Schedule M1mtc - Minnesota Alternative Minimum Tax Credit - 2014
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1
2Schedule M1MTC, Alternative Minimum Tax Credit 2014
Sequence #18
Your First Name and Initial
Last Name
Social Security Number
Round amounts to the
Read the instructions on the back before you complete this schedule.
nearest whole dollar.
Part 1
1 Federal adjusted gross income (from line 37 of your 2013 federal Form 1040) . . . . . . . . . . . . . . . . . . . 1
2 2013 federally exempt interest and dividends (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
3 Domestic production activities deduction and depletion (add the domestic production
activities deduction included on line 9 of 2013 Schedule M1M and line 7 of 2013 Schedule M1MT) . 3
4 Expenses deducted on your federal return attributable to income not taxed by Minnesota
(from line 10 of 2013 Schedule M1M) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
5 Add lines 1 through 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
6 Medical and dental deduction (determine from instructions) . . . . . . . . . . . . 6
7 Investment interest expense (from line 10 of 2013 Schedule M1MT) . . . . . 7
8 Charitable contributions (from line 11 of 2013 Schedule M1MT) . . . . . . . . . 8
9 Casualty and theft losses (from line 12 of 2013 Schedule M1MT) . . . . . . . . 9
10 Impairment-related work expenses of a disabled person
(from line 13 of your 2013 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . 10
11 State income tax refund (from line 14 of your 2013 Schedule M1MT) . . . . 11
12 Net interest or mutual fund dividends from U.S. bonds
(from line 16 of your 2013 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . 12
13 JOBZ zone business and investment income exemptions
(from line 17 of your 2013 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . 13
14 Other subtractions (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
15 Exemption (from line 25 of your 2013 Schedule M1MT) . . . . . . . . . . . . . . . 15
16 Add lines 6 through 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
17 Subtract line 16 from line 5 (if result is zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
18 Multiply line 17 by 6.75% (.0675) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
19 Your 2013 alternative minimum tax (from line 27 of your 2013 Schedule M1MT) . . . . . . . . . . . . . . . 19
20 Your 2013 regular income tax (from line 28 of your 2013 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . 20
21 Subtract line 20 from line 19 (if result is zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
22 Subtract line 18 from line 19 (if result is zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
23 Compare line 22 and line 21. Residents: Enter the smaller of the two amounts.
Nonresidents and part-year residents: Multiply the smaller amount
by line 25 of your 2013 Schedule M1NR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
24 Amount from line 30 of your 2013 Schedule M1MTC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
25 Credit available against your 2014 regular tax. Add lines 23 and 24 . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Part 2
26 Regular tax for 2014 (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
27 Alternative minimum tax for 2014 (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
28 Subtract line 27 from line 26 (if result is zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
29 Amount from line 25 or line 28, whichever is less. (Read instructions for 2014 Schedule M1MT.)
Also enter this amount on line 5 of Schedule M1C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
Part 3 (see instructions)
30 Subtract line 29 from line 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30
You must include this schedule, Schedule M1MT and Schedule M1C when you fi le your 2014 Form M1.
9995
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