-
TIN:
Form
990-T
Department of the Treasury
Internal Revenue Service
Exempt Organization Business Income Tax Return
(and proxy tax under section 6033(e))
For calendar year 2020 or other tax year beginning
07-01-2020
and ending
06-30-2021
►Go to
www.irs.gov/Form990T
for instructions and the latest information.
►Do not enter SSN numbers on this form as it may be made public if your organization is a 501(c)(3).
OMB No. 1545-0047
20
20
Open to Public Inspection for 501(c)(3) Organizations Only
A
Check box if address changed.
B
Exempt under section
501(
c3
)
408(e)
220(e)
408A
530(a)
529(a)
529A
Print or Type
Name of organization (
Check box if name changed and see instructions.)
MASSACHUSETTS INSTITUTE OF TECHNOLOGY
WELFARE BENEFIT PLANS TRUST
Number, street, and room or suite no. If a P.O. box, see instructions.
77 MASSACHUSETTS AVENUE NE49-3142
City or town, state or province, and ZIP or foreign postal code
CAMBRIDGE
,
MA
02139
C
Book value of all assets at end of year
.....►
1,112,555,000
D
Employer identification number
04-3177556
E
Group exemption number
(see instructions)
F
Check box if an amended return.
G
Check organization type ►
501(c) corporation
501(c) trust
401(a) trust
Other trust
Applicable reinsurance entity
H
Check if filing only to ►
Claim credit from Form 8941
Claim a refund shown on Form 2439
I
Check if a 501(c)(3) organization filing a consolidated return with a 501(c)(2) titleholding corporation
.........►
J
Enter the number of attached Schedules A (Form 990-T)
...............►
1
K
During the tax year, was the corporation a subsidiary in an affiliated group or a parent-subsidiary controlled group?
...►
Yes
No
If "Yes," enter the name and identifying number of the parent corporation ►
L
The books are in care of ►
JOHN DONNELLY
77 MASSACHUSETTS AVENUE
NE49-3142
CAMBRIDGE
,
MA
02139
Telephone number ►
(617) 253-2734
Part I
Total Unrelated Business Taxable Income
1
Total of unrelated business taxable income computed from all unrelated trades or businesses (see instructions)
..............................
1
-296,646
2
Reserved
..............................
2
3
Add lines 1 and 2
............................
3
-296,646
4
Charitable contributions (see instructions for limitation rules)
..............
4
0
5
Total unrelated business taxable income before net operating losses. Subtract line 4 from line 3
....
5
-296,646
6
Deduction for net operating loss. See instructions
.................
6
7
Total of unrelated business taxable income before specific deduction and section 199A deduction.
Subtract line 6 from line 5
.........................
7
-296,646
8
Specific deduction (generally $1,000, but see instructions for exceptions)
..........
8
9
Trusts.
Section 199A deduction. See instructions
.................
9
10
Total deductions.
Add lines 8 and 9
......................
10
11
Unrelated business taxable income.
Subtract line 10 from line 7. If line 10 is greater than line 7, enter zero
................................
11
0
Part II
Tax Computation
1
Organizations taxable as corporations.
Multiply Part I, line 11 by 21% (0.21)
.......►
1
2
Trusts taxable at trust rates.
See instructions for tax computation. Income tax on the amount on
Part I, line 11 from:
Tax rate schedule or
Schedule D (Form 1041)
........►
2
0
3
Proxy tax.
See instructions
.......................►
3
4
Other tax amounts. See instructions
....................
4
5
Alternative minimum tax (trusts only)
.....................
5
6
Tax on noncompliant facility income.
See instructions
................
6
7
Total.
Add lines 3 through 6 to line 1 or 2, whichever applies
...............
7
0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11291J
Form
990-T
(2020)
Form 990-T (2020)
Page
2
Part III
Tax and Payments
1a
Foreign tax credit (corporations attach Form 1118; trusts attach Form 1116)
1a
b
Other credits (see instructions)
..............
1b
c
General business credit. Attach Form 3800 (see instructions)
.....
1c
d
Credit for prior year minimum tax (attach Form 8801 or 8827)
....
1d
e
Total credits.
Add lines 1a through 1d
.....................
1e
2
Subtract line 1e from Part II, line 7
.....................
2
0
3
Other taxes. Check if from:
Form 4255
Form 8611
Form 8697
Form 8866
Other (attach statement)
...............
3
4
Total tax.
Add lines 2 and 3 (see instructions).
Check if includes tax previously deferred under
section 1294. Enter the tax amount here
4
0
5
2020 net 965 tax liability paid from Form 965-A or Form 965-B, Part II, column (k), line 4
.....
