-
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 2022 or other tax year beginning
07-01-2022
and ending
06-30-2023
►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
22
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.)
HENRY E HUNTINGTON LIBRARY
AND ART GALLERY
Number, street, and room or suite no. If a P.O. box, see instructions.
1151 OXFORD ROAD
City or town, state or province, and ZIP or foreign postal code
SAN MARINO
,
CA
911081218
C
Book value of all assets at end of year
.....►
960,168,929
D
Employer identification number
95-1644589
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 State college/university
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 ►
JANET ALBERTI
1151 OXFORD ROAD
SAN MARINO
,
CA
911081218
Telephone number ►
(626) 405-2150
Part I
Total Unrelated Business Taxable Income
1
Total of unrelated business taxable income computed from all unrelated trades or businesses (see instructions)
..............................
1
3,273,093
2
Reserved
..............................
2
3
Add lines 1 and 2
............................
3
3,273,093
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
3,273,093
6
Deduction for net operating loss. See instructions
List of Attached Documents:
// Content
.................
6
3,273,093
7
Total of unrelated business taxable income before specific deduction and section 199A deduction.
Subtract line 6 from line 5
.........................
7
8
Specific deduction (generally $1,000, but see instructions for exceptions)
..........
8
1,000
9
Trusts.
Section 199A deduction. See instructions
.................
9
10
Total deductions.
Add lines 8 and 9
......................
10
1,000
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
87,525
6
Tax on noncompliant facility income.
See instructions
................
6
7
Total.
Add lines 3 through 6 to line 1 or 2, whichever applies
...............
7
87,525
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11291J
Form
990-T
(2022)
Form 990-T (2022)
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
87,525
3
Other amounts due. 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
87,525
5
Current net 965 tax liability paid from Form 965-A, Part II, column (k)
...........
5
0
6a
Payments: A 2021 overpayment credited to 2022
........
6a
1,763
b
2022 estimated tax payments. Check if section 643(g) election applies ►
6b
c
Tax deposited with Form 8868
..............
6c
88,000
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
89,763
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
2,238
11
Enter the amount of line 10 you want:
Credited to 2023 estimated tax
►
2,238
Refunded
►
11
0
Part IV
Statements Regarding Certain Activities and Other Information
(see instructions)
1
At any time during the 2022 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
.....
► $
4
Enter available pre-2018 NOL carryovers here. ► $
8,719,053
. Do not include any post-2017 NOL carryover shown on Schedule A (Form 990-T). Don't reduce the NOL carryover shown here by any deduction reported on Part I, line 4.
5
Post-2017 NOL carryovers. Enter the Business Activity Code and available post-2017 NOL carryovers. Don't reduce the amounts shown below by any NOL claimed on any Schedule A, Part II, line 17 for the tax year. See instructions.
Business activity code
Available post-2017 NOL carryover
459900
$
2,388,526
$
$
$
6a
Did the organization change its method of accounting? (see instructions)
.................
No
b
If 6a 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 6b. 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
(2022)
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
22
Open to Public Inspection for 501(c)(3) Organizations Only
A
Name of the organization
HENRY E HUNTINGTON LIBRARY
AND ART GALLERY
B
Employer identification number
95-1644589
C
Unrelated business activity code (see instructions) ►
459900
D
Sequence:
1
of
1
E
Describe the unrelated trade or business ►
MERCHANDISE SALES IN HUNTINGTON STORE & INVESTMENTS.
Part I
Unrelated Trade or Business Income
(A) Income
(B) Expenses
(C) Net
1a
Gross receipts or sales
1,242,246
b
Less returns and allowances
c
Balance ►
1c
1,242,246
2
Cost of goods sold (Part III, line 8)
.........
2
1,080,467
3
Gross profit. Subtract line 2 from line 1c
.......
3
161,779
161,779
4a
Capital gain net income (attach Sch D (Form 1041 or Form
1120)) (see instructions)
............
