California Form 3510 - Credit For Prior Year Alternative Minimum Tax - Individuals Or Fiduciaries - 2016 Page 3
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3Married/RDP taxpayers filing separate
Line 31 – Enter the amount of any unused
California tax returns: Complete the following
AMT credit carryover from one of the following
computation if line 4 is more than $339,547:
2015 forms:
1. Enter the amount from line 4 . . . . _______
• Schedule P (540), Part III, line 10,
column (d).
2. Maximum exemption amount . . $339,547
• Schedule P (540NR), Part III, line 10,
3. Subtract line 2 from line 1 . . . . . _______
column (d).
4. Multiply line 3 by 25% (.25) . . . . _______
• Schedule P (541), Part IV, line 9,
column (d).
5. Enter the smaller of line 4 or
$43,812 . . . . . . . . . . . . . . . . . . . . _______
Line 32 – If line 32 is zero or less, you do
not have an AMT credit or an AMT credit to
6. Add line 1 and line 5. Enter the
carry over. Do not complete the rest of this
result here and replace the amount
form. If line 32 is more than zero, enter the
on form FTB 3510, line 4 with this
amount here and in column (a) of one of the
amount . . . . . . . . . . . . . . . . . . . . _______
following 2016 forms:
Line 9 – Enter the smaller of (1) the amount
• Schedule P (540), Part III, line 10.
by which line 5 exceeds line 8 or (2) the
• Schedule P (540NR), Part III, line 10.
child’s 2015 earned income plus $7,400, if the
• Schedule P (541), Part IV, line 9.
child did not file a joint return for 2015, at least
one parent was alive at the end of 2015, and
Line 34 – Exemption and other allowable
one of the following statements is true.
credits that ca nnot reduce regular tax below
the tentative minimum tax.
1. The child was under age 18 at the end
of 2015.
Residents enter on line 34 the total of the
following:
2. The child was age 18 at the end of 2015
and did not have earned income that was
• The exemption credits from Form 540,
more than half of their support.
line 32 (or Form 541, line 22).
• The amount of other allowable credits
3. The child was a full-time student over age
that are listed on your 2016 Schedule P
18 and under age 24 at the end of 2015 and
(540 or 541), Section A1 and Section A2,
did not have earned income that was more
column (b).
than half of their support.
Nonresidents or Part-Year Residents enter on
Certain January 1 Birthdays. If the child
line 34 the total of the following:
was born on January 1, 1998, the child is
considered to be 18 at the end of 2015. If the
• The exemption and other allowable credits
child was born on January 1, 1997, the child is
from Long Form 540NR, line 39.
considered to be 19 at the end of 2015. If the
• The amount of other allowable credits
child was born on January 1, 1992, the child is
that are listed on your 2016 Schedule P
considered to be 24 at the end of 2015.
(540NR), Section A1 and Section A2,
column (b).
Line 10 – If line 10 is -0- and you paid 2015
AMT, all of the 2015 AMT is attributable to the
See Schedule P (540, 540NR, or 541) for
deferral preferences. Enter -0- on line 13, then
more information.
complete Part I, Section B, if applicable, and
Line 36 – Enter the tentative minimum tax
Part II to figure the available credit for 2016.
from one of the following 2016 forms:
Line 18 – Enter the adjustments and tax
• Schedule P (540), Part II, line 24.
preference items treated as exclusions.
• Schedule P (540NR), Part II, line 43.
Combine your 2015 Schedule P (540NR),
• Schedule P (541), Part III, line 8.
Part II, lines 29a and 29h. Do not include
any amount from line 29f. Instead, include
the exclusion items from your 2015
Schedule K-1 (541), line 12e, column (e).
Line 28 – Reduce the amount on line 28 by
the same amount shown on one of the forms
below if you reduced your 2015 AMT by any
solar energy credit carryover or commercial
solar energy credit carryover:
• Schedule P (540), Part III, line 22 and
line 23, column (b).
• Schedule P (540NR), Part III, line 22 and
line 23, column (b).
• Schedule P (541), Part IV, line 17 and
line 18, column (b).
Enter the amount of the reduction in the space
to the left of line 28.
Page 2 FTB 3510 Instructions
2016
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