California Schedule P (541) - Attach To Form 541 - Alternative Minimum Tax And Credit Limitations - Fiduciaries - 2015

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Alternative Minimum Tax and
TAXABLE YEAR
CALIFORNIA SCHEDULE
2015
P (541)
Credit Limitations — Fiduciaries
Attach this schedule to Form 541.
Names as shown on Form 541
FEIN
-
Part I Fiduciary’s Share of Alternative Minimum Taxable Income (AMTI)
00
1 Adjusted total income (or loss). Enter the amount from Form 541, line 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
00
2 Net operating loss (NOL) deduction, if any from Form 541, line 15a. Enter as a positive amount . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
00
3 Add line 1 and line 2, enter total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Adjustments and tax preference items:
00
4 a Interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
a
00
b Personal property taxes and real property taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b
00
c Miscellaneous itemized deductions from Form 541, line 15b. . . . . . . . . . . . . . . . . . . . . . . . . . . .
c
(
)
00
d Refund of personal property taxes and real property taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
d
00
e Depreciation of property placed in service after 1986 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
e
f
Circulation and research and experimental expenditures paid or incurred after 1986 . . . . . . . . .
f
00
00
g Mining exploration and development costs paid or incurred after 1986. . . . . . . . . . . . . . . . . . . .
g
00
h Long-term contracts entered into after February 28, 1986. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
h
00
i
Amortization of pollution control facilities placed in service after 1986 . . . . . . . . . . . . . . . . . . . .
i
00
j
Installment sales of certain property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
j
00
k Adjusted gain or loss (including incentive stock options) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
k
00
l
Certain loss limitations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
l
00
m Tax shelter farm activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . m
n Passive activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
n
00
00
o Beneficiaries of other trusts or decedent’s estates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
o
00
p Depletion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
p
00
q Intangible drilling costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
q
00
r
California qualified stock options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
r
00
s Other adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
s
00
5 Combine line 4a through line 4s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
6 Add line 3 and line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
00
Alternative minimum taxable income deduction and exclusion:
00
7 a Alternative minimum tax NOL deduction. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7a
00
b AMTI exclusion. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7b
c Add line 7a and 7b, enter total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7c
00
8 Adjusted alternative minimum taxable income. Subtract line 7c from line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
00
00
9 Income distribution deduction from Part II, line 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
00
10 Fiduciary’s share of alternative minimum taxable income. Subtract line 9 from line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
If line 10 is $43,812 or less and you are not claiming any credits, do not complete Part III and Part IV of this schedule.
Schedule P (541) 2015 Side 1
7991153

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