California Schedule P (540nr) - Alternative Minimum Tax And Credit Limitations - Nonresidents Or Part-Year Residents - 2004 Page 2

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Part II Alternative Minimum Tax (AMT)

22 Exemption Amount. (If this schedule is for a child under age 14, see instructions.)

If your filing status is:

And line 21 is not over:

Enter on line 22:

}

Single or head of household

$192,963

$51,457

Married filing jointly or qualifying widow(er)

257,284

68,610

22 ____________________

Married filing separately

128,641

34,303

If Part I, line 21 is more than the amount shown above for your filing status, see instructions.

23 Subtract line 22 from Part I, line 21. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

23 ____________________

24 Total Tentative Minimum Tax (TMT). Multiply line 23 by 7.0% (.07) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

24 ____________________

25 California adjusted gross income (AGI) from Schedule CA (540NR), line 44 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

25 ____________________

26 NOL adjustment, if any, included on Schedule CA (540NR), line 21, column E. Enter as a positive number . . . . . . . . . . . . .

26 ____________________

(

)

27 Alternative Minimum Tax Income (AMTI) exclusion. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

27 ____________________

28 Combine line 25 through line 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

28 ____________________

29 Adjustments and Preferences. See instructions before completing.

a Investment interest expense . . .

k Intangible drilling costs . . . . . .

b Post-1986 depreciation . . . . . .

l Long-term contracts . . . . . . . . .

c Adjusted gain or loss . . . . . . . .

m Loss limitations . . . . . . . . . . . . .

d Incentive stock options and CQSOs

n Mining costs . . . . . . . . . . . . . . .

e Passive activities . . . . . . . . . . . .

o Patron’s adjustment . . . . . . . . .

Beneficiaries of estates & trusts

p Pollution control facilities . . . . .

g Circulation expenditures . . . . . .

q Qualified small business stock .

h Depletion . . . . . . . . . . . . . . . . . .

r Research and experimental . . .

Depreciation (pre-1987) . . . . . .

s Tax shelter farm activities . . . . .

Installment sales . . . . . . . . . . . .

t Related adjustments . . . . . . . . .

Add line a through line t . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

29 _____________________

30 Combine line 28 and line 29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

30 _____________________

31 California Alternative Minimum Tax (AMT) net operating loss (NOL) deduction. See instructions . . . . . . . . . . . . . . . . . . . . .

31 _____________________

32 California AMT AGI. Subtract line 31 from line 30. If you did not itemize deductions, enter the result here and on line 40

and skip line 33 through line 39. If you itemized deductions, enter the result here and

continue to line 33 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

32 _____________________

33 Itemized deductions (before federal AGI limitation and proration) . Enter the amount from Schedule CA (540NR), line 41 . .

33 _____________________

34 Itemized deductions included in Part I.

a Medical and dental expense, enter amount from Part I, line 2. . . . . . . . . . . . . . . . . . . . .

a _____________________

b Personal property taxes and real property taxes, enter amount from Part I, line 3. . . . .

b _____________________

c Interest on home mortgage, enter amount from Part I, line 4. . . . . . . . . . . . . . . . . . . . .

c _____________________

d Miscellaneous itemized deductions, enter amount from Part I, line 5. . . . . . . . . . . . . . .

d _____________________

e Investment interest expense adjustment, enter amount from Part I, line 7. . . . . . . . . . .

e _____________________

(

)

Combine line a through line e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

34 ____________________

35 Total AMT Itemized Deductions. Combine line 33 and line 34 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

35 ____________________

36 Total AMTI. Enter the amount from Part I, line 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

36 ____________________

37 Total AMT AGI. Add line 35 and line 36 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

37 ____________________

38 AMT Itemized Deduction Percentage. Divide line 32 by line 37. Do not enter more than 1.0000 . . . . . . . . . . . . . . . . . . . . . .

___ . ___ ___ ___ ___

39 Prorated AMT Itemized Deductions. Multiply line 35 by line 38 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

39 ____________________

40 California AMTI. Subtract line 39 from line 32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

40 ____________________

41 Total TMT. Enter the amount from line 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

41 ____________________

42 California AMT Rate. Divide line 41 by amount from Part I, line 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

___ . ___ ___ ___ ___

43 California TMT. Multiply line 40 by line 42 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

43 ____________________

44 Regular Tax. Enter the amount from Long Form 540NR, line 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44 ____________________

45 Alternative Minimum Tax. Subtract line 44 from line 43. If zero or less enter -0- here and on Long Form 540NR, line 44.

Continue to Part III to figure your allowable credits. (If you have a carryover credit for solar energy or commercial solar

energy, also enter the result on Side 3, Part III, Section C, line 23). If you make estimated tax payments for tax year 2005,

enter amount from line 45 on the 2005 Form 540-ES, Estimated Tax Worksheet, line 16. . . . . . . . . . . . . . . . . . . . . . . . . . . .

45 ____________________

Side 2

PNR04203

Schedule P (540NR) 2004

(REV 01-05)