Form Ri-1041 - Rhode Island Fiduciary Income Tax Return - 2004 Page 4
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4RI-1041
2004
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 $75,000; enter $22,500. Otherwise, complete the exemption worksheet on page I-4 ...............
3.
3.
Subtract line 2 from line 1...................................................................................................................................................................
4.
If you figured the tax on RI-1041, Schedule D, complete part 2 and enter the amount from line 32 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% (.065). Otherwise, multiply
line 3 by 7% (.07) and subtract $875 from the result.........................................................................................................................
4.
5.
5.
Alternative minimum tax foreign tax credit - Federal Form 1041, Schedule I, line 53...........................
25%
6.
RI Rate...................................................................................................................................................
6.
7.
Alternative minimum foreign tax credit - multiply line 5 by line 6.......................................................................................................
7.
8.
Tentative minimum tax - subtract line 7 from line 4............................................................................................................................
8.
9.
RI tax from RI-1041, page 1, line 8A......................................................................................................
9.
10.
Foreign tax credit from Federal Form 1041, Schedule G, line 2a.............
10.
25%
11.
RI Rate......................................................................................................
11.
12.
Multiply line 10 by line 11.......................................................................................................................
12.
13.
RI income tax less foreign tax credit - subtract line 12 from line 9.....................................................................................................
13.
14.
RI Alternative minimum tax - subtract line 13 from line 8
(If zero or less, enter
zero). Enter here and on RI-1041, page 1, line 9.
14.
PART 2
ALTERNATIVE MINIMUM TAX USING MAXIMUM CAPITAL GAINS RATES
15.
15.
Enter the amount from line 3 above....................................................................................................................................................
16.
Enter the amount from RI-1041, Schedule D, line 9
(As refigured for AMT, if
necessary).....................
16.
17.
Enter the amount from RI-1041, Schedule D, line 7
(As refigured for AMT, if
necessary).....................
17.
18.
A.
Add lines 16 and 17.......................................................................................................................
18A.
B.
Enter the amount from RI-1041, Schedule D, line 4
(As refigured for AMT, if
necessary)............ 18B.
C.
Enter the SMALLER of line 18A or line 18B.................................................................................. 18C.
19.
Enter the SMALLER of line 15 or line 18C......................................................................................................................................... 19.
20.
Subtract line 19 from line 15................................................................................................................................................................ 20.
21.
If line 20 is less than $175,000 then multiply line 20 by 6.5% (.065). Otherwise, multiply line 20 by 7% (.07) and subtract $875
21.
from the result.....................................................................................................................................................................................
22.
Enter the amount from RI-1041, Schedule D, line 16............................................................................
22.
23.
Enter the SMALLER of line 15 or line 16...............................................................................................
23.
24.
Enter the SMALLER of line 22 or line 23
(If zero, go to line
26)...........................................................
24.
25.
Multiply line 24 by 2.50% (.025)..........................................................................................................................................................
25.
26.
Subtract line 24 from line 23...................................................................................................................
26.
27.
27.
Multiply line 26 by 5.00% (.05)............................................................................................................................................................
IF LINE 17 IS ZERO OR BLANK, SKIP LINES 28 AND 29 AND GO TO LINE 30. OTHERWISE, GO TO LINE 28.
28.
28.
Subtract line 23 from line 19...................................................................................................................
29.
Multiply line 28 by 6.25% (.0625)........................................................................................................................................................
29.
30.
30.
Add lines 21, 25, 27 and 29................................................................................................................................................................
31.
If line 15 is less than $175,000 then multiply line 15 by 6.5% (.065). Otherwise, multiply line 15 by 7% (.07) and subtract $875
31.
from the result.....................................................................................................................................................................................
32.
Enter the SMALLER of lines 30 or 31 here and on line 4 above.......................................................................................................
32.
Page 4
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