Schedule CT-1041I: Connecticut Alternative Minimum Tax Computation of Trusts or Estates (2024)
Connecticut · Connecticut DRS · Used for tax years 2024
Form CT-1041 Schedule I calculates the 2024 Connecticut alternative minimum tax for trusts and estates. It includes adjustments to federal alternative minimum taxable income and a calculation of the credit for alternative minimum tax paid to qualifying jurisdictions.
Who files this form
A trust or estate that is subject to and required to pay federal alternative minimum tax must complete Schedule CT-1041I and attach it to Form CT-1041.
For 2024, the included instructions say not to complete this schedule if Line 1 is $29,900 or less. They state that the trust or estate is not liable for either federal or Connecticut alternative minimum tax in that case.
What you'll need
Have these forms and details available, as applicable:
- The trust or estate’s name and Federal Employer ID Number (FEIN).
- Federal Form 1041 Schedule I, which supplies federal alternative minimum tax amounts used on this schedule.
- Form CT-1041, including Schedule A, for Connecticut tax and modification amounts.
- Schedule CT-1041B for fiduciary adjustments and beneficiary information.
- Schedule CT-1041C or Schedule CT-1041FA for the income calculations required for certain resident or part-year resident trusts.
- Copies of alternative minimum tax returns filed with qualifying jurisdictions if claiming a credit for tax paid to them. These copies must be attached directly after Schedule CT-1041I.
If you need more than two columns to calculate the qualifying-jurisdiction credit, create a worksheet identical to Part 3 and attach it to the back of the schedule.
How to file
Complete the schedule in blue or black ink and attach it to Form CT-1041, Connecticut Income Tax Return for Trusts and Estates. Do not use staples.
Enter the Connecticut alternative minimum tax from Line 23 on Form CT-1041, Page 1, Line 6.
If claiming a credit for alternative minimum tax paid to qualifying jurisdictions, attach copies of those returns directly after this schedule.
The supplied text does not give a mailing address or e-file instructions.
Common mistakes
- Using the wrong year’s form. The instructions warn that forms are year-specific and that using the correct year’s form helps prevent processing delays. This schedule is for 2024.
- Using staples or the wrong ink. Do not use staples. Complete the schedule in blue or black ink only.
- Counting an amount twice. Do not include amounts on Line 2 that are already included on Line 1.
- Leaving out supporting returns for a credit. The form warns that the qualifying-jurisdiction credit will be disallowed unless you attach a copy of the return filed with that jurisdiction.
- Including penalties and interest in tax paid. For the qualifying-jurisdiction credit, alternative minimum tax paid excludes penalties and interest.
Questions people ask
What does this schedule calculate?
It calculates the trust or estate’s Connecticut alternative minimum tax liability. Attach it to Form CT-1041.
Who completes Lines 5a through 5d?
Full-year or part-year resident inter vivos trusts with one or more nonresident, noncontingent beneficiaries complete these lines. All others enter the amount from Line 5 on Line 5e.
Who can claim a credit for alternative minimum tax paid to another jurisdiction?
Part 3 is available only to Connecticut resident trusts and estates and part-year resident trusts. For part-year resident trusts, the credit applies to qualifying tax attributable to the Connecticut residency portion of the year.
What is a qualifying jurisdiction?
It includes another U.S. state, a local government within another state, or the District of Columbia. It does not include Connecticut, the United States, or a foreign country or its provinces.
Where do I report the final Connecticut alternative minimum tax?
Enter the amount from Schedule CT-1041I, Line 23, on Form CT-1041, Page 1, Line 6.