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NEAR FINAL DRAFT 8/1/24
*241851*
2024 Schedule M1MT, Alternative Minimum Tax
Your First Name and Initial Last Name Social Security Number
Before you complete this schedule, read the instructions on the next page. Round amounts to the nearest whole dollar.
1 Federal adjusted gross income (from line 1 of Form M1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
2 Other adjustments and preferences from federal Form 6251 (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
3 This line
intentionally left blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
4 Other additions from Schedule M1MB (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
5 State and municipal bond interest from outside Minnesota (determine from worksheet in instructions) . . . . . . . . . 5
6 Intangible drilling costs (determine from instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
7 Depletion (determine from instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
8 Add lines 1 through 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
9 Medical and dental expense deduction (from line 4 of Schedule M1SA) . . . . . . . . . . . . 9
10 Investment interest expense (from line 13 of Schedule M1SA) . . . . . . . . . . . . . . . . . . 10
11 Charitable contributions (from line 18 of Schedule M1SA) . . . . . . . . . . . . . . . . . . . . . . 11
12 Casualty and theft losses (from line 19 of Schedule M1SA) . . . . . . . . . . . . . . . . . . . . . 12
13 Impairment-related work expenses of a person with a disability
(included on line 24 of Schedule M1SA) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
14 Unreimbursed employee business expenses (from line 23 of Schedule M1SA) . . . . . 14
15 State income tax refund (from line 1 of federal Schedule 1) . . . . . . . . . . . . . . . . . . . . . 15
16 Federal bonus depreciation subtraction (from line 10 of Schedule M1MB) . . . . . . . . 16
17 Net interest or mutual fund dividends from U.S. bonds
(from line 14 of Schedule M1M) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
18 Other subtractions from Schedules M1M and M1MB
(see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
19 Add lines 9 through 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
20 Subtract line 19 from line 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
21 If Married Filing Jointly or Qualifying Surviving Spouse: enter $92,710
If Married Filing Separately: enter $46,360
If Single or Head of Household: enter $69,530 . . . . . . . . . . . . . . . . . . . . . . . . . . 21
22 If Married Filing Jointly or Qualifying Surviving Spouse: enter $150,000
If Married Filing Separately: enter $ 75,000
If Single or Head of Household: enter $112,500 . . . . . . . . . . . . . . . . . . . . . . . . . . 22
23 Subtract line 22 from line 20 (if zero or less, enter 0) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
24 Multiply line 23 by 25% (.25) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
25 Subtract line 24 from line 21 (if zero or less, enter 0)) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
26 Subtract line 25 from line 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
27 Multiply line 26 by 6.75% (.0675) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
28 Tax from the table (from line 10 of Form M1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
29 If line 27 is more than line 28, you must pay Minnesota alternative minimum tax. Subtract line 28 from line 27.
Enter the result here and on line 11 of Form M1. (If line 28 is more than line 27, see instructions) . . . . . . . . . . . . . 29
Include this schedule and a copy of federal Form 6251 when you file your Form M1.
99959995
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