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4 NEAR FINAL DRAFT 8/1/24 4
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6 *241301*6
7 2024 Schedule M1MTC, Alternative Minimum Tax Credit 7
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9 YOUR FIRST NAME, INIT YOUR LAST NAMEXXXXXX 999999999 9
10 Your First Name and Initial Last Name Social Security Number 10
11 Read the instructions before you complete this schedule. Round amounts to nearest whole dollar. 11
12 Part 1 12
13 1 2023 adjusted gross income (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 12345678 13
14 14
15 2 2023 federally exempt interest and dividends (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 12345678 15
16 3 Depletion (from line 7 of your 2023 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 12345678 16
17 4 Expenses deducted on your federal return attributable to income not taxed by Minnesota 17
18 (from line 3 of 2023 Schedule M1M) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 12345678 18
19 19
20 5 Add lines 1 through 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 12345678 20
21 6 Medical and dental expense deduction (from line 9 of 2023 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 12345678 21
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23 7 Investment interest expense (from line 10 of 2023 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 12345678 23
24 8 Charitable contributions (from line 11 of 2023 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 12345678 24
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26 9 Casualty and theft losses (from line 12 of 2023 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 12345678 26
27 10 Impairment-related work expenses of a person with a disability (from line 13 of 2023 Schedule M1MT) . . . . . . . . 10 12345678 27
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29 11 State income tax refund (from line 15 of 2023 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12345678 29
30 12 Net interest or mutual fund dividends from U.S. bonds (from line 17 of 2023 Schedule M1MT) . . . . . . . . . . . . . . . 12 12345678 30
31 31
32 13 Other subtractions (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 12345678 32
33 14 Amount from line 25 of 2023 Schedule M1MT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 12345678 33
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35 15 Add lines 6 through 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 12345678 35
36 16 Subtract line 15 from line 5 (if zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 12345678 36
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38 17 Multiply line 16 by 6.75% (.0675) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 12345678 38
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40 18 Your 2023 alternative minimum tax (from line 27 of 2023 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 12345678 40
41 19 Your 2023 regular income tax (from line 28 of 2023 Schedule M1MT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 12345678 41
42 42
43 20 Subtract line 19 from line 18 (if zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 12345678 43
44 21 Subtract line 17 from line 18 (if zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 12345678 44
45 22 Compare line 21 and line 20 . 45
46 Residents: Enter the smaller of the two amounts . 46
47 Nonresidents and part-year residents: Multiply the smaller amount by line 30 of 2023 Schedule M1NR . . . . . . . 22 12345678 47
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49 23 Amount from line 29 of 2023 Schedule M1MTC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 12345678 49
50 24 Alternative minimum tax credit available for 2024. Add lines 22 and 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 12345678 50
51 Part 2 51
52 25 Regular tax for 2024 (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 12345678 52
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54 26 Alternative minimum tax for 2024 (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 12345678 54
55 55
56 27 Subtract line 26 from line 25 (if zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 12345678 56
57 28 Amount from line 24 or line 27, whichever is less. (see instructions for 2024 Schedule M1MT.) 57
58 Also enter this amount on line 18 of Schedule M1C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 12345678 58
59 Part 3 (see instructions) 59
60 29 Subtract line 28 from line 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 12345678 60
61 You must include this schedule, Schedule M1MT, and Schedule M1C when you file your Form M1. 61
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63 9995 63
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