Schedule M-1mt - Alternative Minimum Tax - Minnesota Department Of Revenue - 1998
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1Schedule M-1MT
MINNESOTA Department of Revenue
Attachment Sequence #16
Alternative Minimum Tax 1998
Your last name
Social Security number
Read the instructions before you fill this out. The instructions for this schedule are on a separate sheet.
1 Federal alternative minimum taxable income
.
(from line 21 of your federal Form 6251) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
.
2 Federal itemized deductions (determine from instructions) . . . . . . . . . 2
.
3 Total of lines 3, 4, and 5 of federal Form 6251 . . . . . . . . . . . . . . . 3
.
4 Subtract line 3 from line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
5 Other additions (determine lines 5a–5d from the instructions)
5a Interest from bonds of another state or from its governmental units
5b Intangible drilling costs
5c Depletion
.
5d Shareholders of financial institutions electing be to S corporations
. . . . . . . 5
.
6 Add lines 1, 4, and 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
.
7 Net interest from U.S. bonds (determine from instructions) . . . . . . . . . 7
8 Railroad Retirement Board benefits and/or reservation income you
.
are eligible to claim on line 5b of Form M-1 (see instructions) . . . . . . 8
9 Other subtractions (determine lines 9a–9f from the instructions)
9a Investment interest expense . . . . . . . . . . . . . .
9b Minnesota charitable contributions . . . . . . . . . .
9c Medical expenses . . . . . . . . . . . . . . . . . . .
9d Impairment-related work expenses of a disabled person
9e Shareholders of electing S corporation banks .
.
9f Casualty and theft losses . . . . . . . . . . . . . .
9
.
10 Add lines 7, 8, and 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
.
11 Subtract line 10 from line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
12 If married and filing joint, or qualifying widow(er):
fill in $40,000
If married and filing separate:
fill in $20,000
.
If single or head of household:
fill in $30,000 . . . . . . . . . . . . . . . . . 12
13 If married and filing joint, or qualifying widow(er): fill in $150,000
If married and filing separate:
fill in $ 75,000
.
If single or head of household:
fill in $112,500 . . . . . . . . . . . . . . . . . 13
.
14 Subtract line 13 from line 11. If the result is less than zero, fill in zero . . . . . . . . . . . . . . . . 14
.
15 Multiply line 14 by 25% (.25) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
.
16 Subtract line 15 from line 12. If the result is less than zero, fill in zero . . . . . . . . . . . . . . . . 16
.
17 Subtract line 16 from line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
.
18 Multiply line 17 by 7% (.07) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
.
19 Tax from the table in the M-1 instructions for the amount on line 6 of your Form M-1 . . . . . . 19
.
20 Amount from line 18 or 19, whichever is larger (see instructions on how to continue) . . . . . . 20
21 If line 19 is greater than line 18 and you paid an alternative minimum tax in a year after
.
1988, fill in the amount from line 20 (part-year and nonresidents: determine from instructions) . . 21
.
22 Credit from line 29 of Schedule M-1MTC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
23 Subtract line 22 from line 21. Fill in the result here and on line 7 of Form M-1 or, if required,
.
on line 4 of Schedule M-1CR, line 13 of Schedule M-1LS or line 8 of Schedule M-1SP . . . . . 23
Attach this schedule and a copy of federal Form 6251 to your Form M-1.
Check the box for Schedule M-1MT on your Form M-1.
Stock No. 1098070
Printed on recycled paper with 10% post--consumer waste using soy-based ink.
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