5
6a
Payments: A 2019 overpayment credited to 2020
........
6a
32,249
b
2020 estimated tax payments. Check if section 643(g) election applies ►
6b
c
Tax deposited with Form 8868
..............
6c
d
Foreign organizations: Tax paid or withheld at source (see instructions)
.
6d
e
Backup withholding (see instructions)
............
6e
f
Credit for small employer health insurance premiums (attach Form 8941)
.
6f
g
Other credits, adjustments, and payments:
Form 2439
Form 4136
Other
Total ►
6g
7
Total payments.
Add lines 6a through 6g
.....................
7
32,249
8
Estimated tax penalty (see instructions). Check if Form 2220 is attached
........
►
8
9
Tax due.
If line 7 is smaller than the total of lines 4, 5, and 8, enter amount owed
.......►
9
10
Overpayment.
If line 7 is larger than the total of lines 4, 5, and 8, enter amount overpaid
....►
10
32,249
11
Enter the amount of line 10 you want:
Credited to 2021 estimated tax
►
32,249
Refunded
►
11
Part IV
Statements Regarding Certain Activities and Other Information
(see instructions)
1
At any time during the 2020 calendar year, did the organization have an interest in or a signature or other authority over a financial account (bank, securities, or other) in a foreign country? If "Yes," the organization may have to file FinCEN Form 114, Report of Foreign Bank and Financial Accounts. If "Yes," enter the name of the foreign country here ►
Yes
No
No
2
During the tax year, did the organization receive a distribution from, or was it the grantor of, or transferor to, a foreign trust?
No
If "Yes," see instructions for other forms the organization may have to file.
3
Enter the amount of tax-exempt interest received or accrued during the tax year
.....
► $
359
4a
Did the organization change its method of accounting? (see instructions)
.................
No
4b
If 4a is "Yes," has the organization described the change on Form 990, 990-EZ, 990-PF, or Form 1128? If "No," explain in Part V
Part V
Supplemental Information
Provide the explanation required by Part IV, line 4b. Also, provide any other addtional information. See instructions.
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Signature of officer
Date
Title
May the IRS discuss this return with the preparer shown below (see instructions)?
Yes
No
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
Check
if
self-employed
PTIN
Firm's name
Firm's EIN
Firm's address
Phone no.
Form
990-T
(2020)
Additional Data
Software ID:
Software Version:
-
TIN:
SCHEDULE A
(Form 990-T)
Department of the Treasury
Internal Revenue Service
Unrelated Business Taxable Income
From an Unrelated Trade or Business
►Go to
www.irs.gov/Form990T
for instructions and the latest information.
►Do not enter SSN numbers on this form as it may be made public if your organization is a 501(c)(3).
OMB No. 1545-0047
20
20
Open to Public Inspection for 501(c)(3) Organizations Only
A
Name of the organization
MASSACHUSETTS INSTITUTE OF TECHNOLOGY
WELFARE BENEFIT PLANS TRUST
B
Employer identification number
04-3177556
C
Unrelated business activity code (see instructions) ►
901101
D
Sequence:
1
of
1
E
Describe the unrelated trade or business ►
INVESTMENTS IN LIMITED PARTNERSHIPS
Part I
Unrelated Trade or Business Income
(A) Income
(B) Expenses
(C) Net
1a
Gross receipts or sales
b
Less returns and allowances
c
Balance ►
1c
2
Cost of goods sold (Part III, line 8)
.........
2
3
Gross profit. Subtract line 2 from line 1c
.......
3
4a
Capital gain net income (attach Sch D (Form 1041 or Form
1120)) (see instructions)
............
4a
129,710
129,710
b
Net gain (loss) (Form 4797) (attach Form 4797)
(see instructions)
4b
117,244
117,244
c
Capital loss deduction for trusts
4c
5
Income (loss) from a partnership or an S corporation (attach statement)
................
5
-99,941
-99,941
6
Rent income (Part IV)
.............
6
7
Unrelated debt-financed income (Part V)
.......
7
8
Interest, annuities, royalties, and rents from a controlled
organization (Part VI)
.............
8
9
Investment income of section 501(c)(7), (9), or (17)
organizations (Part VII)
............
9
10
Exploited exempt activity income (Part VIII)
......
10
11
Advertising income (Part IX)
...........
11
12
Other income (see instructions; attach statement)
....
12
13,219
13,219
13
Total.
Combine lines 3 through 12
.........
13
160,232
0
160,232
Part II
Deductions Not Taken Elsewhere
(See instructions for limitations on deductions) Deductions must be directly connected with the unrelated business income
1
Compensation of officers, directors, and trustees (Part X)
.................
