Schedule M1mtc - Attachment #17 To Form M1 - Minnesota Alternative Minimum Tax Credit - 2001

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Schedule M1MTC
Attachment #17
2001 Minnesota Alternative Minimum Tax Credit
Your last name
Social Security number
Read the instructions on the back of this schedule to determine how to fill it out.
Part 1
.
1 Federal adjusted gross income (from line 33 of your 2000 federal Form 1040) . . . . . . . . . . . . . . . 1
.
2 2000 federally exempt interest and dividends (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . 2
.
3 Depletion (from line 6 of your 2000 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
4 Expenses deducted on your federal return that are attributable to income
.
not taxed by Minnesota (from line 3 of your 2000 Schedule M1M) . . . . . . . . . . . . . . . . . . . . . . . . . 4
.
5 Add lines 1 through 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
.
6 State income tax refund (from line 26 of your 2000 Form M1) . . . . . . . . 6
7 Interest or mutual fund dividends from U.S. bonds
.
(from line 27 of your 2000 Form M1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
8 Railroad Retirement Board pension or annuity and reservation income
.
(add line 30 and line 31 of your 2000 Form M1) . . . . . . . . . . . . . . . . . . . . 8
.
9 Medical and dental deduction (from line 9 of 2000 Schedule M1MT) . . . . 9
.
10 Investment interest expense (from line 10 of 2000 Schedule M1MT) . . 10
11 Minnesota charitable contributions
.
(from line 11 of 2000 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . . 11
.
12 Casualty and theft losses (from line 12 of 2000 Schedule M1MT) . . . . 12
13 Impairment-related work expenses of a disabled person
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(from line 13 of your 2000 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . 13
14 Subtractions taken for early 1980s Minnesota additions
.
(from line 15 of your 2000 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . 14
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15 Exemption (from line 27 of your 2000 Schedule M1MT) . . . . . . . . . . . . . 15
.
16 Add lines 6 through 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
.
17 Subtract line 16 from line 5. If the result is zero or less, fill in zero . . . . . . . . . . . . . . . . . . . 17
.
18 Multiply line 17 by 6.4% (.064) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
.
19 Your 2000 alternative minimum tax (from line 29 of your 2000 Schedule M1MT) . . . . . . . . . . . . 19
.
20 Your 2000 regular income tax (from line 30 of your 2000 Schedule M1MT) . . . . . . . . . . . . . . . . . 20
.
21 Subtract line 20 from line 19. If the amount is zero or less, fill in zero . . . . . . . . . . . . . . . . 21
.
22 Subtract line 18 from line 19. If the amount is zero or less, fill in zero . . . . . . . . . . . . . . . . 22
23 Compare line 22 and line 21. Residents: Fill in the smaller of the two amounts.
Nonresidents and part-year residents: Multiply the smaller amount by the
.
percent on line 24 of your 2000 Schedule M1NR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
.
24 Amount from line 29 of your 2000 Schedule M1MTC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
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25 Add lines 23 and 24. This is the credit available against your 2001 regular tax . . . . . . . . . . 25
Part 2
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26 Regular tax for 2001 (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
.
27 Alternative minimum tax for 2001 (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
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28 Subtract line 27 from line 26. If the amount is zero or less, fill in zero . . . . . . . . . . . . . . . . 28
29 Fill in the amount from line 25 or line 28, whichever is less. (Read instructions for
.
2001 Schedule M1MT.) Also fill in this amount on line 26 of your 2001 Form M1 . . . . . . . . . 29
Part 3 (see instructions)
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30 Subtract line 29 from line 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30
You must attach this schedule and Schedule M1MT to your 2001 Form M1.
Stock No. 1001075

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