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

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Part II Income Distribution Deduction on an Alternative Minimum Tax (AMT) Basis

Adjusted alternative minimum taxable income from Part I, line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2 Adjusted tax-exempt interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

3 Net capital gains from Schedule D (541), line 9, column (a). If zero or less, enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

4 Capital gains allocable to corpus paid or set aside for charitable purposes from Schedule A (541), line 4 . . . . . . . . . . . . . . . . 4

5 Capital gains paid or permanently set aside for charitable purposes from current year’s income.

See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

(

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6 Capital gains computed on an alternative minimum tax basis included in Part I, line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

7 Capital losses computed on an alternative minimum tax basis included in Part I, line 8. Enter as a positive amount . . . . . . . . 7

8 Distributable net alternative minimum taxable income (DNAMTI). Combine line 1 through line 7 . . . . . . . . . . . . . . . . . . . . . . . 8

9 Income required to be distributed currently from Schedule B (541), line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

0 Other amounts paid, credited, or required to be distributed from Schedule B (541), line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . 0

Total distributions. Add line 9 and line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2 Tax-exempt income included on line 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

3 Tentative income distribution deduction. Subtract line 12 from line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

4 Tentative income distribution deduction. Subtract line 2 from line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

5 Income distribution deduction on an AMT basis. Enter the smaller of line 13 or line 14 here and on Part I, line 9 . . . . . . . . . . 5

Part III Tentative Minimum Tax (TMT) and Alternative Minimum Tax (AMT) Computation

Enter the amount from Part I, line 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2 Exemption amount. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2

$ 40,836 00

3 Phase-out of exemption amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3

153,137 00

4 Subtract line 3 from line 1. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

5 Multiply line 4 by 25% (.25). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

6 Subtract line 5 from line 2. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

7 Subtract line 6 from line 1. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

8 Tentative minimum tax. Multiply line 7 by 7.0% (.07) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

9 Regular tax before credits from Form 541, line 21a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

0 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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0

Side 2 Schedule P (541) 2011

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