1
2
Salaries and wages
............................
2
3
Repairs and maintenance
..........................
3
4
Bad debts
...............................
4
5
Interest (attach statement) (see instructions)
...................
5
0
6
Taxes and licenses
.............................
6
32,112
7
Depreciation (attach Form 4562) (see instructions)
.........
7
8
Less depreciation claimed in Part III and elsewhere on return
.....
8a
8b
9
Depletion
...............................
9
10
Contributions to deferred compensation plans
.....................
10
11
Employee benefit programs
..........................
11
12
Excess exempt expenses (Part VIII)
.......................
12
13
Excess readership costs (Part IX)
........................
13
14
Other deductions (attach statement)
......................
14
424,766
15
Total deductions.
Add lines 1 through 14
.....................
15
456,878
16
Unrelated business income before net operating loss deduction. Subtract line 15 from Part I, line 13, column (C)
16
-296,646
17
Deduction for net operating loss (see instructions)
..................
17
18
Unrelated business taxable income.
Subtract line 17 from line 16
.............
18
-296,646
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 74036O
Schedule A (Form 990-T) 2020
Schedule A (Form 990-T) 2020
Page
2
Part III
Cost of Goods Sold
Enter method of inventory valuation ►
1
Inventory at beginning of year
........................
1
2
Purchases
...............................
2
3
Cost of labor
..............................
3
4
Additional section 263A costs (attach statement)
..................
4
5
Other costs (attach statement)
........................
5
6
Total.
Add lines 1 through 5
..........................
6
7
Inventory at end of year
...........................
7
8
Cost of goods sold.
Subtract line 7 from line 6. Enter here and in Part I, line 2
..........
8
9
Do the rules of section 263A (with respect to property produced or acquired for resale) apply to the organization?
Yes
No
Part IV
Rent Income (From Real Property and Personal Property Leased with Real Property)
1
Description of property (property street address, city, state, ZIP code). Check if a dual-use (see instructions)
A
B
C
D
A
B
C
D
2
Rent received or accrued
a
From personal property (if the percentage of rent for personal property is more than 10% but not more than 50%)
......
b
From real and personal property (if the percentage of rent for personal property exceeds 50% or if the rent is based on profit or income)
..........
c
Total rents received or accrued by property. Add lines 2a and 2b, columns A through D
.
3
Total rents received or accrued. Add line 2c columns A through D. Enter here and on Part I, line 6, column (A)
.►
4
Deductions directly connected with the income in lines 2(a) and 2(b) (attach statement)
.
5
Total deductions.
Add line 4 columns A through D. Enter here and on Part I, line 6, column (B)
.....►
Part V
Unrelated Debt-Financed Income
(see instructions)
1
Description of debt-financed property (street address, city, state, ZIP code). Check if a dual-use (see instructions)
A
B
C
D
A
B
C
D
2
Gross income from or allocable to debt-financed property
........
3
Deductions directly connected with or allocable to debt-financed property
a
Straight line depreciation (attach statement)
b
Other deductions (attach statement)
...
c
Total deductions (add lines 3a and 3b, columns A through D)
..........
4
Amount of average acquisition debt on or allocable to debt-financed property (attach statement)
...........
5
Average adjusted basis of or allocable to debt-financed property (attach statement)
...
6
Divide line 4 by line 5
.......
%
%
%
%
7
Gross income reportable. Multiply line 2 by line 6
8
Total gross income
(add line 7, columns A through D). Enter here and on Part I, line 7, column (A)
....►
9
Allocable deductions. Multiply line 3c by line 6
10
Total allocable deductions.
Add line 9, columns A through D. Enter here and on Part I, line 7, column (B)
..►
11
Total dividends-received deductions
included in line 10
.................►
Schedule A (Form 990-T) 2020
Schedule A (Form 990-T) 2020
Page
3
Part VI
Interest, Annuities, Royalties, and Rents from Controlled Organizations
(see instructions)
1.
Name of controlled organization
2.
Employer identification number
Exempt Controlled Organizations
3.
Net unrelated income (loss)
(see instructions)
4.
Total of specified payments made
5.
Part of column 4 that is included
in the controlling organization's
gross income
6.
Deductions directly connected with income in column 5
(1)
(2)
(3)
(4)
Nonexempt Controlled Organizations
7.
Taxable income
8.
Net unrelated
income (loss)
(see instructions)
9.
Total of specified payments made
10.
Part of column 9
that is included in the
controlling organization's
gross income
11.
Deductions directly connected with
income in column 10
(1)
(2)
(3)
(4)
Add columns 5 and 10.
