Federal Alternative Minimum Tax - Estates and Trusts

Alternative Minimum Tax - Estates and Trusts
2023 Schedule I (Form 1041)
SCHEDULE I
(Form 1041)
Department of the Treasury
Internal Revenue Service

Alternative Minimum Tax—Estates and Trusts

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Employer identification number

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Estate’s or Trust’s Share of Alternative Minimum Taxable Income

Adjusted total income or (loss) (from Form 1041, line 17). ESBTs, see instructions . . . . . . .
Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Refund of taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Depletion (difference between regular tax and AMT) . . . . . . . . . . . . . . . . .
Net operating loss deduction. Enter as a positive amount . . . . . . . . . . . . . . .
Interest from specified private activity bonds exempt from the regular tax . . . . . . . . . .
Qualified small business stock (see instructions) . . . . . . . . . . . . . . . . . .
Exercise of incentive stock options (excess of AMT income over regular tax income) . . . . . .
Other estates and trusts (amount from Schedule K-1 (Form 1041), box 12, code A) . . . . . .
Disposition of property (difference between AMT and regular tax gain or loss) . . . . . . . .
Depreciation on assets placed in service after 1986 (difference between regular tax and AMT) . . .
Passive activities (difference between AMT and regular tax income or loss) . . . . . . . . .
Loss limitations (difference between AMT and regular tax income or loss) . . . . . . . . . .
Circulation costs (difference between regular tax and AMT) . . . . . . . . . . . . . .
Long-term contracts (difference between AMT and regular tax income) . . . . . . . . . .
Mining costs (difference between regular tax and AMT) . . . . . . . . . . . . . . . .
Research and experimental costs (difference between regular tax and AMT) . . . . . . . . .
Income from certain installment sales before January 1, 1987
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Intangible drilling costs preference . . . . . . . . . . . . . . . . . . . . . .
Other adjustments, including income-based related adjustments . . . . . . . . . . . .
Alternative tax net operating loss deduction (See the instructions for the limitation that applies.) . .
Adjusted alternative minimum taxable income. Combine lines 1 through 22 . . . . . . . . .
Complete Part II below before going to line 24.
Income distribution deduction from Part II, line 42 . . . . . . . . .
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Estate tax deduction (from Form 1041, line 19) . . . . . . . . . .
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Add lines 24 and 25 . . . . . . . . . . . . . . . . . . . . . . . . . . .
Estate’s or trust’s share of alternative minimum taxable income. Subtract line 26 from line 23 . . .
If line 27 is:
• $28,400 or less, stop here and enter -0- on Form 1041, Schedule G, line 1c. The estate or trust isn’t
liable for the alternative minimum tax.
• Over $28,400, but less than $208,200, go to line 43.
• $208,200 or more, enter the amount from line 27 on line 49 and go to line 50.
• ESBTs, see instructions.

Part II
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2023

Attach to Form 1041.
Go to www.irs.gov/Form1041 for instructions and the latest information.

Name of estate or trust

Part I

OMB No. 1545-0092

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Income Distribution Deduction on a Minimum Tax Basis

Adjusted alternative minimum taxable income (see instructions) . . . . . . . . . . . . .
Adjusted tax-exempt interest (other than amounts included on line 7) . . . . . . . . . . .
Total net gain from Schedule D (Form 1041), line 19, column (1). If a loss, enter -0. . . . . .
Capital gains for the tax year allocated to corpus and paid or permanently set aside for charitable
purposes (from Form 1041, Schedule A, line 4) . . . . . . . . . . . . . . . . . .
Capital gains paid or permanently set aside for charitable purposes from gross income (see instructions)
Capital gains computed on a minimum tax basis included on line 23 . . . . . . . . . . .
Capital losses computed on a minimum tax basis included on line 23. Enter as a positive amount . .
Distributable net alternative minimum taxable income (DNAMTI). Combine lines 28 through 34. If zero
or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Income required to be distributed currently (from Form 1041, Schedule B, line 9) . . . . . . .
Other amounts paid, credited, or otherwise required to be distributed (from Form 1041, Schedule B, line 10)
Total distributions. Add lines 36 and 37 . . . . . . . . . . . . . . . . . . . . .
Tax-exempt income included on line 38 (other than amounts included on line 7) . . . . . . .
Tentative income distribution deduction on a minimum tax basis. Subtract line 39 from line 38 . . .

For Paperwork Reduction Act Notice, see the Instructions for Form 1041.

Cat. No. 51517Q

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Schedule I (Form 1041) 2023

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Schedule I (Form 1041) 2023

Part II
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Tentative income distribution deduction on a minimum tax basis. Subtract line 29 from
or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . .
Income distribution deduction on a minimum tax basis. Enter the smaller of line
Enter here and on line 24 . . . . . . . . . . . . . . . . . . . . .

