Read the instrucons on the back before you complete this schedule.
Part 1
1 2017 federal adjusted gross income (from line 37 of your 2017 federal Form 1040) ........................... 1
2 2017 federally exempt interest and dividends (see instrucons) ........................................... 2
3 Domescproduconacviesdeduconanddepleon(add the domesc producon acvies
deducon included on line 8 of 2017 Schedule M1M and line 7 of 2017 Schedule M1MT) ...................... 3
4 ExpensesdeductedonyourfederalreturnaributabletoincomenottaxedbyMinnesota
(from line 9 of 2017 Schedule M1M) .................................................................. 4
5 Add lines 1 through 4 .............................................................................. 5
6 Medicalanddentalexpensededucon(from line 9 of 2017 Schedule M1MT) ....... 6
7 Investment interest expense (from line 10 of 2017 Schedule M1MT) ............... 7
8 Charitablecontribuons(from line 11 of 2017 Schedule M1MT) .................. 8
9 Casualtyandthelosses(from line 12 of 2017 Schedule M1MT) .................. 9
10 Impairment-relatedworkexpensesofadisabledperson
(from line 13 of 2017 Schedule M1MT) ...................................... 10
11 State income tax refund (from line 14 of 2017 Schedule M1MT) .................. 11
12 NetinterestormutualfunddividendsfromU.S.bonds
(from line 16 of 2017 Schedule M1MT) ...................................... 12
13 Othersubtracons(see instrucons) ........................................ 13
14 Exempon (from line 25 of 2017 Schedule M1MT) ............................. 14
15 Add lines 6 through 14 ........................................................................... 15
16 Subtractline15fromline5(if less than zero, enter 0) .................................................. 16
17 Mulplyline16by6.75%(.0675) .................................................................. 17
18 Your2017alternaveminimumtax (from line 27 of 2017 Schedule M1MT) ................................ 18
19 Your 2017 regular income tax (from line 28 of 2017 Schedule M1MT) ..................................... 19
20 Subtractline19fromline18(if less than zero, enter 0) ................................................. 20
21 Subtractline17fromline18(if less than zero, enter 0) ................................................. 21
22 Compare line 21 and line 20. Residents: Enter the smaller of the two amounts.
Nonresidents and part-year residents:Mulplythesmalleramount
byline25of2017ScheduleM1NR ................................................................. 22
23 Amountfromline29of2017ScheduleM1MTC ...................................................... 23
24 Alternaveminimumtaxcreditavailablefor2018.Addlines22and23 ................................... 24
Part 2
25Regulartaxfor2018(see instrucons) ............................................................... 25
26Alternaveminimumtaxfor2018(see instrucons) .................................................... 26
27Subtractline26fromline25(if less than zero, enter 0) ................................................. 27
28 Amount from line 24 or line 27, whichever is less. (Read instrucons for 2018 Schedule M1MT.)
Alsoenterthisamountonline11ofScheduleM1C .................................................... 28
Part 3 (see instrucons)
29Subtractline28fromline24 ....................................................................... 29
You must include this schedule, Schedule M1MT and Schedule M1C when you le your 2018 Form M1.
2018 Schedule M1MTC, Alternave Minimum Tax Credit
Your First Name and Inial Last Name Social Security Number
Round amounts to the
nearest whole dollar.
9995
*181301*
If you did not pay the
Minnesota alternave
minimum tax in prior years,
you are not eligible for this
credit.
Should I le Schedule M1MTC?
If you paid Minnesota alternative mini-
mum tax (AMT) in prior years, but are not
required to pay it in 2018, you may qualify
for a nonrefundable credit for 2018 or later
years by completing Schedule M1MTC.
File the schedule with your 2018 Form M1.
You may be eligible for this credit if:
on your 2017 Schedule M1MT, line 27 is
more than line 28, and the liability is at
least partly due to timing items; or
you have an amount on line 29 of your
2017 Schedule M1MTC.
If you paid Minnesota alternative minimum
tax in one or more years from 1989 through
2017, but did not complete a Schedule
M1MTC, complete the form to determine
any carryover.
