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California Tax Form 100wsp: Alternative Minimum Tax and Credit Limitations — Water’s-Edge Filers

Use the California Tax Form Calculator California Tax Form 100wsp: Alternative Minimum Tax and Credit Limitations — Water’s-Edge Filers as a stand alone tax form calculator to quickly calculate specific amounts for your 2024 California state tax return.

Alternative Minimum Tax and Credit Limitations — Water’s-Edge Filers
Part I Tentative Minimum Tax (TMT) and Alternative Minimum Tax (AMT) Computation
1	Net income (loss) after state adjustments. Enter the amount from Form 100W, line 17 or Schedule R, line 1c. See instructions					1
2	Adjustments. See instructions
a	Depreciation of tangible property placed in service after 1986				2a
b	Amortization of certified pollution control facilities placed in service after 1986				2b
c	Amortization of mining exploration and development costs incurred after 1987				2c
d	Basis adjustments in determining gain or loss from sale or exchange of property				2d
e	Long-term contracts entered into after February 28, 1986				2e
f	Installment sales of certain property				2f
g	Tax shelter farm activities (personal service corporations only)				2g
h	Passive activities (closely held corporations and personal service corporations only)				2h
i	Certain loss limitations				2i
j	Beneficiaries of estates and trusts. Enter the amount from Schedule K-1 (541), line 12a				2j
k	Merchant marine capital construction funds				2k
l	Combine line 2a through line 2k					2l
3	Tax preference items. See instructions
a	Depletion				3a
b	Intangible drilling costs				3b
c	Add line 3a and line 3b					3c
4	Pre-adjustment alternative minimum taxable income (AMTI):
a	Combine line 1, line 2l, and line 3c					4a
b	Apportioned pre-adjustment AMTI. If income is derived from sources both within and outside of California, see instructions. Otherwise, enter the amount from line 4a					4b
5	Adjusted current earnings (ACE) adjustment:
a	Enter ACE. See instructions				5a
b	Apportioned ACE. If income is derived from sources both within and outside of California, see instructions. Otherwise, enter the amount from line 5a				5b
c	Subtract line 4b from line 5b (even if one or both of the figures are negative). If negative, use brackets				5c
d	Multiply line 5c by 75% (0.75) and enter the result as a positive number					5d
e	Enter the excess, if any, of the corporation’s total increases in AMTI from prior year ACE adjustments over its total reductions in AMTI from prior year ACE adjustments. Enter an amount on line 5e (even if line 5c is positive)					5e
f	ACE adjustment: • If line 5c is a positive amount or zero, enter the amount from line 5d on line 5f as a positive amount. • If line 5c is a negative amount, enter the smaller of line 5d or line 5e on line 5f as a negative amount					5f
6	Combine line 4b and line 5f. If zero or less, enter -0-					6
7a	Reduction for disaster loss deduction, if any, from Form 100W, line 21				7a
b	AMT net operating loss deduction. See instructions				7b
c	Combine line 7a and line 7b					7c
8	AMTI. Subtract line 7c from line 6					8
9	Enter $40000 exemption. See instructions					9
10	Enter $150000 limitation. See instructions					10
11	Subtract line 10 from line 8. If zero or less, enter -0-					11
12	Multiply line 11 by 25% (0.25)					12
13	Exemption. Subtract line 12 from line 9. If zero or less, enter -0-					13
14	Subtract line 13 from line 8. If zero or less, enter -0-					14
15	Multiply line 14 by 6.65% (0.665)				15
16	Banks and financial corps. Multiply Form 100W, line 22, by 2% (0.02). See instructions				16
17	TMT. Add line 15 and line 16 from Side 1					17
18	Regular tax before credits. Enter the amount from Form 100W, line 23. See instructions					18
19	AMT. Subtract line 18 from line 17. If zero or less, enter -0-. See instructions					19
Part II Credits that Reduce Tax. See instructions.
1	Regular tax from Form 100W, line 23					1
2	TMT (before credits) from Part I, line 17 (but not less than the minimum franchise tax, if applicable)					2
Section A – Credits that reduce excess regular tax			(a) Credit amount	(b) Credit used this year	(c) Tax balance that may be offset by credits	(d) Credit carryover
3	Subtract line 2 from line 1. If zero or less, enter -0- and see instructions. This is the excess regular tax which may be offset by credits	3
A1	Credits that reduce excess regular tax and have no carryover provisions.	4
4	Code: 162 Prison Inmate Labor Credit
A2	Credits that reduce excess regular tax and have carryover provisions. See instructions.	5
5	Code: Credit name:
6	Code: Credit name:	6
7	Code: Credit name:	7
8	Code: Credit name:	8
9	Code: 188 Credit for prior year AMT from Part III, line 3	9
Section B – Credits that may reduce regular tax below TMT		10
10	If Part II, line 3 is zero, enter the amount from line 1 minus the minimum franchise tax, if applicable. If line 3 is more than zero, enter the total of Part II, line 2, minus the minimum franchise tax, if applicable, plus line 9, column (c) or the last entry in column (c)
B	Credits that reduce net tax and have carryover provisions. See instructions.	11
11	Code: Credit name:
12	Code: Credit name:	12
13	Code: Credit name:	13
14	Code: Credit name:	14
Section C – Credits that may reduce AMT. See instructions.		15
15	Enter the AMT from Part I, line 19
16a	Code: 180 Solar Energy Credit carryover from Section B, column (d)	16a
16b	Code: 181 Commercial Solar Energy Credit carryover from Section B, column (d)	16b
17	Code: 176 Enterprise Zone Hiring & Sales or Use Tax Credit carryover from Section B, column (d)	17
18	Adjusted AMT. Enter the balance from line 17, column (c) here and on Form 100W, line 29	18
Part III Credit for Prior Year AMT
1	Enter the AMT from the 2016 Schedule P (100). See instructions					1
2	Carryover of unused credit for prior year AMT. See instructions					2
3	Total available credit. Add line 1 and line 2. Enter here and on Part II, line 9, column (a)					3

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