Form Ri-1041 - Rhode Island Fiduciary Income Tax Return - 2008 Page 3
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5RI-1041
2008
FIDUCIARY ALTERNATIVE MINIMUM TAX
Name of Estate or Trust
Federal Identification Number
PART 1
ALTERNATIVE MINIMUM TAX
1.
1.
Federal Alternative Minimum Taxable Income from Federal Form 1041, Schedule I, line 29.........................................................
2.
2.
Exemption - If line 1 is LESS than $84,050; enter $25,200. Otherwise, complete the exemption worksheet on page 12 ...........
3.
Subtract line 2 from line 1................................................................................................................................................................
3.
4.
If you figured the tax on RI-1041, Schedule D, complete part 2 and enter the amount from line 47 here. If you figured the tax
using the fiduciary tax rate schedule and line 3 is less than $175,000 then multiply line 3 by 6.5% (.0650). Otherwise, multi-
ply line 3 by 7% (.0700) and subtract $875 from the result.............................................................................................................
4.
5.
RI tax from RI-1041, page 1, line 8A.................................................................................................................................................
5.
6.
6.
RI Alternative minimum tax - subtract line 5 from line 4
(If zero or less, enter
zero). Enter here and on RI-1041, page 1, line 9.
PART 2
ALTERNATIVE MINIMUM TAX USING MAXIMUM CAPITAL GAINS RATES
PRIMARY TAX CALCULATION
7.
Enter the amount from line 3 above................................................................................................................................................
7.
8.
Enter the amount from RI-1041 Schedule D Tax WORKSHEET, line 34
(refigured for AMT, if necessary)
............................................................
8.
9.
Enter the amount from RI-1041 Schedule D Tax WORKSHEET, line 32
(refigured for AMT, if necessary)
.............................................................
9.
10.
Enter the amount from RI-1041 Schedule D, line 24, column (e)
(refig-
10.
ured for AMT, if necessary)
.....................................................................
11.
Add lines 8, 9 and 10 ... .........................................................................
11.
Enter the amount from RI-1041 Schedule D Tax WORKSHEET, line 29
12.
(refigured for AMT, if necessary)
............................................................. 12.
13.
Enter the SMALLER of line 11 or line 12 ............................................... 13.
14.
14.
Enter the SMALLER of line 7 or line 13 ...............................................
15.
Subtract line 14 from line 7
(If zero or less, enter
zero.)...................................................................
15.
16.
If line 15 is less than $175,000 then multiply line 15 by 6.5% (.0650). Otherwise, multiply line 15 by 7% (.0700) and subtract
$875 from the result........................................................................................................................................................................
16.
2.5% BRACKET
17.
Enter the amount from RI-1041 Schedule D Tax WORKSHEET, line 41
(refigured for AMT, if necessary)
.............................................................
17.
18.
Enter the amount from RI-1041 Schedule D Tax WORKSHEET, line 42
(refigured for AMT, if necessary)
.............................................................
18.
19.
Enter the SMALLER of line 17 or line 18.............................................................................................
19.
20.
Multiply line 19 by .83% (.0083).......................................................................................................................................................
20.
21.
Subtract line 18 from line 17
(If zero or less, enter zero.)
...................................................................
21.
22.
Multiply line 21 by 2.5% (.0250) ......................................................................................................................................................
22.
CONTINUED ON NEXT PAGE
Page 10
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