4a
b
Net gain (loss) (Form 4797) (attach Form 4797)
(see instructions)
4b
c
Capital loss deduction for trusts
4c
5
Income (loss) from a partnership or an S corporation (attach statement)
................
5
List of Attached Documents:
// Content
3,197,351
3,197,351
6
Rent income (Part IV)
.............
6
0
0
7
Unrelated debt-financed income (Part V)
.......
7
0
0
8
Interest, annuities, royalties, and rents from a controlled
organization (Part VI)
.............
8
0
0
9
Investment income of section 501(c)(7), (9), or (17)
organizations (Part VII)
............
9
0
0
10
Exploited exempt activity income (Part VIII)
......
10
11
Advertising income (Part IX)
...........
11
0
0
12
Other income (see instructions; attach statement)
....
12
13
Total.
Combine lines 3 through 12
.........
13
3,359,130
0
3,359,130
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
0
2
Salaries and wages
............................
2
3
Repairs and maintenance
..........................
3
4
Bad debts
...............................
4
5
Interest (attach statement) (see instructions)
...................
5
6
Taxes and licenses
.............................
6
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
0
14
Other deductions (attach statement)
List of Attached Documents:
// Content
......................
14
86,037
15
Total deductions.
Add lines 1 through 14
.....................
15
86,037
16
Unrelated business income before net operating loss deduction. Subtract line 15 from Part I, line 13, column (C)
16
3,273,093
17
Deduction for net operating loss (see instructions)
..................
17
0
18
Unrelated business taxable income.
Subtract line 17 from line 16
.............
18
3,273,093
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 74036O
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
Page
2
Part III
Cost of Goods Sold
Enter method of inventory valuation ►
OTHER APPROVED METHOD
1
Inventory at beginning of year
........................
1
896,373
2
Purchases
...............................
2
781,263
3
Cost of labor
..............................
3
219,999
4
Additional section 263A costs (attach statement)
..................
4
0
5
Other costs (attach statement)
List of Attached Documents:
// Content
........................
5
294,699
6
Total.
Add lines 1 through 5
..........................
6
2,192,334
7
Inventory at end of year
...........................
7
1,111,867
8
Cost of goods sold.
Subtract line 7 from line 6. Enter here and in Part I, line 2
..........
8
1,080,467
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)
.►
0
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)
.....►
0
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)
....►
0
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)
..►
0
11
Total dividends-received deductions
included in line 10
.................►
0
Schedule A (Form 990-T) 2022
Schedule A (Form 990-T) 2022
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
.........................►
0
0
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)
N/A
0
0
0
0
(2)
(3)
(4)
Totals
.........►
Add amounts in column 2.
Enter here and on Part I,
line 9, column (A)
0
Add amounts in column 5.
Enter here and on Part I,
line 9, column (B)
0
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) 2022
Schedule A (Form 990-T) 2022
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)
.............►
0
3
Direct Advertising costs by periodical
..
a
Add columns A through D. Enter here and on Part I, line 11, column (B)
.............►
0
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
..►
0
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
.........................►
0
Part XI
Supplemental Information
(see instructions)
Schedule A (Form 990-T) 2022
Additional Data
Software ID:
Software Version:
-
TIN:
SCHEDULE I
(Form 1041)
Department of the Treasury
Internal Revenue Service
Alternative Minimum Tax
Estates and Trusts
Attach to Form 1041
Go to
www.irs.gov/Form1041
for instructions and the latest information.
OMB No. 1545-0092
20
22
Name of estate or trust
Employer identification number
95-1644589
Part I
Estate's or Trust's Share of Alternative Minimum Taxable Income
1
Adjusted total income or (loss) (from Form 1041, line 17).
ESBTs,
see instructions
........
1
2
Interest
...............................
2
3
Taxes
................................
3
4
Refund of taxes
.............................
4
(
)
5
Depletion (difference between regular tax and AMT)
.................
