For the latest information about developments related to Schedule I and its instructions, such as legislation enacted after they were published, go to www.irs.gov/form1041.
AMT exemption amount and phaseout. The AMT exemption amount increased to $23,500. The exemption amount begins to be phased-out at amounts over $78,250 and is completely phased-out at $172,250.
Capital gains and qualified dividends. For tax year 2014, the 20% maximum capital gains rate applies to estates and trusts with income above $12,150. The 0% and 15% rates continue to apply to certain threshold amounts. The 0% rate applies to amounts up to $2,500. The 15% rate applies to amounts over $2,500 and up to $12,150.
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