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California Free Printable 2019 Schedule P (540) Alternative Minimum Tax and Credit Limitations - Residents for 2020 California Alternative Minimum Tax and Credit Limitations - Residents

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Alternative Minimum Tax and Credit Limitations - Residents
2019 Schedule P (540) Alternative Minimum Tax and Credit Limitations - Residents

TAXABLE YEAR 2019 Alternative Minimum Tax and Credit Limitations — Residents CALIFORNIA SCHEDULE P (540) Attach this schedule to Form 540. Name(s) as shown on Form 540 Your SSN or I T I N Part I Alternative Minimum Taxable Income (AMTI) Important: See instructions for information regarding California/federal differences. 1 If you itemized deductions, go to line 2. If you did not itemize deductions, enter your standard deduction from Form 540, line 18, and go to line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Medical and dental expenses. Enter the smaller of Schedule A (Form 1040 or 1040-SR), line 4, or 2½% (.025) 2 of Form 1040 or 1040-SR, line 8b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Personal property taxes and real property taxes. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Certain interest on a home mortgage not used to buy, build, or improve your home. See instructions . . . . . . . . . . . . . . . . . 4 5 Miscellaneous itemized deductions. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Refund of personal property taxes and real property taxes. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 ( Do not include your state income tax refund on this line. 7 7 Investment interest expense adjustment. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Post-1986 depreciation. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Adjusted gain or loss. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Incentive stock options and California qualified stock options (CQSOs). See instructions . . . . . . . . . . . . . . . . . . . . . . . . 10 11 Passive activities adjustment. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Beneficiaries of estates and trusts. Enter the amount from Schedule K-1 (541), line 12a. . . . . . . . . . . . . . . . . . . . . . . . . 12 13 Other adjustment and preferences. Enter the amount, if any, for each item, a through I, and enter the total on line 13. See instructions. a Circulation expenditures . . b c d e f Depletion . . . . . . . . . . . . . . Installment sales . . . . . . . . Intangible drilling costs . . . Long-term contracts . . . . . Loss limitations . . . . . . . . . | 00 | 00 | 00 | 00 | 00 | 00 g h i j k l 00 00 00 00 00 00 ) 00 00 00 00 00 00 | 00 | 00 | 00 | 00 | 00 | 00 Mining costs . . . . . . . . . . . . . Patron’s adjustment. . . . . . . . Pollution control facilities . . . Research and experimental . . Tax shelter farm activities . . . Related adjustments . . . . . . . 14 Total Adjustments and Preferences. Combine line 1 through line 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Enter taxable income from Form 540, line 19. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Net operating loss (NOL) deductions from Schedule CA (540), Part I, Section B, line 8b, line 8d, and line 8e, column B. Enter as a positive amount. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 AMTI exclusion. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 14 15 00 00 00 16 17 ( 00 00 ) 18 If your federal adjusted gross income (AGI) is less than the amount for your filing status (listed below), skip this line and go to line 19. If you itemized deductions and your federal AGI is more than the amount for your filing status, see instructions.. . . 18 ( Single or married/RDP filing separately . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $200,534 Married/RDP filing jointly or qualifying widow(er) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $401,072 Head of household . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $300,805 19 Combine line 14 through line 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 20 Alternative minimum tax NOL deduction. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 21 Alternative Minimum Taxable Income. Subtract line 20 from line 19 (if married/RDP filing separately and line 21 is more than $381,017, see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Part II Alternative Minimum Tax (AMT) 22 Exemption Amount. (If this schedule is for a certain child 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 $276,552 $73,748 22 Married/RDP filing jointly or qualifying widow(er) $368,737 $98,330 Married/RDP filing separately $184,365 $49,163 If Part I, line 21 is more than the amount shown above for your filing status, see instructions. 23 Subtract line 22 from line 21. If zero or less, enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 24 Tentative Minimum Tax. Multiply line 23 by 7.0% (.07) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 25 Regular tax before credits from Form 540, line 31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 26 Alternative Minimum Tax. Subtract line 25 from line 24. If zero or less, enter -0- here and on Form 540, line 61. If more than zero, enter here and on Form 540, line 61. If you make estimated tax payments for taxable year 2020, enter amount from line 26 on the 2020 Form 540-ES, Estimated Tax Worksheet, line 16. (Exception: If you have carryover credit for solar energy or commercial solar energy, first enter the result on Side 2, Part III, Section C, line 22 or 23) . . . . . . . . . . . . . . . . . 26 00 ) 00 00 00 } For Privacy Notice, get FTB 1131 ENG/SP. 7971193 Schedule P (540) 2019 00 00 00 00 00 Side 1 Part III Credits that Reduce Tax Note: Be sure to attach your credit forms to Form 540. 1 Enter the amount from Form 540, line 35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Enter the tentative minimum tax from Side 1, Part II, line 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (a) Credit amount Section A – Credits that reduce excess tax. 3 Subtract line 2 from line 1. If zero or less enter -0- and see instructions. This is your excess tax which may be offset by credits . . . . . . . . . . . . . . . . . . . . . . A1 Credits that reduce excess tax and have no carryover provisions. (b) Credit used this year 00 1 _____________________ 00 2 _____________________ (c) Tax balance that may be offset by credits 3 4 Code: 162 Prison inmate labor credit (FTB 3507) . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Code: 232 Child and dependent care expenses credit (FTB 3506) . . . . . . . . . . . . . . A2 Credits that reduce excess tax and have carryover provisions. See instructions. 4 5 6 Code: ____ ____ ____ Credit Name: 6 7 Code: ____ ____ ____ Credit Name: 7 8 Code: ____ ____ ____ Credit Name: 8 9 Code: ____ ____ ____ Credit Name: 9 10 Code: 188 Credit for prior year alternative minimum tax . . . . . . . . . . . . . . . . . . . . . 10 Section B – Credits that may reduce tax below tentative minimum tax. 11 If Part III, line 3 is zero, enter the amount from line 1. If line 3 is more than zero, enter the total of line 2 and the last entry in column (c). . . . . . . . . . . . . . . . . 11 B1 Credits that reduce net tax and have no carryover provisions. 12 Code: 170 Credit for joint custody head of household . . . . . . . . . . . . . . . . . . . . . . . 13 Code: 173 Credit for dependent parent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Code: 163 Credit for senior head of household . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Nonrefundable renter’s credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B2 Credits that reduce net tax and have carryover provisions. See instructions. 12 13 14 15 16 Code: ____ ____ ____ Credit Name: 17 Code: ____ ____ ____ Credit Name: 18 Code: ____ ____ ____ Credit Name: 19 Code: ____ ____ ____ Credit Name: B3 Other state tax credit. 16 17 18 19 20 Code: 187 Other state tax credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Section C – Credits that may reduce alternative minimum tax. 21 22 23 24 Enter your alternative minimum tax from Side 1, Part II, line 26 . . . . . . . . . . . . . . . Code: 180 Solar energy credit carryover from Section B2, column (d) . . . . . . . . . . Code: 181 Commercial solar energy credit carryover from Section B2, column (d). . Adjusted AMT. Enter the balance from line 23, column (c) here and on Form 540, line 61 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 22 23 24 This space reserved for 2D barcode Side 2 Schedule P (540) 2019 7972193 (d) Credit carryover
Extracted from PDF file 2019-california-form-540-schedule-p.pdf, last modified December 2019

