Instructions For Schedule I (Form 1041) - Alternative Minimum Tax-Estates And Trusts - 2017 Page 9

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from line 29 of Schedule I on line 18 of
the estate's or trust's regular tax income
Lines 2 through 13 of an AMT
the AMT Form 1116.
for Form 1116, Part I, instead of
Schedule D Tax Worksheet in the
refiguring the estate's or trust's foreign
Instructions for Schedule D (Form
Instructions for completing an
source income for the AMT, as
1041), or
AMT Worksheet for Line 18. To
described in Step 2 in the instructions
Lines 2 through 4 of a Qualified
complete an AMT Worksheet for
for line 53, earlier. The estate or trust
Dividends Tax Worksheet in the
Line 18 in the Instructions for Form
must make the election for the first tax
Instructions for Form 1041.
1116, follow these instructions.
year after 1997 for which it claims an
If you were required to complete an
1. Enter the amount from Schedule I
AMT foreign tax credit. If it doesn't make
AMT Form 4952, use it to figure the
(Form 1041), line 29 on line 1 of the
the election for that year, it may not
amount to enter on line 25 of the AMT
worksheet.
make it for a later year. Once made, the
Schedule D (Form 1041), lines 3 and 4
election applies to all later tax years and
of the AMT Schedule D Tax Worksheet
2. Skip lines 2 and 3 of the
may be revoked only with IRS consent.
in the Instructions for Schedule D (Form
worksheet.
1041), and line 3 of the Qualified
3. Enter the amount from Schedule I
Part IV—Line 52
Dividends Tax Worksheet. Use amounts
(Form 1041), line 81 on line 4 of the
Computation Using
from the AMT Schedule D (Form 1041),
worksheet.
AMT Schedule D Tax Worksheet in the
Maximum Capital Gains
4. Multiply line 4 of the worksheet by
Instructions for Schedule D (Form 1041)
Rates
0.1071 (instead of 0.3687) and enter the
or Qualified Dividends Tax Worksheet in
results on line 5 of the worksheet.
the Instructions for Form 1041 to
Lines 58, 59, and 60
5. Enter the amount from Schedule I
complete Schedule I (Form 1041), lines
If you used Schedule D (Form 1041),
(Form 1041), line 78 on line 6 of the
58, 59, and 60. Keep the AMT Form
the Schedule D Tax Worksheet in the
worksheet.
8949, AMT Schedule D (Form 1041)
Instructions for Schedule D (Form
and applicable AMT worksheet for your
6. Multiply line 6 of the worksheet by
1041), or the Qualified Dividends Tax
records, but don’t attach any of them to
0.2857 (instead of 0.4949) and enter the
Worksheet in the Instructions for Form
Form 1041.
result on line 7 of the worksheet.
1041, you generally may enter the
Don’t decrease the estate's or
7. Enter the amount from Schedule I
amounts as instructed on Schedule I,
trust's section 1202 exclusion
(Form 1041), line 75 on line 8 of the
!
lines 58, 59, and 60. But don’t use those
by the amount, if any, included
worksheet.
amounts if any of the following apply.
CAUTION
on line 9 of Schedule I (Form 1041) .
8. Multiply line 8 of the worksheet by
1. The gain or loss from any
0.4643 (instead of 0.6212). Enter the
transaction reported on Form 8949 or
If the estate or trust is a beneficiary
result on line 9 of the worksheet.
Schedule D (Form 1041) is different for
of another estate or trust. If the
9. Enter the amount from
the AMT (for example, because the
estate or trust received a Schedule K-1
Schedule I, line 68, on line 10 of the
AMT basis was different due to
(Form 1041) from another estate or trust
worksheet.
depreciation adjustments or an
that shows an amount in box 12 with
incentive stock option adjustment or the
10. Complete lines 11 and 12 of the
code B, C, D, E, or F, follow the
AMT capital loss carryover from 2016
worksheet as instructed on the
instructions in the table below.
was different).
worksheet.
2. You didn't complete Part V of
IF the code in box 12 is... THEN include that
Step 7. Enter the amount from
Schedule D (Form 1041), the
amount in the total on...
Schedule I (Form 1041), line 52 on the
Schedule D Tax Worksheet in the
B
line 2 of an AMT Qualified
AMT Form 1116, line 20. Complete lines
Instructions for Schedule D (Form
Dividends Tax Worksheet
19, 21, and 22 of the AMT Form 1116.
in the Instructions for Form
1041), or the Qualified Dividends Tax
1041; line 23 of an AMT
Worksheet in the Instructions for Form
Step 8. Complete Part IV of the first
Schedule D (Form 1041);
1041 because Form 1041, line 22, was
AMT Form 1116 only.
or line 2 of an AMT
zero or less.
Schedule D Tax
Enter on line 53 of Schedule I the
Worksheet in the
3. The estate or trust received a
amount from line 30 of the first AMT
Instructions for
Schedule K-1 (Form 1041) that shows
Form 1116.
Schedule D (Form 1041),
an amount in box 12 with code B, C, D,
whichever applies.
Attach to the estate's or trust's return
E, or F. If this applies, see If the estate
C
line 5, column (h), of an
all AMT Forms 1116 you used to figure
or trust is a beneficiary of another estate
AMT Schedule D (Form
your AMT foreign tax credit.
1041).
or trust, later.
AMT foreign tax credit carryback
D
line 12, column (h), of an
If 1 above applies, complete an AMT
AMT Schedule D (Form
and carryforward. If the AMT foreign
Form 8949. Next, if 1 or 3 applies,
1041).
tax credit is limited, any unused amount
complete Parts I through IV of an AMT
E
line 11 of an AMT
can be carried back or forward under
Schedule D (Form 1041) by refiguring
Unrecaptured Section
section 904(c). The election to forego
1250 Gain Worksheet in
the amounts of your gains and losses
the carryback period for regular tax
the Instructions for
for the AMT. Then, if 1, 2, or 3 applies,
purposes also applies for the AMT.
Schedule D (Form 1041).
complete the following lines of the
F
line 4 of an AMT 28% Rate
Simplified limitation election. The
applicable schedule or worksheet:
Gain Worksheet in the
estate or trust may elect to use a
Lines 22 through 26 of an AMT
Instructions for
simplified section 904 limitation to figure
Schedule D (Form 1041),
Schedule D (Form 1041).
its AMT foreign tax credit. To do so, use
2017 Instructions for Schedule I (Form 1041)
-9-

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