Form 40 - Individual Income Tax Return - 2016 Page 8
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21Schedule AATC (2016)
160009AA
Page 2
PART II
ALABAMA DEPARTMENT OF REVENUE
Credit for Contributing to Scholarship Granting Organization
1 Name of Scholarship Granting Organization:
•
2 Address of Scholarship Granting Organization:
•
3
3 Amount contributed for scholarship(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 Enter amount from Schedule NTC, line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
•
5
5 Multiply line 4 by 50% (.50). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
•
$50,000 00
6
6 Maximum credit allowable for current year contribution. . . . . . . . . . . . . . . . .
•
7 Credit allowable. Enter the lesser of line 3 or line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
PART III
ALABAMA DEPARTMENT OF REVENUE
Scholarship Contribution Credit Application
•
•
Do you have a Scholarship Contribution Credit carryforward from a prior year?
Yes
No
If “Yes”, complete the section below as needed.
If “No”, skip lines 1 through 15 and complete lines 16 through 20.
•
1
1 Enter carryforward amount from prior tax year (___________) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2 Enter amount from Part II, line 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
•
3
3 Amount of credit applied. Enter lesser of line 1 or line 2 . . . . . . . . . . . . . . . .
•
4
4 Unused tax liability limitation. Subtract line 3 from line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
•
5 Carryforward amount. Subtract line 3 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
•
6
6 Enter carryforward amount from prior tax year (___________) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7 Enter amount from line 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
•
8 Amount of credit applied. Enter the lesser of line 6 or line 7 . . . . . . . . . . . . .
8
•
9
9 Unused tax liability limitation. Subtract line 8 from line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
•
10
10 Carryforward amount. Subtract line 8 from line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
•
11
11 Enter carryforward amount from prior tax year (___________) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12
12 Enter amount from line 9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
•
13 Amount of credit applied. Enter the lesser of line 11 or line 12. . . . . . . . . . .
13
•
14 Unused tax liability limitation. Subtract line 13 from line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14
•
15
15 Carryforward amount. Subtract line 13 from line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16 Enter amount from Part II, line 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16
•
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17 Enter amount from line 14. If no carryforward credits enter amount from Part II, line 5. . . . . . . . . . . . . . . . . . . . . .
•
18
18 Amount of credit applied. Enter lesser of line 16 or line 17 . . . . . . . . . . . . . .
•
19 Carryforward amount. Subtract line 18 from line 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19
20 Total credit(s) applied. Add line 3, line 8, line 13, and line 18.
•
Go To Schedule NTC
20
Enter here and on Schedule NTC, line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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