Part III
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Income Distribution Deduction on a Minimum Tax Basis (continued)
line 35. If zero
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40 or line 41.
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Alternative Minimum Tax

Exemption amount . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Enter the amount from line 27 . . . . . . . . . . . . . . . .
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$94,600
Phase-out of exemption amount . . . . . . . . . . . . . . .
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Subtract line 45 from line 44. If zero or less, enter -0- . . . . . . . .
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Multiply line 46 by 25% (0.25) . . . . . . . . . . . . . . . . . . . . . . . .
Subtract line 47 from line 43. If zero or less, enter -0- . . . . . . . . . . . . . . . .
Subtract line 48 from line 44
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Go to Part IV of Schedule I to figure line 50 if the estate or trust has qualified dividends or has a gain
on lines 18a and 19 of column (2) of Schedule D (Form 1041) (as refigured for the AMT, if necessary).
Otherwise, if line 49 is:
• $220,700 or less, multiply line 49 by 26% (0.26).
• Over $220,700, multiply line 49 by 28% (0.28) and subtract $4,414 from the result . . . . . .
Alternative minimum foreign tax credit (see instructions) . . . . . . . . . . . . . . .
Tentative minimum tax. Subtract line 51 from line 50
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Enter the tax from Form 1041, Schedule G, line 1a (minus any foreign tax credit from Schedule G, line 2a)
Alternative minimum tax. Subtract line 53 from line 52. If zero or less, enter -0-. Enter here and on
Form 1041, Schedule G, line 1c . . . . . . . . . . . . . . . . . . . . . . .

Part IV

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$28,400

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Line 50 Computation Using Maximum Capital Gains Rates

Caution: If you didn’t complete Part V of Schedule D (Form 1041), the Schedule D Tax Worksheet, or the
Qualified Dividends Tax Worksheet in the Instructions for Form 1041, see the instructions before completing
this part.
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Enter the amount from line 49 . . . . . . . . . . . . . . . . . . . . . . . .
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Enter the amount from line 26 of Schedule D (Form 1041), line 13 of the
Schedule D Tax Worksheet, or line 4 of the Qualified Dividends Tax Worksheet
in the Instructions for Form 1041, whichever applies (as refigured for the AMT,
if necessary) . . . . . . . . . . . . . . . . . . . . . .
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Enter the amount from Schedule D (Form 1041), line 18b, column (2) (as
refigured for the AMT, if necessary). If you didn’t complete Schedule D for the
regular tax or the AMT, enter -0- . . . . . . . . . . . . . . .
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If you didn’t complete a Schedule D Tax Worksheet for the regular tax or the
AMT, enter the amount from line 56. Otherwise, add lines 56 and 57 and enter
the smaller of that result or the amount from line 10 of the Schedule D Tax
Worksheet (as refigured for the AMT, if necessary) . . . . . . . . . .
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Enter the smaller of line 55 or line 58
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Subtract line 59 from line 55
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If line 60 is $220,700 or less, multiply line 60 by 26% (0.26). Otherwise, multiply line 60 by 28% (0.28)
and subtract $4,414 from the result . . . . . . . . . . . . . . . . . . . . . .
$3,000
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Maximum amount subject to the 0% rate . . . . . . . . . . . .
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Enter the amount from line 27 of Schedule D (Form 1041), line 14 of the
Schedule D Tax Worksheet, or line 5 of the Qualified Dividends Tax Worksheet
in the Instructions for Form 1041, whichever applies (as figured for the regular
tax). If you didn’t complete Schedule D or either worksheet for the regular tax,
enter the amount from Form 1041, line 23; if zero or less, enter -0- . . . .

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Subtract line 63 from line 62. If zero or less, enter -0- . . . .
Enter the smaller of line 55 or line 56
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Enter the smaller of line 64 or line 65. This amount is taxed at 0%
Subtract line 66 from line 65
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Schedule I (Form 1041) 2023

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Schedule I (Form 1041) 2023

Part IV

Line 50 Computation Using Maximum Capital Gains Rates (continued)

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Maximum amount subject to rates below 20%
Enter the amount from line 64 . . . . . .

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Enter the amount from line 27 of Schedule D (Form 1041), line 18 of the
Schedule D Tax Worksheet, or line 5 of the Qualified Dividends Tax
Worksheet, whichever applies (as figured for the regular tax). If you didn’t
complete Schedule D or either worksheet for the regular tax, enter the amount
from Form 1041, line 23; if zero or less, enter -0- . . . . . . . . . .

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$14,650

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Add line 69 and line 70 . . . . . . . . . . . . . . . . . .
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Subtract line 71 from line 68. If zero or less, enter -0- . . . . . . . .
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Enter the smaller of line 67 or line 72
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Multiply line 73 by 15% (0.15) . . . . . . . . . . . . . . . . . . . . . . . .
Add lines 66 and 73 . . . . . . . . . . . . . . . . . . .
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If lines 75 and 55 are the same, skip lines 76 through 80 and go to line 81. Otherwise, go to line 76.
Subtract line 75 from line 65
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Multiply line 76 by 20% (0.20) . . . . . . . . . . . . . . . . . . . . . . . .
If line 57 is zero or blank, skip lines 78 through 80 and go to line 81. Otherwise, go to line 78.
Add lines 60, 75, and 76 . . . . . . . . . . . . . . . . . .
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Subtract line 78 from line 55
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Multiply line 79 by 25% (0.25) . . . . . . . . . . . . . . . . . . . . . . . .
Add lines 61, 74, 77, and 80 . . . . . . . . . . . . . . . . . . . . . . . . .
If line 55 is $220,700 or less, multiply line 55 by 26% (0.26). Otherwise, multiply line 55 by 28% (0.28)
and subtract $4,414 from the result . . . . . . . . . . . . . . . . . . . . . .
Enter the smaller of line 81 or line 82 here and on line 50 . . . . . . . . . . . . . . .

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Schedule I (Form 1041) 2023