Timing and Exclusion Items
The Minnesota alternative minimum tax is
attributable to two types of adjustments and
preferences — timing items and exclusion
items.
Generally, ming items do not cause a
permanent difference in taxable income
over time. The minimum tax credit is only
generated by the alternative minimum tax
attributable to timing adjustments and pref-
erences, such as accelerated depreciation,
intangible drilling costs preference, exercise
of incentive stock options, etc.
Exclusion items, such as personal exemp-
tions or any itemized deduction not allowed
for alternative minimum tax purposes (e.g.
gambling losses, home mortgage interest,
taxes or miscellaneous itemized deductions)
do cause a permanent difference in taxable
income for regular tax vs. alternative mini-
mum tax purposes. The minimum tax credit
is not generated by the alternative mini-
mum tax attributable to exclusion items.
Line Instrucons
Part 1 is used to determine the minimum
tax credit generated by Minnesota alterna-
tive minimum tax paid for 2017. Part 2 is
used to calculate how much, if any, of that
credit can be used in 2018. Part 3 is used to
determine any minimum tax credit that you
can carry forward.
You will not be able to complete Parts 2
and 3 until you determine your 2018 tax
liability. Complete a 2018 Schedule M1MT,
Alternative Minimum Tax, before complet-
ing this schedule.
Round amounts to the nearest whole dollar.
Part 1
If line 13 and lines 16–27 of your 2017 fed-
eral Form 6251 are blank, skip lines 1–23
of this schedule, and start with line 24. All
line references for Part 1 are to your 2017
Minnesota and federal tax forms.
Line 2
Enter the amount of:
federally exempt interest and dividends
from obligations of other states from
lines 3 and 4 of your 2017 Schedule
M1M; and
tax-exempt interest from Minnesota pri-
vate activity bonds issued after August 7,
1986, included on line 12 of your 2017
federal Form 6251.
Line 4
If you deducted interest or other expenses
on your 2017 federal return which were
attributable to income not taxed by Min-
nesota, enter the amount from line 9 of your
2017 Schedule M1M.
Line 13
Enter the amount from line 18 (other sub-
tractions) of your 2017 Schedule M1MT.
However, do not include any NOL subtrac-
tion that may have been included on line 18
of your 2017 Schedule M1MT.
Part 2
Lines 25–28
If you are not subject to the AMT for 2018,
you may be eligible for the credit in 2018.
However, you must complete and le the
2018 Schedule M1MT to determine the
credit.
If you are subject to the AMT for 2018, skip
Part 2. You may not take the credit in 2018.
Line 25
Full-year residents: Enter the amount from
line 28 of 2018 Schedule M1MT.
Part-year residents and nonresidents:
Multiply line 28 of 2018 Schedule M1MT
by line 26 of 2018 Schedule M1NR.
All taxpayers: Reduce the result from above
by lines 16 through 18 of Form M1 and
lines 1 through 9 of Schedule M1C.
Line 26
Full-year residents: Enter the amount from
line 27 of 2018 Schedule M1MT.
Part-year residents and nonresidents:
Multiply line 27 of 2018 Schedule M1MT
by line 26 of 2018 Schedule M1NR.
This line cannot be less than zero.
All taxpayers: Reduce the result from above
by lines lines 16, 17, and 18 of Form M1,
and lines 1 through 10 of Schedule M1C.
Line 28
Enter the amount from line 24 or line 27,
whichever is less. Also enter this amount on
line 11 of Schedule M1C, Other Nonrefund-
able Credits.
This is your 2018 Minnesota alternative
minimum tax credit.
Part 3
Line 29
If you were subject to the Minnesota alter-
native minimum tax for 2018 and did not
have to complete Part 2, enter the amount
from line 24.
You may carry forward any unused portion
of your minimum tax credit. If you have a
carryforward, include Schedule M1MTC
when you le your 2018 Form M1, even
if you could not use any of the credit for
2018.
Save copies of the schedule until you
have claimed the entire credit. The 2019
Schedule M1MTC will have a line for this
amount.
2018 Schedule M1MTC Instrucons