, if necessary). If you did not complete
59
Schedule D for the regular tax or the AMT, enter -0-
60
If you did not complete a Schedule D Tax Worksheet for the regular tax
or the AMT, enter the amount from line 58. Otherwise, add lines 58 and
59 and enter the smaller of that result or the amount from line 10 of the
60
Schedule D Tax Worksheet (as refigured for the AMT, if necessary)
61
61
Enter the smaller of line 57 or line 60
62
62
Subtract line 61 from line 57
63
If line 62 is $175,000 or less, multiply line 62 by 26% (.26). Otherwise, multiply line 62 by
63
28% (.28) and subtract $3,500 from the result
64
$2,150
00
64
Maximum amount subject to the 5% rate
Enter the amount from line 23 of Schedule D (Form 1041), line 14 of
65
the Schedule D Tax Worksheet, or line 5 of the Qualified Dividends
Tax Worksheet, whichever applies (as figured for the regular tax). If
you did not complete Schedule D or either worksheet for the regular
65
tax, enter -0-
66
66
Subtract line 65 from line 64. If zero or less, enter -0-
67
67
Enter the smaller of line 57 or line 58
68
68
Enter the smaller of line 66 or line 67
69
69
Multiply line 68 by 5% (.05)
70
70
Subtract line 68 from line 67
71
71
Multiply line 70 by 15% (.15)
If line 59 is zero or blank, skip lines 72 and 73 and go to line 74. Otherwise, go to line 72.
72
72
Subtract line 67 from line 61
73
73
Multiply line 72 by 25% (.25)
74
74
Add lines 63, 69, 71, and 73
75
If line 57 is $175,000 or less, multiply line 57 by 26% (.26). Otherwise, multiply line 57 by
75
28% (.28) and subtract $3,500 from the result
76
76
Enter the smaller of line 74 or line 75 here and on line 52
1041
Form
(2007)
Printed on recycled paper
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