NEAR FINAL DRAFT 8/1/24

                                                                                                                                                                                   *241301*
2024 Schedule M1MTC, Alternative Minimum Tax Credit

Your First Name and Initial                                                              Last Name                                                                             Social Security Number
Read the instructions before you complete this schedule.                                                                                                                  Round amounts to nearest whole dollar.
Part 1 
  1  2023 adjusted gross income (see instructions)  .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  1 
  2  2023 federally exempt interest and dividends                    instructions) (see              . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  .2. .    
  3  Depletion (from line 7 of your 2023 Schedule M1MT)                                  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . .  3 
  4  Expenses deducted on your federal return attributable to income not taxed by Minnesota 
     (from line 3 of 2023 Schedule M1M)   . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  4 
  5  Add lines 1 through 4   . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  .  5 
  6  Medical and dental expense deduction (from line 9 of 2023 Schedule M1MT)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . .  .   6 
  7  Investment interest expense (from line 10 of 2023 Schedule M1MT)   . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  .  .   7 
  8  Charitable contributions (from line 11 of 2023 Schedule M1MT)                                  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . .  .   8 
  9  Casualty and theft losses (from line 12 of 2023 Schedule M1MT)    . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . .  .   9 
 10  Impairment-related work expenses of a person with a disability (from line 13 of 2023 Schedule M1MT)                                                               . . .  . . . .  .  10 
 11  State income tax refund (from line 15 of 2023 Schedule M1MT)   . . .  . . . . . .  . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . .  .  11 
 12  Net interest or mutual fund dividends from U.S. bonds (from line 17 of 2023 Schedule M1MT)   . . . . . .  . . . . . .  . .  .  12 
 13  Other subtractions (see instructions)    . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . .  .   13 
 14  Amount from line 25 of 2023 Schedule M1MT  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  .  .  14 
 15  Add lines 6 through 14   . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . .  .   15 
 16  Subtract line 15 from line 5 (if zero or less, enter 0)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . .  .  16 

 17  Multiply line 16 by 6.75% (.0675)   . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  .  .   17 
 18  Your 2023 alternative minimum tax (from line 27 of 2023 Schedule M1MT)    . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . .  .  18 
 19  Your 2023 regular income tax (from line 28 of 2023 Schedule M1MT)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . .  .  19 
 20  Subtract line 19 from line 18 (if zero or less, enter 0)    . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  .  20 
 21  Subtract line 17 from line 18 (if zero or less, enter 0)    . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  .  21 
 22  Compare line 21 and line 20 . 
     Residents: Enter the smaller of the two amounts . 
     Nonresidents and part-year residents: Multiply the smaller amount by line 30 of 2023 Schedule M1NR   . . .  . . .  .  22 
 23  Amount from line 29 of 2023 Schedule M1MTC   . . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . .  .  23 
 24  Alternative minimum tax credit available for 2024. Add lines 22 and 23  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . .  .  24 
Part 2
 25  Regular tax for 2024 (see instructions)   . . .  . . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  .  .   25 

 26  Alternative minimum tax for 2024 (see instructions)    . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  .  .  26 

 27  Subtract line 26 from line 25 (if zero or less, enter 0)   . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . .  .  27 
 28  Amount from line 24 or line 27, whichever is less. (see instructions for 2024 Schedule M1MT.)  
     Also enter this amount on line 18 of Schedule M1C                                   . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . .  .  28 
Part 3 (see instructions)
 29  Subtract line 28 from line 24   . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . .  .   29 
You must include this schedule, Schedule M1MT, and Schedule M1C when you file your Form M1. 

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