5
6
Net operating loss deduction. Enter as a positive amount
...............
6
3,273,093
7
Interest from specified private activity bonds exempt from the regular tax
..........
7
8
Qualified small business stock (see instructions)
..................
8
9
Exercise of incentive stock options (excess of AMT income over regular tax income)
......
9
10
Other estates and trusts (amount from Schedule K-1 (Form 1041), box 12, code A)
.......
10
11
Disposition of property (difference between AMT and regular tax gain or loss)
.........
11
12
Depreciation on assets placed in service after 1986 (difference between regular tax and AMT)
...
12
13
Passive activities (difference between AMT and regular tax income or loss)
..........
13
14
Loss limitations (difference between AMT and regular tax income or loss)
...........
14
15
Circulation costs (difference between regular tax and AMT)
...............
15
16
Long-term contracts (difference between AMT and regular tax income)
...........
16
17
Mining costs (difference between regular tax and AMT)
................
17
18
Research and experimental costs (difference between regular tax and AMT)
.........
18
19
Income from certain installment sales before January 1, 1987
..............
19
(
)
20
Intangible drilling costs preference
.......................
20
21
Other adjustments, including income-based related adjustments
.............
21
22
Alternative tax net operating loss deduction (See the instructions for the limitation that applies.)
...
22
(
2,945,784
)
23
Adjusted alternative minimum taxable income. Combine lines 1 through 22
..........
23
327,309
Note:
Complete Part II below before going to line 24.
24
Income distribution deduction from Part II, line 42
........
24
25
Estate tax deduction (from Form 1041, line 19)
.........
25
26
Add lines 24 and 25
..........................
26
27
Estate's or trust's share of alternative minimum taxable income. Subtract line 26 from line 23
...
27
327,309
If line 27 is:
• $26,500 or less, stop here and enter -0- on Form 1041, Schedule G, line 1c. The estate or trust isn't liable for the alternative minimum tax.
• Over $26,500, but less than $194,300, go to line 43.
• $194,300 or more, enter the amount from line 27 on line 49 and go to line 50.
•
ESBT's,
see instructions.
Part II
Income Distribution Deduction on a Minimum Tax Basis
28
Adjusted alternative minimum taxable income (see instructions)
.............
28
29
Adjusted tax-exempt interest (other than amounts included on line 7)
...........
29
30
Total net gain from Schedule D (Form 1041), line 19, column (1). If a loss, enter -0-
.......
30
31
Capital gains for the tax year allocated to corpus and paid or permanently set aside for charitable
purposes (from Form 1041, Schedule A, line 4)
...................
31
32
Capital gains paid or permanently set aside for charitable purposes from gross income (see instructions)
32
33
Capital gains computed on a minimum tax basis included on line 23
............
33
(
)
34
Capital losses computed on a minimum tax basis included on line 23. Enter as a positive amount
..
34
35
Distributable net alternative minimum taxable income (DNAMTI). Combine lines 28 through 34. If zero
or less, enter -0-
...........................
35
36
Income required to be distributed currently (from Form 1041, Schedule B, line 9)
........
36
37
Other amounts paid, credited, or otherwise required to be distributed (from Form 1041, Schedule B, line 10)
37
38
Total distributions. Add lines 36 and 37
.....................
38
39
Tax-exempt income included on line 38 (other than amounts included on line 7)
........
39
40
Tentative income distribution deduction on a minimum tax basis. Subtract line 39 from line 38
...
40
For Paperwork Reduction Act Notice, see the Instructions for Form 1041.
Cat. No. 51517Q
Schedule I (Form 1041) (2022)
Schedule I (Form 1041) (2022)
Page
2
Part II
Income Distribution Deduction on a Minimum Tax Basis
(continued)
41
Tentative income distribution deduction on a minimum tax basis. Subtract line 29 from line 35. If zero or
less, enter -0-
............................
41
42
Income distribution deduction on a minimum tax basis.
