Schedule M1mtc - Alternative Minimum Tax Credit - 2017

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*171301*
2017 Schedule M1MTC, Alternative Minimum Tax Credit
Your First Name and Initial
Last Name
Social Security Number
Read the instructions on the back before you complete this schedule.
Round amounts to the
nearest whole dollar.
Part 1
1 Federal adjusted gross income (from line 37 of your 2016 federal Form 1040) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
2 2016 federally exempt interest and dividends (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
3 Domestic production activities deduction and depletion (add the domestic production activities
deduction included on line 8 of 2016 Schedule M1M and line 7 of 2016 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . 3
4 Expenses deducted on your federal return attributable to income not taxed by Minnesota
(from line 9 of 2016 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 2016 Schedule M1MT) . . . . . . . . . . . . . . . 7
8 Charitable contributions (from line 11 of 2016 Schedule M1MT) . . . . . . . . . . . . . . . . . . 8
9 Casualty and theft losses (from line 12 of 2016 Schedule M1MT) . . . . . . . . . . . . . . . . . . 9
10 Impairment-related work expenses of a disabled person
(from line 13 of 2016 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
11 State income tax refund (from line 14 of 2016 Schedule M1MT) . . . . . . . . . . . . . . . . . . 11
12 Net interest or mutual fund dividends from U.S. bonds
(from line 16 of 2016 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
13 Other subtractions (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
14 Exemption (from line 25 of 2016 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
15 Add lines 6 through 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
16 Subtract line 15 from line 5 (if result is zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
17 Multiply line 16 by 6.75% (.0675) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
18 Your 2016 alternative minimum tax (from line 27 of 2016 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
19 Your 2016 regular income tax (from line 28 of 2016 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
20 Subtract line 19 from line 18 (if result is zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
21 Subtract line 17 from line 18 (if result is zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
22 Compare line 21 and line 20 . Residents: Enter the smaller of the two amounts .
Nonresidents and part-year residents: Multiply the smaller amount
by line 25 of 2016 Schedule M1NR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
23 Amount from line 30 of 2016 Schedule M1MTC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
24 Alternative minimum tax credit available for 2017. Add lines 22 and 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Part 2
25 Regular tax for 2017 (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
26 Alternative minimum tax for 2017 (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
27 Subtract line 26 from line 25 (if result is zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
28 Amount from line 24 or line 27, whichever is less. (Read instructions for 2017 Schedule M1MT.)
Also enter this amount on line 5 of Schedule M1C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
Part 3 (see instructions)
29 Subtract line 28 from line 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
You must include this schedule, Schedule M1MT and Schedule M1C when you file your 2017 Form M1.
9995

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