Instructions For Schedule P (Form 540nr) - Alternative Minimum Tax And Credit Limitations - Nonresidents Or Part-Year Residents - 2013 Page 5
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8In the case of a contract described in IRC Section 460(e)(1), use
Line 13k – Tax shelter farm activities
the simplified procedures for allocating costs outlined in IRC
If you include AMT adjustments or preferences on this line, do not
Section 460(b)(3) to determine the percentage of completion.
include them on any other line of this schedule.
Enter on line 13e the difference between the income you reported for
Complete this line only if you have a gain or loss from a tax shelter farm
regular tax and the income you recomputed for AMT. If the income for
activity as defined in IRC Section 58(a)(2), that is not a passive activity.
AMT is less than the income for regular tax, enter the difference as a
If the tax shelter farm activity is a passive activity, include it with your
negative amount.
other passive activities on line 11.
Refigure all gains and losses you reported for regular tax from tax
Line 13f – Loss limitations
shelter farm activities using your AMT adjustments and preferences.
If you include AMT adjustments or preferences on this line, do not
Figure your tax shelter farm activity gain or loss for AMT using the same
include them on any other line of this schedule. Do not include any
rules you used for regular tax except for the following:
passive activities on this line. Instead, use line 11. Also use line 11
• Do not take any refigured loss unless you are insolvent (see IRC
for passive tax shelter farm activities. Use line 13k for nonpassive tax
Section 58(c)(1)).
shelter farm activities.
• Do not offset gains from other tax shelter farm activities with your
For AMT, refigure certain limited losses using your AMT adjustments
refigured loss.
and preferences. Refigure your gains and losses from activities for
Suspend and carry over your loss to future taxable years until one of the
which you are not at risk. Also, refigure your basis limitations that apply
following apply:
to partnerships and S corporations. Refer to IRC Sections 59(h), 465,
• Have a gain in a future taxable year from that same activity.
704(d), and 1366(d).
• Dispose of the activity.
Enter on this line the difference between AMT limited losses (from
Enter on this line the difference between the amount that was reported
activities reported on federal Schedules C, C-EZ, E, F, or federal
for regular tax for the activity on federal Schedule E or federal Form 4835,
Form 4835) and your regular tax limited losses from these activities.
and the amount that would be reported for the activity for AMT.
Line 13g – Mining costs
Line 13l – Related adjustments
If you elected the optional 10-year write-off under IRC Section 59(e)
If you have an entry on one of the following lines:
for regular tax, skip this line. For AMT, you must capitalize your mining
• Line 7 (if you deducted investment interest on federal Schedule E).
exploration and development costs and amortize them over 10 years
• Line 8 through line 11.
beginning with the taxable year you paid or incurred the expenditures. Enter
• Line 13a through line 13k.
the difference between your AMT mining amortization and your regular
tax mining deduction. If your AMT mining amortization is more than your
Refigure the following items. These adjustments and preferences are
regular tax mining deduction, enter your adjustment as a negative amount.
limited based on income (other than a limit based on federal AGI or
federal modified AGI) using your AMT income:
See IRC Section 56(a)(2)(B) for a special rule that applies to losses
• IRC Section 179 expense.
related to mining property.
• Taxable IRA distribution (if prior year IRA deductions were different
Line 13h – Patron’s adjustment
for AMT and regular tax).
Distributions you received from a cooperative may be includible in
• Expenses for business or rental use of your home.
income. Unless the distributions are nontaxable, enter on line 13h the
• Conservation expenses.
total AMT patronage dividend and per-unit retain allocation adjustment
• Self-employed health insurance deduction.
reported to you by the cooperative.
• Keogh retirement plan or self-employed SEP or SIMPLE deduction.
Line 13i – Pollution control facilities
• IRA deduction affected by the earned income limitation of IRC
For regular tax, you may elect to amortize the basis of a certified
Section 219(b)(1)(B).
pollution control facility over 60 months. For facilities placed in service
Figure the difference between AMT and regular tax amount for each item.
before 1999, the AMT deduction is figured using the alternative
Combine the amounts for all your related adjustments and enter the total
depreciation system (ADS) described in IRC Section 168(g). Use the
on line 13l. Keep a copy of all computations for your records, including
federal Class Life Asset Depreciation Range System (ADR) under the
any AMT carryover and basis amounts.
straight-line method. For facilities placed in service after 1998, the
Line 15 – Taxable income
AMT deduction is figured under the modified accelerated cost recovery
Enter on this line the amount from Long Form 540NR, line 19. If Long
system (MACRS) using the straight-line method. Enter the difference
Form 540NR, line 19 is zero, subtract Long Form 540NR, line 18 from
between your AMT pollution control facilities depreciation and your
Long Form 540NR, line 17 and enter the result as a negative amount.
regular tax pollution control facilities amortization. If your AMT pollution
control facilities depreciation is more than your regular tax pollution
Line 17 – Alternative Minimum Tax Income exclusion
control facilities amortization, enter the adjustment as a negative
Qualified taxpayers must exclude income from any trade or business
amount.
when figuring AMTI. If you are a qualified taxpayer, refer to General
Information G, Alternative Minimum Taxable Income (AMTI) Exclusion,
Line 13j – Research and experimental costs
and enter your taxable trade or business income on line 17. If zero or
Do not make this adjustment for costs paid or incurred in connection
less, enter -0-.
with an activity in which you materially participated under the passive
activity rules or for costs for which you elected the optional 10-year
Line 18 – Itemized deductions limitation
write-off for the regular tax.
If you itemized deductions and your federal AGI is more than the amount
shown on line 18, your itemized deductions were limited for regular
If you elected the optional 10-year write-off period for research and
tax. For the AMT, this limitation does not apply. Enter the amount
experimental expenditures under IRC Section 59(e) for regular tax, skip
from line 9 of the Itemized Deductions Worksheet in the instructions
this line.
for Schedule CA (540NR) California Adjustments – Nonresidents or
For regular tax, IRC Section 174(a) allows you to deduct your research
Part-Year Residents, Part III, line 43.
and experimental expenditures in the taxable year you paid or incurred
them. If you deducted them in the year incurred, amortize these
Line 20 – AMT Net operating loss (NOL) deduction
expenditures over 10 years for AMT. Enter the difference between your
NOLs incurred in taxable years beginning on or after January 1, 2013,
AMT deduction and your regular tax deduction. If your AMT deduction
shall be carried back to each of the preceding two taxable years. For
is more than your regular tax deduction, enter your adjustment as a
more information, see What’s New section.
negative amount.
See IRC Section 56(b)(2)(B) for a special rule that applies to losses
related to circulation, research, or experimental expenditures.
Schedule P (540NR) Instructions 2013 Page 5
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