Enter here and on Part I,
line 8, column (A)
Add columns 6 and 11.
Enter here and on Part I,
line 8, column (B)
Totals
.........................►
Part VII
Investment Income of a Section 501(c)(7), (9), or (17) Organization
(see instructions)
1.
Description of income
2.
Amount of income
3.
Deductions directly connected
(attach statement)
4.
Set-asides
(attach statement)
5. Total deductions and set-asides
(add columns 3 and 4)
(1)
(2)
(3)
(4)
Totals
.........►
Add amounts in column 2.
Enter here and on Part I,
line 9, column (A)
Add amounts in column 5.
Enter here and on Part I,
line 9, column (B)
Part VIII
Exploited Exempt Activity Income, Other Than Advertising Income
(see instructions)
1
Description of exploited activity:
2
Gross unrelated business income from trade or business. Enter here and on Part I, line 10, column (A)
...
2
3
Expenses directly connected with production of unrelated business income. Enter here and on Part I, line 10, column (B)
...............................
3
4
Net income (loss) from unrelated trade or business. Subtract line 3 from line 2. If a gain, complete
lines 5 through 7
.............................
4
5
Gross income from activity that is not unrelated business income
..............
5
6
Expenses attributable to income entered on line 5
...................
6
7
Excess exempt expenses. Subtract line 5 from line 6, but do not enter more than the amount on line 4. Enter here and on Part II, line 12
..........................
7
Schedule A (Form 990-T) 2020
Schedule A (Form 990-T) 2020
Page
4
Part IX
Advertising Income
1
Name(s) of periodical(s). Check box if reporting two or more periodicals on a consolidated basis.
A
B
C
D
Enter amounts for each periodical listed above in the corresponding column.
A
B
C
D
2
Gross advertising income
......
a
Add columns A through D. Enter here and on Part I, line 11, column (A)
.............►
3
Direct Advertising costs by periodical
..
a
Add columns A through D. Enter here and on Part I, line 11, column (B)
.............►
4
Advertising gain (loss). Subtract line 3 from line 2. For any column in line 4 showing a gain, complete lines 5 through 8. For any column in line 4 showing a loss or zero, do not complete lines 5 through 7, and enter zero on line 8
............
5
Readership costs
........
6
Circulation income
........
7
Excess readership costs. If line 6 is less than line 5, subtract line 6 from line 5. If line 5 is less than line 6, enter zero
.....
8
Excess readership costs allowed as a deduction. For each column showing a gain on line 4, enter the lesser of line 4 or line 7
.
a
Add line 8, columns A through D. Enter the greater of the columns total or zero here and on Part II, line 13
..►
Part X
Compensation of Officers, Directors, and Trustees
(see instructions)
1.
Name
2.
Title
3.
Percentage
of time devoted
to business
4.
Compensation
attributable to
unrelated business
(1)
(2)
(3)
(4)
Total.
Enter here and on Part II, line 1
.........................►
Part XI
Supplemental Information
(see instructions)
Schedule A (Form 990-T) 2020
Additional Data
Software ID:
Software Version:
-
TIN:
SCHEDULE D
(Form 1041)
Department of the Treasury
Internal Revenue Service
Capital Gains and Losses
Attach to Form 1041, Form 5227, or Form 990-T.
Use Form 8949 to list your transactions for lines 1b, 2, 3, 8b, 9, and 10.
Go to
www.irs.gov/F1041
for instructions and the lastest information.
OMB No. 1545-0092
20
20
Name of estate or trust
MASSACHUSETTS INSTITUTE OF TECHNOLOGY
WELFARE BENEFIT PLANS TRUST
Employer identification number
04-3177556
Note:
Form 5227 filers need to complete
only
Parts I and II.
Did you dispose of any investment(s) in a qualified opportunity fund during the tax year?
Yes.
No.
If "Yes",attach Form 8949 and see its instructions for additional requirements for reporting your gain or loss.
Part I
Short-Term Capital Gains and LossesAssets Held One Year or Less (see instructions)
See instructions for how to figure the amounts to enter on the lines below.
This form may be easier to complete if you round off cents to whole dollars.
(d)
Proceeds
(sales price)
(e)
Cost
(or other basis)
(g)
Adjustments to gain or loss from Form(s) 8949, Part I, line 2, column (g)
(h)
Gain or (loss)
Subtract column (e) from column (d) and combine the result with column (g)
1a
Totals for all short-term transactions reported
on Form 1099-B for which basis was reported
to the IRS and for which you have no
adjustments (see instructions). However, if
you choose to report all these transactions
on Form 8949, leave this line blank and go
to line 1b
...........
