California Schedule P (541) - Alternative Minimum Tax And Credit Limitations - Fiduciaries - 2015 Page 2

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Part II Income Distribution Deduction on an Alternative Minimum Tax (AMT) Basis
1 Adjusted alternative minimum taxable income from Part I, line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
00
2 Adjusted tax-exempt interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
00
3 Net capital gains from Schedule D (541), line 9, column (a). If zero or less, enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
00
4 Capital gains allocable to corpus paid or set aside for charitable purposes from Form 541, Schedule A, line 4 . . . . . . . . . . .
4
00
5 Capital gains paid or permanently set aside for charitable purposes from current year’s income.
See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
00
(
)
6 Capital gains computed on an alternative minimum tax basis included in Part I, line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
00
7 Capital losses computed on an alternative minimum tax basis included in Part I, line 8. Enter as a positive amount . . . . . . .
7
00
8 Distributable net alternative minimum taxable income (DNAMTI). Combine line 1 through line 7 . . . . . . . . . . . . . . . . . . . . . .
8
00
9 Income required to be distributed currently from Form 541, Schedule B, line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
00
10 Other amounts paid, credited, or required to be distributed from Form 541, Schedule B, line 10 . . . . . . . . . . . . . . . . . . . . . . 10
00
11 Total distributions. Add line 9 and line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
00
12 Tax-exempt income included on line 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
00
13 Tentative income distribution deduction. Subtract line 12 from line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
00
14 Tentative income distribution deduction. Subtract line 2 from line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
00
15 Income distribution deduction on an AMT basis. Enter the smaller of line 13 or line 14 here and on Part I, line 9 . . . . . . . . . 15
00
Part III Tentative Minimum Tax (TMT) and Alternative Minimum Tax (AMT) Computation
1 Enter the amount from Part I, line 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
00
2 Exemption amount. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2
$ 43,812 00
3 Phase-out of exemption amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3
164,299 00
4 Subtract line 3 from line 1. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
00
5 Multiply line 4 by 25% (.25). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
00
6 Subtract line 5 from line 2. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
00
43,812
7 Subtract line 6 from line 1. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
00
8 Tentative minimum tax. Multiply line 7 by 7.0% (.07) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
00
9 Regular tax before credits from Form 541, line 21a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
00
10 Alternative minimum tax. Subtract line 9 from line 8. If zero or less, enter -0-. If there are no Part IV,
Section C credits, enter this amount on Form 541, line 26 or Form 109, line 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
00
Side 2 Schedule P (541) 2015
7992153

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