Enter the smaller of line 40 or line 41. Enter here
and on line 24
............................
42
Part III
Alternative Minimum Tax
43
Exemption amount
............................
43
$26,500
44
Enter the amount from line 27
...............
44
327,309
45
Phase-out of exemption amount
..............
45
$88,300
46
Subtract line 45 from line 44. If zero or less, enter -0-
.......
46
47
Multiply line 46 by 25% (0.25)
.........................
47
48
Subtract line 47 from line 43. If zero or less, enter -0-
.................
48
49
Subtract line 48 from line 44
.........................
49
327,309
50
Go to Part IV of Schedule I to figure line 50 if the estate or trust has qualified dividends or has a gain on lines 18a and 19 of column (2) of Schedule D (Form 1041) (as refigured for the AMT, if necessary). Otherwise, if line 49 is
• $206,100 or less, multiply line 49 by 26% (0.26).
• Over $206,100, multiply line 49 by 28% (0.28) and subtract $4,122 from the result
......
50
87,525
51
Alternative minimum foreign tax credit (see instructions)
................
51
52
Tentative minimum tax. Subtract line 51 from line 50
.................
52
87,525
53
Enter the tax from Form 1041, Schedule G, line 1a (minus any foreign tax credit from Schedule G, line 2a)
53
0
54
Alternative minimum tax.
Subtract line 53 from line 52. If zero or less, enter -0-. Enter here and on Form
1041, Schedule G, line 1c
..........................
54
87,525
Part IV
Line 50 Computation Using Maximum Capital Gains Rates
Caution:
If you didn't complete Part V of Schedule D (Form 1041), the Schedule D Tax Worksheet, or the Qualified Dividends Tax Worksheet in the Instructions for Form 1041, see the instructions before completing this part.
55
Enter the amount from line 49
.......................
55
327,309
56
Enter the amount from Schedule D (Form 1041), line 26, line 13 of the Schedule D Tax Worksheet, or line 4 of the Qualified Dividends Tax Worksheet in the Instructions for Form 1041, whichever applies (as
refigured for the AMT, if necessary)
.............
56
57
Enter the amount from Schedule D (Form 1041), line 18b, column (2) (as refigured for the AMT, if necessary). If you didn't complete Schedule D for
the regular tax or the AMT, enter -0-
.............
57
58
If you didn't complete a Schedule D Tax Worksheet for the regular tax or the AMT, enter the amount from line 56. Otherwise, add lines 56 and 57 and enter the
smaller
of that result or the amount from line 10 of the
Schedule D Tax Worksheet (as refigured for the AMT, if necessary)
..
58
59
Enter the
smaller
of line 55 or line 58
......................
59
60
Subtract line 59 from line 55
.........................
60
61
If line 60 is $206,100 or less, multiply line 60 by 26% (0.26). Otherwise, multiply line 60 by 28% (0.28)
and subtract $4,122 from the result
......................
61
62
Maximum amount subject to the 0% rate
...........
62
$2,800
63
Enter the amount from line 27 of Schedule D (Form 1041), line 14 of the
Schedule D Tax Worksheet, or line 5 of the Qualified Dividends Tax
Worksheet in the instructions for Form 1041, whichever applies (as figured
for the regular tax). If you didn't complete Schedule D or either worksheet
for the regular tax, enter the amount from Form 1041, line 22;
if zero or less, enter -0-
................
63
64
Subtract line 63 from line 62. If zero or less, enter -0-
.......
64
65
Enter the
smaller
of line 55 or line 56
............
65
66
Enter the
smaller
of line 64 or line 65. This amount is taxed at 0%
...
66
67
Subtract line 66 from line 65
...............
67
Schedule I (Form 1041) (2022)
Schedule I (Form 1041) (2022)
Page
3
Part IV
Line 50 Computation Using Maximum Capital Gains Rates
(continued)
68
Maximum amount subject to rates below 20%
.........
