California Schedule P (540nr) - Alternative Minimum Tax And Credit Limitations - Nonresidents Or Part-Year Residents - 2014 Page 2

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Part II Alternative Minimum Tax (AMT)

22 Exemption Amount. (If this schedule is for certain children under age 24, see instructions.)

If your filing status is:

And line 21 is not over:

Enter on line 22:

}

Single or head of household

$243,288

$64,878

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Married/RDP filing jointly or qualifying widow(er)

$324,384

$86,502

. . . . . .

22 ____________________

Married/RDP filing separately

$162,191

$43,250

If Part I, line 21 is more than the amount shown above for your filing status, see instructions.

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23 Subtract line 22 from Part I, line 21. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

23 ____________________

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24 Total Tentative Minimum Tax (TMT). Multiply line 23 by 7% (.07) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

24 ____________________

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25 California adjusted gross income (AGI) from Schedule CA (540NR), line 45 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

25 ____________________

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26 NOL adjustment, if any, included on Schedule CA (540NR), line 21, column E. Enter as a positive number . . . . . . . . . . . . .

26 ____________________

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(

)

27 Alternative Minimum Tax Income (AMTI) exclusion. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

____________________

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28 Combine line 25 through line 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

28 ____________________

29 Adjustments and Preferences. See instructions before completing.

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a Investment interest expense . . . .

Intangible drilling costs . . . . . . . . .

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b Post-1986 depreciation . . . . . . . .

k Long-term contracts . . . . . . . . . . .

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c Adjusted gain or loss. . . . . . . . . .

Loss limitations . . . . . . . . . . . . . . .

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m Mining costs . . . . . . . . . . . . . . . . .

Incentive stock options and CQSOs

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e Passive activities . . . . . . . . . . . . .

n Patron’s adjustment. . . . . . . . . . . .

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Beneficiaries of estates & trusts

o Pollution control facilities . . . . . . .

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g Circulation expenditures . . . . . . .

. . .

Research and experimental costs

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h Depletion . . . . . . . . . . . . . . . . . . .

q Tax shelter farm activities . . . . . . .

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Installment sales . . . . . . . . . . . . .

r Related adjustments . . . . . . . . . . .

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Add line a through line r and enter total here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

29 _____________________

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30 Combine line 28 and line 29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

30 _____________________

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31 California Alternative Minimum Tax (AMT) net operating loss (NOL) deduction. See instructions . . . . . . . . . . . . . . . . . . . . .

31 _____________________

32 California AMT AGI. Subtract line 31 from line 30. If you did not itemize deductions, enter the result here and on line 40

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and skip line 33 through line 39. If you itemized deductions, enter the result here and continue to line 33. . . . . . . . . . . . . .

32 _____________________

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33 Itemized deductions (before federal AGI limitation and proration). Enter the amount from Schedule CA (540NR), line 42 . .

33 _____________________

34 Itemized deductions included in Part I.

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a Medical and dental expense, enter amount from Part I, line 2 . . . . . . . . . . . . . . . . . . . .

a _____________________

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b Personal property taxes and real property taxes, enter amount from Part I, line 3. . . . .

b _____________________

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c Interest on home mortgage, enter amount from Part I, line 4 . . . . . . . . . . . . . . . . . . . .

c _____________________

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d Miscellaneous itemized deductions, enter amount from Part I, line 5 . . . . . . . . . . . . . .

d _____________________

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e Investment interest expense adjustment, enter amount from Part I, line 7 . . . . . . . . . .

e _____________________

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34 ( ____________________

)

Combine line a through line e. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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35 Total AMT Itemized Deductions. Combine line 33 and line 34 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

35 ____________________

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36 Total AMTI. Enter the amount from Part I, line 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

36 ____________________

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37 Total AMT AGI. Add line 35 and line 36 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

37 ____________________

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38 AMT Itemized Deduction Percentage. Divide line 32 by line 37. Do not enter more than 1.0000 . . . . . . . . . . . . . . . . . . . . . .

___ . ___ ___ ___ ___

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39 Prorated AMT Itemized Deductions. Multiply line 35 by line 38 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

39 ____________________

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40 California AMTI. Subtract line 39 from line 32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

40 ____________________

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41 Total TMT. Enter the amount from line 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

41 ____________________

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42 California AMT Rate. Divide line 41 by amount from Part I, line 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

___ . ___ ___ ___ ___

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43 California TMT. Multiply line 40 by line 42 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

43 ____________________

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44 Regular Tax. Enter the amount from Long Form 540NR, line 37 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

44 ____________________

45 Alternative Minimum Tax. Subtract line 44 from line 43. If zero or less enter -0- here and on Long Form 540NR, line 71.

Continue to Part III to figure your allowable credits. (If you have a carryover credit for solar energy or commercial solar

energy, also enter the result on Side 3, Part III, Section C, line 22 or 23). If you make estimated tax payments for

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taxable year 2015, enter amount from line 45 on the 2015 Form 540-ES, Estimated Tax Worksheet, line 16 . . . . . . . . . . . .

45 ____________________

Side 2 Schedule P (540NR) 2014

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