More about the California Form 540 Schedule P Individual Income Tax Tax Credit TY 2019

See instructions for information regarding California/federal differences.

We last updated the Alternative Minimum Tax and Credit Limitations - Residents in February 2020, so this is the latest version of Form 540 Schedule P, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form 540 Schedule P directly from TaxFormFinder. You can print other California tax forms here.

Related California Individual Income Tax Forms:

TaxFormFinder has an additional 174 California income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the California Form 540 Schedule P.

Form Code Form Name
Form 540 Schedule CA California Adjustments - Residents
Form 540 Schedule CA INS Instructions for Schedule CA (540)
Form 540 Schedule S 2019 Instructions Schedule S
Form 540 Schedule D California Capital Gain or Loss Adjustment
Form 540 Schedule D-1 Sales of Business Property
Form 540 Schedule G-1 Tax on Lump-Sum Distributions

Download all CA tax forms View all 175 California Income Tax Forms


Form Sources:

California usually releases forms for the current tax year between January and April. We last updated California Form 540 Schedule P from the Franchise Tax Board in February 2020.

Show Sources >

Form 540 Schedule P is a California Individual Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of California Form 540 Schedule P

We have a total of nine past-year versions of Form 540 Schedule P in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form 540 Schedule P

2019 Schedule P (540) Alternative Minimum Tax and Credit Limitations - Residents

2018 Form 540 Schedule P

2018 Schedule P (540) - Alternative Minimum Tax and Credit Limitations - Residents

2017 Form 540 Schedule P

2017 Schedule P (540) - Alternative Minimum Tax and Credit Limitations - Residents

2016 Form 540 Schedule P

Taxable Year 2016 Alternative Minimum Tax and Credit Limitations - Residents California Schedule P (540)

Alternative Minimum Tax and Credit Limitations - Residents (Fill-in) 2015 Form 540 Schedule P

2015 Schedule P (540) -- Alternative Minimum Tax and Credit Limitations – Residents

Alternative Minimum Tax and Credit Limitations - Residents 2014 Form 540 Schedule P

2014 Schedule P (540) -- Alternative Minimum Tax and Credit Limitations – Residents

Alternative Minimum Tax and Credit Limitations - Residents (Fill-in) 2013 Form 540 Schedule P

2013 Schedule P (540) -- Alternative Minimum Tax and Credit Limitations – Residents

2012 Form 540 Schedule P

2012 Schedule P (540) -- Alternative Minimum Tax and Credit Limitations – Residents

2011 California Schedule P (540) 2011 Form 540 Schedule P

2011 Schedule P (540) -- Alternative Minimum Tax and Credit Limitations – Residents


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