68
$13,700
69
Enter the amount from line 64
..............
69
70
Enter the amount from line 27 of Schedule D (Form 1041), line 18 of the
Schedule D Tax Worksheet, or line 5 of the Qualified Dividends Tax
Worksheet, whichever applies (as figured for the regular tax). If you didn't
complete Schedule D or either worksheet for the regular tax, enter the
amount from Form 1041, line 22; if zero or less, enter -0-
....
70
71
Add lines 69 and 70
..................
71
72
Subtract line 71 from line 68. If zero or less, enter -0-
......
72
73
Enter the
smaller
of line 67 or 72
..............
73
74
Multiply line 73 by 15% (0.15)
.......................
74
75
Add lines 66 and 73
..................
75
If lines 75 and 55 are the same, skip lines 76 through 80 and go to line 81, Otherwise, go to line 76.
76
Subtract line 75 from line 65
...............
76
77
Multiply line 76 by 20% (0.20)
.......................
77
If line 57 is zero or blank, skip lines 78 through 80 and go to line 81. Otherwise, go to line 78.
78
Add lines 60, 75, and 76
................
78
79
Subtract line 78 from line 55
...............
79
80
Multiply line 79 by 25% (0.25)
.......................
80
81
Add lines 61, 74, 77 and 80
.........................
81
82
If line 55 is $206,100 or less, multiply line 55 by 26% (0.26). Otherwise, multiply line 55 by 28% (0.28)
and subtract $4,122 from the result
.......................
82
83
Enter the
smaller
of line 81 or line 82 here and on line 50
...............
83
Schedule I (Form 1041) (2022)
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
22
Attachment
Sequence No.
801
Name(s) shown on return
Identifying number
95-1644589
Part I
Net Minimum Tax on Exclusion Items
1
Combine lines 1 and 2e of your 2021 Form 6251. Estates and trusts, see instructions
....
1
2
Enter adjustments and preferences treated as exclusion items (see instructions)
.......
2
3
Minimum tax credit net operating loss deduction (see instructions)
...........
3
(
)
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 $752,800 and you were married filing separately for 2021, see instructions
........
4
0
5
Enter: $114,600 if married filing jointly or qualifying widow(er) for 2021; $73,600 if single or head of household for 2021; or $57,300 if married filing separately for 2021. Estates and trusts, enter $25,700
5
25,700
6
Enter: $1,047,200 if married filing jointly or qualifying widow(er) for 2021; $523,600 if single, head
of household, or married filing separately for 2021; Estates and trusts, enter $85,650
.....
6
85,650
7
Subtract line 6 from line 4. If zero or less, enter -0- here and on line 8 and go to line 9
.....
7
0
8
Multiply line 7 by 25% (0.25)
.......................
8
9
Subtract line 8 from line 5. If zero or less, enter -0-.
9
25,700
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
0
11
•
If
for 2021
you filed Form 2555, see instructions for the amount to enter.
•
If
for 2021
you reported capital gain distributions directly on Form 1040, 1040-SR, or 1040-NR, line 7; you reported qualified dividends on Form 1040, 1040-SR, or 1040-NR, line 3a (Form 1041, line 2b(2));
or
you had a gain on both lines 15 and 16 of Schedule D (Form 1040) (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.
•
All others:
If line 10 is $199,900 or less ($99,950 or less if married filing separately for
2021), multiply line 10 by 26% (0.26). Otherwise, multiply line 10 by 28% (0.28) and
subtract $3,998 ($1,999 if married filing separately for 2021) from the result.
11
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
14
Enter the amount from your 2021 Form 6251, line 10, or 2021 Form 1041, Schedule I, line 53
..
14
15
Net minimum tax on exclusion items.
Subtract line 14 from line 13. If zero or less, enter -0-
..
15
0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 10002S
Form
8801
(2022)
Form 8801 (2022)
Page
2
Part II
Minimum Tax Credit and Carryforward to 2023
16
Enter the amount from your 2021 Form 6251, line 11, or 2021 Form 1041, Schedule I, line 54
..
