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Federal Free Printable 2020 Schedule I (Form 1041) for 2021 Federal Alternative Minimum Tax - Estates and Trusts

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Alternative Minimum Tax - Estates and Trusts
2020 Schedule I (Form 1041)

SCHEDULE I (Form 1041) Department of the Treasury Internal Revenue Service Alternative Minimum Tax—Estates and Trusts ▶ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Employer identification number 32 33 34 35 36 37 38 39 40 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 . . . . . . . . . . . . . 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 . . . . . . . . . Note: Complete Part II below before going to line 24. Income distribution deduction from Part II, line 42 . . . . . . . . . 24 Estate tax deduction (from Form 1041, line 19) . . . . . . . . . . 25 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: • $25,400 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 $25,400, but less than $186,400, go to line 43. • $186,400 or more, enter the amount from line 27 on line 49 and go to line 50. • ESBTs, see instructions. Part II 28 29 30 31 2020 ▶ 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 1 2 3 4 ( 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 ( 20 21 22 ( 23 ) ) ) 26 27 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 28 29 30 31 32 33 ( 34 ) 35 36 37 38 39 40 Schedule I (Form 1041) 2020 Page 2 Schedule I (Form 1041) 2020 Part II 41 42 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 43 44 45 46 47 48 49 50 51 52 53 54 Income Distribution Deduction on a Minimum Tax Basis (continued) line 35. If zero . . . . . 40 or line 41. . . . . . 42 Alternative Minimum Tax Exemption amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . Enter the amount from line 27 . . . . . . . . . . . . . . . . 44 $84,800 Phase-out of exemption amount . . . . . . . . . . . . . . . 45 Subtract line 45 from line 44. If zero or less, enter -0- . . . . . . . . 46 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 . . . . . . . . . . . . . . . . . . . . . . . . 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: • $197,900 or less, multiply line 49 by 26% (0.26). • Over $197,900, multiply line 49 by 28% (0.28) and subtract $3,958 from the result . . . . . . Alternative minimum foreign tax credit (see instructions) . . . . . . . . . . . . . . . Tentative minimum tax. Subtract line 51 from line 50 . . . . . . . . . . . . . . . . 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 41 43 $25,400 47 48 49 50 51 52 53 54 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. 55 Enter the amount from line 49 . . . . . . . . . . . . . . . . . . . . . . . . 56 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) . . . . . . . . . . . . . . . . . . . . . . 56 57 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- . . . . . . . . . . . . . . . 57 58 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) . . . . . . . . . . 58 59 Enter the smaller of line 55 or line 58 . . . . . . . . . . . . . . . . . . . . . 60 Subtract line 59 from line 55 . . . . . . . . . . . . . . . . . . . . . . . . If line 60 is $197,900 or less, multiply line 60 by 26% (0.26). Otherwise, multiply line 60 by 28% (0.28) 61 and subtract $3,958 from the result . . . . . . . . . . . . . . . . . . . . . ▶ $2,650 62 Maximum amount subject to the 0% rate . . . . . . . . . . . . 62 63 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- . . . . 64 65 66 67 Subtract line 63 from line 62. If zero or less, enter -0- . . . . Enter the smaller of line 55 or line 56 . . . . . . . . . Enter the smaller of line 64 or line 65. This amount is taxed at 0% Subtract line 66 from line 65 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55 59 60 61 63 64 65 66 67 Schedule I (Form 1041) 2020 Page 3 Schedule I (Form 1041) 2020 Part IV Line 50 Computation Using Maximum Capital Gains Rates (continued) 68 69 Maximum amount subject to rates below 20% Enter the amount from line 64 . . . . . . 70 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- . . . . . . . . . ▶ 71 72 73 74 75 76 77 78 79 80 81 82 83 . . . . . . . . . . . . . . . . . . . . 68 69 $13,150 70 Add line 69 and line 70 . . . . . . . . . . . . . . . . . . 71 Subtract line 71 from line 68. If zero or less, enter -0- . . . . . . . . 72 Enter the smaller of line 67 or 72 . . . . . . . . . . . . . . . 73 Multiply line 73 by 15% (0.15) . . . . . . . . . . . . . . . . . . . . . . . ▶ Add lines 66 and 73 . . . . . . . . . . . . . . . . . . . 75 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 . . . . . . . . . . . . . . . . 76 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 . . . . . . . . . . . . . . . . . . 78 Subtract line 78 from line 55 . . . . . . . . . . . . . . . . 79 Multiply line 79 by 25% (0.25) . . . . . . . . . . . . . . . . . . . . . . . ▶ Add lines 61, 74, 77, and 80 . . . . . . . . . . . . . . . . . . . . . . . . . If line 55 is $197,900 or less, multiply line 55 by 26% (0.26). Otherwise, multiply line 55 by 28% (0.28) and subtract $3,958 from the result . . . . . . . . . . . . . . . . . . . . . . Enter the smaller of line 81 or line 82 here and on line 50 . . . . . . . . . . . . . . . 74 77 80 81 82 83 Schedule I (Form 1041) 2020
Extracted from PDF file 2020-federal-1041-schedule-i.pdf, last modified December 2020

More about the Federal 1041 (Schedule I) Estate Tax TY 2020

We last updated the Alternative Minimum Tax - Estates and Trusts in January 2021, so this is the latest version of 1041 (Schedule I), fully updated for tax year 2020. You can download or print current or past-year PDFs of 1041 (Schedule I) directly from TaxFormFinder. You can print other Federal tax forms here.

Related Federal Estate Tax Forms:

TaxFormFinder has an additional 774 Federal income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Federal 1041 (Schedule I).

Form Code Form Name
1041 (Schedule D) Capital Gains and Losses
1041 (Schedule K-1) Beneficiary's Share of Income, Deductions, Credits, etc.
1041 (Schedule J) Accumulation Distribution for Certain Complex Trusts

Download all  tax forms View all 775 Federal Income Tax Forms


Form Sources:

The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal 1041 (Schedule I) from the Internal Revenue Service in January 2021.

Show Sources >

About the Estate Tax

The IRS, and many states, impose an estate tax on the transfer of cash and property between a decedent and their beneficiaries. These taxes generally only apply to estates over a certain size threshold, generally several million dollars, and therefore only affects the largest few percent of estates in the United States.

Historical Past-Year Versions of Federal 1041 (Schedule I)

We have a total of ten past-year versions of 1041 (Schedule I) in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2020 1041 (Schedule I)

2020 Schedule I (Form 1041)

2019 1041 (Schedule I)

2019 Schedule I (Form 1041)

2018 1041 (Schedule I)

2018 Schedule I (Form 1041)

2017 1041 (Schedule I)

2017 Schedule I (Form 1041)

2016 1041 (Schedule I)

2016 Schedule I (Form 1041)

Alternative Minimum Tax—Estates and Trusts 2015 1041 (Schedule I)

2015 Schedule I (Form 1041)

Alternative Minimum Tax—Estates and Trusts 2014 1041 (Schedule I)

2014 Schedule I (Form 1041)

Alternative Minimum Tax—Estates and Trusts 2013 1041 (Schedule I)

2013 Schedule I (Form 1041)

Alternative Minimum Tax-Estates and Trusts 2012 1041 (Schedule I)

2012 Schedule I (Form 1041)

Alternative Minimum Tax-Estates and Trusts 2011 1041 (Schedule I)

2011 Schedule I (Form 1041)


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