1b
Totals for all transactions reported on Form(s) 8949
with
Box A
checked
.........
2
Totals for all transactions reported on Form(s) 8949
with
Box B
checked
.........
3
Totals for all transactions reported on Form(s) 8949
with
Box C
checked
.........
4
Short-term capital gain or (loss) from Forms 4684, 6252, 6781, and 8824
..........
4
5
Net short-term gain or (loss) from partnerships, S corporations, and other estates or trusts
....
5
8,402
6
Short-term capital loss carryover. Enter the amount, if any, from line 9 of the 2019 Capital Loss
Carryover Worksheet
...........................
6
(
)
7
Net short-term capital gain or (loss).
Combine lines 1a through 6 in column (h). Enter here and on line
17, column (3) on the back
........................
7
8,402
Part II
Long-Term Capital Gains and LossesAssets Held More Than One Year (see instructions)
See instructions for how to figure the amounts to enter on the lines below.
This form may be easier to complete if you round off cents to whole dollars.
(d)
Proceeds
(sales price)
(e)
Cost
(or other basis)
(g)
Adjustments to gain or loss from Form(s) 8949, Part II, line 2, column (g)
(h)
Gain or (loss)
Subtract column (e) from column (d) and combine the result with column (g)
8a
Totals for all long-term transactions reported
on Form 1099-B for which basis was reported
to the IRS and for which you have no
adjustments (see instructions). However, if
you choose to report all these transactions
on Form 8949, leave this line blank and go
to line 8b
...........
8b
Totals for all transactions reported on Form(s) 8949
with
Box D
checked
.........
9
Totals for all transactions reported on Form(s) 8949
with
Box E
checked
.........
10
Totals for all transactions reported on Form(s) 8949
with
Box F
checked
.........
11
Long-term capital gain or (loss) from Forms 2439, 4684, 6252, 6781, and 8824
........
11
12
Net long-term gain or (loss) from partnerships, S corporations, and other estates or trusts
.....
12
121,308
13
Capital gain distributions
..........................
13
14
Gain from Form 4797, Part I
.........................
14
15
Long-term capital loss carryover. Enter the amount, if any, from line 14 of the 2019 Capital Loss
Carryover Worksheet
...........................
15
(
)
16
Net long-term capital gain or (loss).
Combine lines 8a through 15 in column (h). Enter here and on line
18a, column (3) on the back
......................
16
121,308
For Paperwork Reduction Act Notice, see the Instructions for Form 1041.
Cat. No. 11376V
Schedule D (Form 1041) 2020
Schedule D (Form 1041) 2020
Page
2
Part III
Summary of Parts I and II
Caution:
Read the instructions
before
completing this part.
(1)
Beneficiaries’
(see instr.)
(2)
Estate’s
or trust’s
(3)
Total
17
Net short-term gain or (loss)
........
17
8,402
8,402
18
Net long-term gain or (loss):
a
Total for year
..............
18a
121,308
121,308
b
Unrecaptured section 1250 gain (see line 18 of the
wrksht.)
...............
18b
c
28% rate gain
..............
18c
19
Total net gain or (loss).
Combine lines 17 and 18a
19
129,710
129,710
Note:
If line 19, column (3), is a net gain, enter the gain on Form 1041, line 4 (or Schedule A (Form 990-T), Part I, line 4a). If lines 18a and 19, column (2), are net gains, go to Part V, and
don't
complete Part IV. If line 19, column (3), is a net loss, complete Part IV and the
Capital Loss Carryover Worksheet,
as necessary.
Part IV
Capital Loss Limitation
20
Enter here and enter as a (loss) on Form 1041, line 4 (or Schedule A (Form 990-T), Part I, line 4c, if a trust), the
smaller
of:
a
The loss on line 19, column (3)
or b
$3,000
....................
20
(
)
Note:
If the loss on line 19, column (3), is more than $3,000,
or
if Form 1041, page 1, line 23 (or Form 990-T, Part I, line 11), is a loss, complete the
Capital Loss Carryover Worksheet
in the instructions to figure your capital loss carryover.
Part V
Tax Computation Using Maximum Capital Gains Rates
Form 1041 filers.
Complete this part
only
if both lines 18a and 19 in column (2) are gains, or an amount is entered in Part I or Part II and there is an entry on Form 1041, line 2b(2),
and
Form 1041, line 23, is more than zero.
Caution:
Skip this part and complete the
Schedule D Tax Worksheet
in the instructions if:
•
Either line 18b, col. (2) or line 18c, col. (2) is more than zero, or
•
Both Form 1041, line 2b(1), and Form 4952, line 4g are more than zero.
