Schedule I (Form 1041) Alternative Minimum Tax 2021, page 2 Schedule I (Form 1041) Alternative Minimum Tax 2021, page 2 Summary: This is an example of Schedule I (Form 1041) 2020, page 2. The following lines are completed. Part II: Income Distribution Deduction on a Minimum Tax Basis (continued) "43. Tentative income distribution deduction on a minimum tax basis. Subtract line 31 from line 37. If zero or less, enter 0" field contains 13,675 "44. Income distribution deduction on a minimum tax basis. Enter the smaller of line 42 or line 43. Enter here and on line 26" field contains 2,000 Part III. Alternative Minimum Tax "45. Exemption amount" field contains 23,800 "47. Phase-out of exemption amount" field contains 79,450 Part V: Line 52 Computation Using Maximum Capital Gains Rates "64. Maximum amount subject to the 0% tax" field contains 2,500
