California Schedule P (541) - Alternative Minimum Tax And Credit Limitations - Fiduciaries - 2008

Download a blank fillable California Schedule P (541) - Alternative Minimum Tax And Credit Limitations - Fiduciaries - 2008 in PDF format just by clicking the "DOWNLOAD PDF" button.

Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.

Complete California Schedule P (541) - Alternative Minimum Tax And Credit Limitations - Fiduciaries - 2008 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.

Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.

Alternative Minimum Tax and

TAXABLE YEAR

CALIFORNIA SCHEDULE

2008

P (541)

Credit Limitations — Fiduciaries

Attach this schedule to Form 541.

Name(s) as shown on Form 541

FEIN

Part I Fiduciary’s Share of Alternative Minimum Taxable Income (AMTI)

Adjusted total income (or loss). Enter the amount from Form 541, line 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2 Net operating loss (NOL) deduction, if any from Form 541, line 15a. Enter as a positive amount . . . . . . . . . . . . . . . . . . . . . . . . . . 2

3 Add line 1 and line 2, enter total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

Adjustments and tax preference items:

4 a Interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4a

b Personal property taxes and real property taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4b

c Miscellaneous itemized deductions from Form 541, line 15b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4c

(

)

d Refund of personal property taxes and real property taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4d

e Depreciation of property placed in service after 1986 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4e

Circulation and research and experimental expenditures paid or incurred after 1986 . . . . . . . . . . 4f

g Mining exploration and development costs paid or incurred after 1986. . . . . . . . . . . . . . . . . . . . . 4g

h Long-term contracts entered into after February 28, 1986. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4h

Amortization of pollution control facilities placed in service after 1986 . . . . . . . . . . . . . . . . . . . . . 4i

Installment sales of certain property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4j

k Adjusted gain or loss (including incentive stock options) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4k

Certain loss limitations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4l

m Tax shelter farm activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4m

n Passive activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4n

o Beneficiaries of other trusts or decedent’s estates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4o

p Appreciated property charitable deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4p

q Depletion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4q

Accelerated depreciation of real property placed in service before 1987 . . . . . . . . . . . . . . . . . . . . 4r

s Accelerated depreciation of leased personal property placed in service before 1987 . . . . . . . . . . . 4s

Intangible drilling costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4t

u California qualified stock options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4u

v Other adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4v

5 Combine line 4a through line 4v . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

6 Add line 3 and line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

Alternative minimum taxable income deduction and exclusion:

7 a Alternative minimum tax NOL deduction. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7a

b AMTI exclusion. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7b

c Add line 7a and 7b, enter total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7c

8 Adjusted alternative minimum taxable income. Subtract line 7c from line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

9 Income distribution deduction from Part II, line 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

0 Fiduciary’s share of alternative minimum taxable income. Subtract line 9 from line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .0

If line 0 is $40,007 or less and you are not claiming any credits, do not complete Part III and Part IV of this schedule.

Schedule P (541) 2008 Side

7991083