Form 990-T trusts.
Complete this part
only
if both lines 18a and 19 are gains, or qualified dividends are included in income in Part I of Form 990-T,
and
Form 990-T, Part I, line 11, is more than zero. Skip this part and complete the
Schedule D Tax Worksheet
in the instructions if either line 18b, col. (2) or line 18c, col. (2) is more than zero.
21
Enter taxable income from Form 1041, line 23 (or Form 990-T, Part I, line 11)
.
21
0
22
Enter the
smaller
of line 18a or 19 in
column (2) but not less than zero
...
22
121,308
23
Enter the estate’s or trust’s qualified
dividends from Form 1041, line 2b(2) (or
enter the qualified dividends included in
income in Part I of Form 990-T)
....
23
781
24
Add lines 22 and 23
.......
24
122,089
25
If the estate or trust is filing Form 4952,
enter the amount from line 4g; otherwise,
enter -0-
..........
25
26
Subtract line 25 from line 24. If zero or less, enter -0-
......
26
122,089
27
Subtract line 26 from line 21. If zero or less, enter -0-
......
27
0
28
Enter the
smaller
of the amount on line 21 or $2,650
.......
28
0
29
Enter the
smaller
of the amount on line 27 or line 28
.......
29
0
30
Subtract line 29 from line 28. If zero or less, enter -0-. This amount is taxed at 0%
......
30
0
31
Enter the
smaller
of line 21 or line 26
............
31
0
32
Subtract line 30 from line 26
...............
32
122,089
33
Enter the
smaller
of line 21 or $13,150
...........
33
0
34
Add lines 27 and 30
.................
34
0
35
Subtract line 34 from line 33. If zero or less, enter -0-
......
35
0
36
Enter the
smaller
of line 32 or line 35
...........
36
0
37
Multiply line 36 by 15% (0.15)
.......................
37
0
38
Enter the amount from line 31
..............
38
0
39
Add lines 30 and 36
.................
39
0
40
Subtract line 39 from line 38. If zero or less, enter -0-
......
40
0
41
Multiply line 40 by 20% (0.20)
.......................
41
0
42
Figure the tax on the amount on line 27. Use the 2020 Tax Rate Schedule
for Estates and Trusts (see the Schedule G instructions in the instructions
for Form 1041)
...................
42
43
Add lines 37, 41, and 42
................
43
0
44
Figure the tax on the amount on line 21. Use the 2020 Tax Rate Schedule
for Estates and Trusts (see the Schedule G instructions in the instructions
for Form 1041)
...................
44
45
Tax on all taxable income.
Enter the
smaller
of line 43 or line 44 here and on Form 1041, Schedule G,
Part I, line 1a (or Form 990-T, Part II, line 2)
..................
45
Schedule D (Form 1041) 2020
Additional Data
Software ID:
Software Version:
-
TIN:
Form
8801
Department of the Treasury
Internal Revenue Service (99)
Credit for Prior Year Minimum Tax—
Individuals, Estates, and Trusts
Go to
www.irs.gov/Form8801
for instructions and the latest information.
Attach to Form 1040, 1040-SR, 1040-NR, or 1041.
OMB No. 1545-1073
20
20
Attachment
Sequence No.
801
Name(s) shown on return
Identifying number
04-3177556
Part I
Net Minimum Tax on Exclusion Items
1
Combine lines 1, and 2e of your 2019 Form 6251. Estates and trusts, see instructions
....
1
0
2
Enter adjustments and preferences treated as exclusion items (see instructions)
.......
2
0
3
Minimum tax credit net operating loss deduction (see instructions)
...........
3
(
0
)
4
Combine lines 1, 2, and 3. If zero or less, enter -0- here and on line 15 and go to Part II. If more than $733,700 and you were married filing separately for 2019, see instructions
........
4
5,619
5
Enter: $111,700 if married filing jointly or qualifying widow(er) for 2019; $71,700 if single or head of household for 2019; or $55,850 if married filing separately for 2019. Estates and trusts, enter $25,000
5
25,000
6
Enter: $1,020,600 if married filing jointly or qualifying widow(er) for 2019; $510,300 if single, head
of household, or married filing separately for 2019; Estates and trusts, enter $83,500
.....
6
83,500
7
Subtract line 6 from line 4. If zero or less, enter -0- here and on line 8 and go to line 9
.....
7
8
Multiply line 7 by 25% (0.25)
.......................
8
9
Subtract line 8 from line 5. If zero or less, enter -0-.
