Use Tax Form 1041si: Alternative Minimum Tax—Estates and Trusts as a stand alone tax form calculator to quickly calculate specific amounts for your 2024 tax return. Alternatively you can use one of our Combined Federal and State Tax Estimator to quickly calculate your salary, tax and take home pay.
Alternative Minimum Tax—Estates and Trusts Part I Estate’s or Trust’s Share of Alternative Minimum Taxable Income 1 Adjusted total income or (loss) (from Form 1041, line 17) 1 2 Interest 2 3 Taxes 3 4 Miscellaneous itemized deductions (from Form 1041, line 15c) 4 5 Refund of taxes 5 6 Depletion (difference between regular tax and AMT) 6 7 Net operating loss deduction. Enter as a positive amount 7 8 Interest from specified private activity bonds exempt from the regular tax 8 9 Qualified small business stock (see instructions) 9 10 Exercise of incentive stock options (excess of AMT income over regular tax income) 10 11 Other estates and trusts (amount from Schedule K-1 (Form 1041), box 12, code A) 11 12 Electing large partnerships (amount from Schedule K-1 (Form 1065-B), box 6) 12 13 Disposition of property (difference between AMT and regular tax gain or loss) 13 14 Depreciation on assets placed in service after 1986 (difference between regular tax and AMT) 14 15 Passive activities (difference between AMT and regular tax income or loss) 15 16 Loss limitations (difference between AMT and regular tax income or loss) 16 17 Circulation costs (difference between regular tax and AMT) 17 18 Long-term contracts (difference between AMT and regular tax income) 18 19 Mining costs (difference between regular tax and AMT) 19 20 Research and experimental costs (difference between regular tax and AMT) 20 21 Income from certain installment sales before January 1, 1987 21 22 Intangible drilling costs preference 22 23 Other adjustments, including income-based related adjustments 23 24 Alternative tax net operating loss deduction (See the instructions for the limitation that applies.) 24 25 Adjusted alternative minimum taxable income. Combine lines 1 through 24 25 Note: Complete Part II below before going to line 26. 26 Income distribution deduction from Part II, line 44 26 27 Estate tax deduction (from Form 1041, line 19) 27 28 Add lines 26 and 27 28 29 Estate’s or trust’s share of alternative minimum taxable income. Subtract line 28 from line 25 29 If line 29 is: Note: Complete Part II below before going to line 26. 30 Adjusted alternative minimum taxable income (see instructions) 30 31 Adjusted tax-exempt interest (other than amounts included on line 8) 31 32 Total net gain from Schedule D (Form 1041), line 19, column (1). If a loss, enter -0- 32 33 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) 33 34 Capital gains paid or permanently set aside for charitable purposes from gross income (see instructions) 34 35 Capital gains computed on a minimum tax basis included on line 25 35 36 Capital losses computed on a minimum tax basis included on line 25. Enter as a positive amount 36 37 Distributable net alternative minimum taxable income (DNAMTI). Combine lines 30 through 36. If zero or less, enter -0- 37 38 Income required to be distributed currently (from Form 1041, Schedule B, line 9) 38 39 Other amounts paid, credited, or otherwise required to be distributed (from Form 1041, Schedule B, line 10) 39 40 Total distributions. Add lines 38 and 39 40 41 Tax-exempt income included on line 40 (other than amounts included on line 8) 41 42 Tentative income distribution deduction on a minimum tax basis. Subtract line 41 from line 40 42 43 Tentative income distribution deduction on a minimum tax basis. Subtract line 31 from line 37. If zero or less, enter -0- 43 44 Income distribution deduction on a minimum tax basis. Enter the smaller of line 42 or line 43. Enter here and on line 26 44 Part III Alternative Minimum Tax 45 Exemption amount 45 46 Enter the amount from line 29 46 47 Phase-out of exemption amount 47 48 Subtract line 47 from line 46. If zero or less, enter -0- 48 49 Multiply line 48 by 25% (0.25) 49 50 Subtract line 49 from line 45. If zero or less, enter -0- 50 51 Subtract line 50 from line 46 51 52 Go to Part IV of Schedule I to figure line 52 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 51 is— 52 53 Alternative minimum foreign tax credit (see instructions) 53 54 Tentative minimum tax. Subtract line 53 from line 52 54 55 Enter the tax from Form 1041, Schedule G, line 1a (minus any foreign tax credit from Schedule G, line 2a) 55 Part IV Line 52 Computation Using Maximum Capital Gains Rates 56 Alternative minimum tax. Subtract line 55 from line 54. If zero or less, enter -0-. Enter here and on Form 1041, Schedule G, line 1c 56 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. 57 Enter the amount from line 51 57 58 Enter the amount from Schedule D (Form 1041), line 26, 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) 58 59 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- 59 60 If you didn't complete a Schedule D Tax Worksheet for the regular tax or the AMT, enter the amount from line 58. Otherwise, add lines 58 and 59 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) 60 61 Enter the smaller of line 57 or line 60 61 62 Subtract line 61 from line 57 62 63 If line 62 is $186300 or less, multiply line 62 by 26% (0.26). Otherwise, multiply line 62 by 28% (0.28) and subtract $3726 from the result 63 64 Maximum amount subject to the 0% rate 64 65 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 22; if zero or less, enter -0- 65 66 Subtract line 65 from line 64. If zero or less, enter -0- 66 67 Enter the smaller of line 57 or line 58 67 68 Enter the smaller of line 66 or line 67. This amount is taxed at 0% 68 69 Subtract line 68 from line 67 69 70 Maximum amount subject to rates below 20% 70 71 Enter the amount from line 66 71 72 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 22; if zero or less, enter -0- ▸ 72 73 Add line 71 and line 72 73 74 Subtract line 73 from line 70. If zero or less, enter -0- 74 75 Enter the smaller of line 69 or 74 75 76 Multiply line 75 by 15% (0.15) 76 77 Add lines 68 and 75 77 78 Subtract line 77 from line 67 78 79 Multiply line 78 by 20% (0.2) ▸ 79 80 Add lines 62, 77, and 78 80 81 Subtract line 80 from line 57 81 82 Multiply line 81 by 25% (0.25) 82 83 Add lines 63, 76, 79, and 82 83 84 If line 57 is $186300 or less, multiply line 57 by 26% (0.26). Otherwise, multiply line 57 by 28% (0.28) and subtract $3726 from the result 84 85 Enter the smaller of line 83 or line 84 here and on line 52 85