Ia Form 1041 Schedule I - Iowa Alternative Minimum Tax - Estates And Trusts - 2016 Page 2

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PART III - Iowa Exemption Amount and Iowa Alternative Minimum Tax
25. Subtract $75,000 from line 24. If zero or less, enter zero .............................................. 25.
26. Multiply line 25 by 25% (0.25) ........................................................................................ 26.
27. Subtract line 26 from $17,500. If zero or less, enter zero .............................................. 27.
28. Subtract line 27 from line 24. If zero or less, enter zero ................................................. 28.
29. Tentative Iowa Alternative Minimum
Tax.
Multiply line 28 by 6.7% (0.067) ................... 29.
30. Regular tax less exemption credit. Enter IA 1041, line 23, less $40. If zero or
less, enter zero .............................................................................................................. 30.
31. Iowa Alternative Minimum Tax. Subtract line 30 from line 29; enter here and on
IA 1041, line 25. If zero or less, enter zero. See instructions for Iowa Alternative
Minimum Tax Limited to Net Worth ................................................................................ 31.
PART IV - Nonresidents Only – Complete lines 32-35
32. Enter Iowa net income plus Iowa adjustments and preferences. If zero or
less enter zero. See instructions. ................................................................................... 32.
33. Total net income plus total adjustments and preferences. If less than or
equal to one, enter one. See instructions ....................................................................... 33.
34. Divide line 32 by line 33 and enter the result to three decimal places. If
greater than one, enter one. See instructions ................................................................ 34.
35. Iowa Alternative Minimum Tax. Multiply line 31 by line 34. Enter here
and on IA 1041, line 25. See instructions .......................................................................... 35.
63-008b (2/2/17)

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