9
10
Subtract line 9 from line 4. If zero or less, enter -0- here and on line 15 and go to Part II. Form 1040-NR filers, see instructions
.........................
10
5,619
11
•
If
for 2019
you filed Form 2555, see instructions for the amount to enter.
•
If
for 2019
you reported capital gain distributions directly on Form 1040 or 1040-SR, line 6; you reported qualified dividends on Form 1040 or 1040-SR, line 3a (Form 1041, line 2b(2));
or
you had a gain on both lines 15 and 16 of Schedule D (Form 1040 or 1040-SR) (lines 18a and 19, column (2), of Schedule D (Form 1041)), complete Part III of Form 8801 and enter the amount from line 55 here. Form 1040-NR filers, see instructions.
•
All others:
If line 10 is $194,800 or less ($97,400 or less if married filing separately for
(2019), multiply line 10 by 26% (0.26). Otherwise, multiply line 10 by 28% (0.28) and
subtract $3,896 ($1,948 if married filing separately for 2019) from the result. Form
1040-NR filers, see instructions.
11
445
12
Minimum tax foreign tax credit on exclusion items (see instructions)
...........
12
13
Tentative minimum tax on exclusion items. Subtract line 12 from line 11
.........
13
445
14
Enter the amount from your 2019 Form 6251, line 10, or 2019 Form 1041, Schedule I, line 53
..
14
1,171
15
Net minimum tax on exclusion items.
Subtract line 14 from line 13. If zero or less, enter -0-
..
15
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 10002S
Form
8801
(2020)
Form 8801 (2020)
Page
2
Part II
Minimum Tax Credit and Carryforward to 2021
16
Enter the amount from your 2019 Form 6251, line 11, or 2019 Form 1041, Schedule I, line 54
..
16
9,235
17
Enter the amount from line 15
......................
17
18
Subtract line 17 from line 16. If less than zero, enter as a negative amount
.........
18
9,235
19
2019 credit carryforward.
Enter the amount from your 2019 Form 8801, line 26
......
19
5,619
20
Enter your 2019 unallowed qualified electric vehicle credit (see instructions)
........
20
21
Combine lines 18 through 20. If zero or less, stop here and see the instructions
.......
21
14,854
22
Enter your 2020 regular income tax liability minus allowable credits (see instructions)
.....
22
23
Enter the amount from your 2020 Form 6251, line 9, or 2020 Form 1041, Schedule I, line 52
..
23
24
Subtract line 23 from line 22. If zero or less, enter -0-
...............
24
25
Minimum tax credit.
Enter the
smaller
of line 21 or line 24. Also enter this amount on your 2020
Schedule 3 (Form 1040), line 6 (check box
b
); or Form 1041, Schedule G, line 2c
......
25
26
Credit carryforward to 2021.
Subtract line 25 from line 21. Keep a record of this amount because you
may use it in future years
.......................
26
14,854
Form
8801
(2020)
Form 8801 (2020)
Page
3
Part III
Tax Computation Using Maximum Capital Gains Rates
Complete Part III only if you are required to do so by line 11 or by the Foreign Earned Income Tax Worksheet in the instructions.
Caution:
If you didn't complete the 2019 Qualified Dividends and Capital Gain Tax Worksheet, the 2019 Schedule D Tax Worksheet, or Part V of the 2019 Schedule D (Form 1041), see the instructions before completing this part.*
27
Enter the amount from Form 8801, line 10. If you filed Form 2555 for 2019, enter the
amount from line 3 of the Foreign Earned Income Tax Worksheet in the instructions
......
27
5,619
Caution:
If
for 2019
you filed Form 1040-NR, 1041, or 2555, see the instructions before completing lines 28, 29, and 30.
28
Enter the amount from line 6 of your 2019 Qualified Dividends and Capital Gain Tax Worksheet, the
amount from line 13 of your 2019 Schedule D Tax Worksheet, or the amount from line 26 of the
2019 Schedule D (Form 1041), whichever applies*(as refigured for the AMT, if necessary)
....
28
651,621
If you figured your 2019 tax using the 2019 Qualified Dividends and Capital Gain Tax
Worksheet, skip line 29 and enter the amount from line 28 on line 30. Otherwise, go to line 29.
29
Enter the amount from line 19 of your 2019 Schedule D (Form 1040 or 1040-SR), or line 18b, column (2), of the 2019 Schedule D (Form 1041)
....................
29
30
Add lines 28 and 29, and enter the
smaller
of that result or the amount from line 10 of your 2019
Schedule D Tax Worksheet
.......................
30
651,621
31
Enter the
smaller
of line 27 or line 30
....................
31
5,619
32
Subtract line 31 from line 27
.......................
