Schedule M1mtc - Alternative Minimum Tax Credit - 2012

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Schedule M1MTC, Alternative Minimum Tax Credit 2012

Sequence #18

Your First Name and Initial

Last Name

Social Security Number

Round amounts to the

Read the instructions on the back before you complete this schedule.

nearest whole dollar.

Part 1

1 Federal adjusted gross income (from line 37 of your 2011 federal Form 1040) . . . . . . . . . . . . . . . . . . . 1

2 2011 federally exempt interest and dividends (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

3 Domestic production activities deduction and depletion (add the domestic production

activities deduction included on line 9 of 2011 Schedule M1M and line 7 of 2011 Schedule M1MT) . 3

4 Expenses deducted on your federal return attributable to income not taxed by Minnesota

(from line 10 of 2011 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 2011 Schedule M1MT) . . . . . . 7

8 Charitable contributions (from line 11 of 2011 Schedule M1MT) . . . . . . . . . . 8

9 Casualty and theft losses (from line 12 of 2011 Schedule M1MT) . . . . . . . . . 9

10 Impairment-related work expenses of a disabled person

(from line 13 of your 2011 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . 10

11 State income tax refund (from line 14 of your 2011 Schedule M1MT) . . . . . 11

12 Net interest or mutual fund dividends from U .S . bonds

(from line 16 of your 2011 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . 12

13 JOBZ zone business and investment income exemptions

(from line 17 of your 2011 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . . 13

14 Other subtractions (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

15 Exemption (from line 25 of your 2011 Schedule M1MT) . . . . . . . . . . . . . . . . 15

16 Add lines 6 through 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

17 Subtract line 16 from line 5 (if result is zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

18 Multiply line 17 by 6 .4% ( .064) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

19 Your 2011 alternative minimum tax (from line 27 of your 2011 Schedule M1MT) . . . . . . . . . . . . . . . . 19

20 Your 2011 regular income tax (from line 28 of your 2011 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . 20

21 Subtract line 20 from line 19 (if result is zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

22 Subtract line 18 from line 19 (if result is zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

23 Compare line 22 and line 21 . Residents: Enter the smaller of the two amounts .

Nonresidents and part-year residents: Multiply the smaller amount

by line 25 of your 2011 Schedule M1NR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

24 Amount from line 30 of your 2011 Schedule M1MTC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24

25 Credit available against your 2012 regular tax . Add lines 23 and 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

Part 2

26 Regular tax for 2012 (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

27 Alternative minimum tax for 2012 (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

28 Subtract line 27 from line 26 (if result is zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28

29 Amount from line 25 or line 28, whichever is less . (Read instructions for 2012 Schedule M1MT.)

Also enter this amount on line 5 of Schedule M1C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29

Part 3 (see instructions)

30 Subtract line 29 from line 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

You must include this schedule, Schedule M1MT and Schedule M1C when you file your 2012 Form M1.