DNAMTIDistributable Net Alternative Minimum Taxable Income
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Example 13: A simple trust having one beneficiary reports the following income and deductions for 19XX: Dividend income $100,000 Deductions: Trustee's income commissions $ 5,000 State income taxes paid on capital gains (charged to principal) 35,000 $40,000 How should the trust's DNI, DNAMTI and the related income distribution deductions for 19XX be computed?
When there is more than one beneficiary, DNAMTI is allocable among them in the same manner as income was allocated for regular income tax DNII purposes.
For AMT purposes, DNAMTI corresponds to the term "distributable net income" (DNI) used in computing the Sec.