32
33
If line 32 is $194,800 or less ($97,400 or less if married filing separately for 2019), multiply line
32 by 26% (0.26). Otherwise, multiply line 32 by 28% (0.28) and subtract $3,896 ($1,948 if married
filing separately for 2019) from the result. Form 1040-NR filers, see instructions
......
33
34
Enter:
•
$78,750 if married filing jointly or qualifying widow(er) for 2019,
•
$39,375 if single or married filing separately for 2019,
•
$52,750 if head of household for 2019, or
•
$2,650 for an estate or trust.
Form 1040-NR filers, see instructions.
......
34
2,650
35
Enter the amount from line 7 of your 2019 Qualified Dividends and Capital Gain Tax Worksheet,
the amount from line 14 of your 2019 Schedule D Tax Worksheet, or the amount from line 27 of the
2019 Schedule D (Form 1041), whichever applies. If you didn't complete either worksheet or Part V
of the 2019 Schedule D (Form 1041), enter the amount from your 2019 Form 1040 or 1040-SR, line 11b, or 2019 Form 1041, line 23, whichever applies; if zero or less, enter -0-. Form 1040-NR filers, see instructions.
35
0
36
Subtract line 35 from line 34. If zero or less, enter -0-
...............
36
2,650
37
Enter the
smaller
of line 27 or line 28
....................
37
5,619
38
Enter the
smaller
of line 36 or line 37
....................
38
2,650
39
Subtract line 38 from line 37
.......................
39
2,969
40
Enter:
•
$434,550 if single for 2019,
•
$244,425 if married filing separately for 2019,
•
$488,850 if married filing jointly or qualifying widow(er) for 2019,
•
$461,700 if head of household for 2019, or
•
$12,950 for an estate or trust.
Form 1040-NR filers, see instructions.
......
40
12,950
41
Enter the amount from line 36
.......................
41
2,650
42
Form 1040 or 1040-SR filers, enter the amount from line 7 of your 2019 Qualified Dividends and Capital Gain Tax Worksheet or the amount from line 21 of your 2019 Schedule D Tax Worksheet, whichever
applies. If you didn't complete either worksheet, see instructions. Form 1041 filers, enter the
amount from line 27 of your 2019 Schedule D (Form 1041) or line 18 of your 2019 Schedule D Tax
Worksheet, whichever applies. If you didn't complete either the worksheet or Part V of the 2019
Schedule D (Form 1041), enter the amount from your 2019 Form 1041, line 23; if zero or less,
enter -0-. Form 1040-NR filers, see instructions
.................
42
0
* The 2019 Qualified Dividends and Capital Gain Tax Worksheet is in the 2019 Instructions for Forms 1040 and 1040-SR. The 2019 Schedule D Tax Worksheet is in the 2019 Instructions for Schedule D (Form 1040 or 1040-SR) (or the 2019 Instructions for Schedule D (Form 1041)).
Form
8801
(2020)
Form 8801 (2020)
Page
4
Part III
Tax Computation Using Maximum Capital Gains Rates
(continued)
43
Add lines 41 and 42
..........................
43
2,650
44
Subtract line 43 from line 40. If zero or less, enter -0-
...............
44
10,300
45
Enter the
smaller
of line 39 or line 44
....................
45
2,969
46
Multiply line 45 by 15% (0.15)
......................
46
445
47
Add lines 38 and 45
..........................
47
5,619
If lines 47 and 27 are the same, skip lines 48 through 52 and go to line 53. Otherwise, go to line 48.
48
Subtract line 47 from line 37
.......................
48
49
Multiply line 48 by 20% (0.20)
......................
49
If line 29 is zero or blank, skip lines 50 through 52 and go to line 53. Otherwise, go to line 50.
50
Add lines 32, 47, and 48
........................
50
51
Subtract line 50 from line 27
.......................
51
52
Multiply line 51 by 25% (0.25)
......................
52
53
Add lines 33, 46, 49, and 52
.......................
53
445
54
If line 27 is $194,800 or less ($97,400 or less if married filing separately for 2019), multiply line 27
by 26% (0.26). Otherwise, multiply line 27 by 28% (0.28) and subtract $3,896 ($1,948 if married filing
separately for 2019) from the result. Form 1040-NR filers, see instructions
.........
54
1,461
55
Enter the
smaller
of line 53 or line 54 here and on line 11. If you filed Form 2555 for 2019, don't enter this amount on line 11. Instead, enter it on line 4 of the Foreign Earned Income Tax Worksheet in the instructions for line 11
...................
55
445
Form
8801
(2020)
Additional Data
Software ID:
Software Version: