Instructions For Schedule I (Form 1041) - 2016 (Page 9 of 9) in pdf

Part IV—Line 52

4. Multiply line 4 of the worksheet by

in the Instructions for Schedule D (Form

0.1071 (instead of 0.3687) and enter the

1041), and line 3 of the Qualified

Computation Using

results on line 5 of the worksheet.

Dividends Tax Worksheet. Use amounts

Maximum Capital Gains

from the AMT Schedule D (Form 1041),

5. Enter the amount from Schedule I

Rates

AMT Schedule D Tax Worksheet in the

(Form 1041), line 78 on line 6 of the

Instructions for Schedule D (Form 1041)

worksheet.

Lines 58, 59, and 60

or Qualified Dividends Tax Worksheet in

6. Multiply line 6 of the worksheet by

the Instructions for Form 1041 to

If you used Schedule D (Form 1041),

0.2857 (instead of 0.4949) and enter the

complete Schedule I (Form 1041), lines

the Schedule D Tax Worksheet in the

result on line 7 of the worksheet.

58, 59, and 60. Keep the AMT Form

Instructions for Schedule D (Form

7. Enter the amount from Schedule I

8949, AMT Schedule D (Form 1041)

1041), or the Qualified Dividends Tax

(Form 1041), line 75 on line 8 of the

and applicable AMT worksheet for your

Worksheet in the Instructions for Form

worksheet.

records, but don’t attach any of them to

1041, you generally may enter the

Form 1041.

8. Multiply line 8 of the worksheet by

amounts as instructed on Schedule I,

lines 58, 59, and 60. But don’t use those

0.4643 (instead of 0.6212). Enter the

Don’t decrease the estate's or

amounts if any of the following apply.

result on line 9 of the worksheet.

trust's section 1202 exclusion

1. The gain or loss from any

9. Enter the amount from

by the amount, if any, included

CAUTION

transaction reported on Form 8949 or

Schedule I, line 68, on line 10 of the

on line 9 of Schedule I (Form 1041) .

Schedule D (Form 1041) is different for

worksheet.

the AMT (for example, because the

If the estate or trust is a beneficiary

10. Complete lines 11 and 12 of the

AMT basis was different due to

of another estate or trust. If the

worksheet as instructed on the

depreciation adjustments or an

estate or trust received a Schedule K-1

worksheet.

incentive stock option adjustment or the

(Form 1041) from another estate or trust

AMT capital loss carryover from 2015

that shows an amount in box 12 with

Step 7. Enter the amount from

was different).

code B, C, D, E, or F, follow the

Schedule I (Form 1041), line 52 on the

instructions in the table below.

AMT Form 1116, line 20. Complete lines

2. You didn't complete Part V of

19, 21, and 22 of the AMT Form 1116.

Schedule D (Form 1041), the

Schedule D Tax Worksheet in the

Step 8. Complete Part IV of the first

IF the code in box 12

THEN include that

Instructions for Schedule D (Form

is...

amount in the total

AMT Form 1116 only.

1041), or the Qualified Dividends Tax

on...

Enter on line 53 of Schedule I the

Worksheet in the Instructions for Form

line 2 of an AMT

amount from line 30 of the first AMT

1041 because Form 1041, line 22, was

Qualified Dividends

Form 1116.

zero or less.

Tax Worksheet in the

Attach to the estate's or trust's return

3. The estate or trust received a

Instructions for Form

all AMT Forms 1116 you used to figure

1041; line 23 of an

Schedule K-1 (Form 1041) that shows

your AMT foreign tax credit.

AMT Schedule D

an amount in box 12 with code B, C, D,

(Form 1041); or line 2

E, or F. If this applies, see If the estate

AMT foreign tax credit carryback

of an AMT Schedule D

or trust is a beneficiary of another estate

and carryforward. If the AMT foreign

Tax Worksheet in the

or trust, later.

tax credit is limited, any unused amount

Instructions for

can be carried back or forward under

Schedule D (Form

If 1 above applies, complete an AMT

section 904(c). The election to forego

1041), whichever

Form 8949. Next, if 1 or 3 applies,

applies.

the carryback period for regular tax

complete Parts I through IV of an AMT

purposes also applies for the AMT.

line 5, column (h), of

Schedule D (Form 1041) by refiguring

an AMT Schedule D

Simplified limitation election. The

the amounts of your gains and losses

(Form 1041).

estate or trust may elect to use a

for the AMT. Then, if 1, 2, or 3 applies,

line 12, column (h), of

simplified section 904 limitation to figure

complete the following lines of the

an AMT Schedule D

its AMT foreign tax credit. To do so, use

applicable schedule or worksheet:

(Form 1041).

the estate's or trust's regular tax income

Lines 22 through 26 of an AMT

for Form 1116, Part I, instead of

Schedule D (Form 1041),

line 11 of an AMT

refiguring the estate's or trust's foreign

Lines 2 through 13 of an AMT

Unrecaptured Section

1250 Gain Worksheet

source income for the AMT, as

Schedule D Tax Worksheet in the

in the Instructions for

described in Step 2 in the instructions

Instructions for Schedule D (Form

Schedule D (Form

for line 53, earlier. The estate or trust

1041), or

1041).

must make the election for the first tax

Lines 2 through 4 of a Qualified

line 4 of an AMT 28%

year after 1997 for which it claims an

Dividends Tax Worksheet in the

Rate Gain Worksheet

AMT foreign tax credit. If it doesn't make

Instructions for Form 1041.

in the Instructions for

the election for that year, it may not

If you were required to complete an

Schedule D (Form

make it for a later year. Once made, the

AMT Form 4952, use it to figure the

1041).

amount to enter on line 25 of the AMT

election applies to all later tax years and

Schedule D (Form 1041), lines 3 and 4

may be revoked only with IRS consent.

of the AMT Schedule D Tax Worksheet

2016 Instructions for Schedule I (Form 1041)

Instructions For Schedule I (Form 1041) - 2016 Page 9

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