16
763
17
Enter the amount from line 15
......................
17
0
18
Subtract line 17 from line 16. If less than zero, enter as a negative amount
.........
18
763
19
2021 credit carryforward.
Enter the amount from your 2021 Form 8801, line 26
......
19
2,593
20
Enter your 2021 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
3,356
22
Enter your 2022 regular income tax liability minus allowable credits (see instructions)
.....
22
23
Enter the amount from your 2022 Form 6251, line 9, or 2022 Form 1041, Schedule I, line 52
..
23
87,525
24
Subtract line 23 from line 22. If zero or less, enter -0-
...............
24
0
25
Minimum tax credit.
Enter the
smaller
of line 21 or line 24. Also enter this amount on your 2022
Schedule 3 (Form 1040), line 6b; or Form 1041, Schedule G, line 2c
..........
25
26
Credit carryforward to 2023.
Subtract line 25 from line 21. Keep a record of this amount because you
may use it in future years
.......................
26
3,356
Form
8801
(2022)
Form 8801 (2022)
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 2021 Qualified Dividends and Capital Gain Tax Worksheet, the 2021 Schedule D Tax Worksheet, or Part V of the 2021 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 2021, enter the
amount from line 3 of the Foreign Earned Income Tax Worksheet in the instructions
......
27
Caution:
If
for 2021
you filed Form 1041, or 2555, see the instructions before completing lines 28, 29, and 30.
28
Enter the amount from line 4 of your 2021 Qualified Dividends and Capital Gain Tax Worksheet, the
amount from line 13 of your 2021 Schedule D Tax Worksheet, or the amount from line 26 of the
2021 Schedule D (Form 1041), whichever applies (as refigured for the AMT, if necessary)*
...
28
If you figured your 2021 tax using the 2021 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 2021 Schedule D (Form 1040), or line 18b, column (2), of the 2021 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 2021
Schedule D Tax Worksheet
.......................
30
31
Enter the
smaller
of line 27 or line 30
....................
31
32
Subtract line 31 from line 27
.......................
32
33
If line 32 is $199,900 or less ($99,950 or less if married filing separately for 2021), multiply line
32 by 26% (0.26). Otherwise, multiply line 32 by 28% (0.28) and subtract $3,998 ($1,999 if married
filing separately for 2021) from the result.
.................
33
34
Enter:
•
$80,800 if married filing jointly or qualifying widow(er) for 2021,
•
$40,400 if single or married filing separately for 2021,
•
$54,100 if head of household for 2021, or
•
$2,700 for an estate or trust.
......
34
35
Enter the amount from line 5 of your 2021 Qualified Dividends and Capital Gain Tax Worksheet,
the amount from line 14 of your 2021 Schedule D Tax Worksheet, or the amount from line 27 of the
2021 Schedule D (Form 1041), whichever applies. If you didn't complete either worksheet or Part V
of the 2021 Schedule D (Form 1041), enter the amount from your 2021 Form 1040, 1040-SR, or 1040-NR, line 15, or 2021 Form 1041, line 23, whichever applies; if zero or less, enter -0-.
.......
35
36
Subtract line 35 from line 34. If zero or less, enter -0-
...............
36
37
Enter the
smaller
of line 27 or line 28
....................
37
38
Enter the
smaller
of line 36 or line 37
....................
38
39
Subtract line 38 from line 37
.......................
39
40
Enter:
•
$445,850 if single for 2021,
•
$250,800 if married filing separately for 2021,
•
$501,600 if married filing jointly or qualifying widow(er) for 2021,
•
$473,750 if head of household for 2021, or
•
$13,250 for an estate or trust.
......
40
41
Enter the amount from line 36
.......................
41
42
Form 1040, 1040-SR, or 1040-NR filers, enter the amount from line 5 of your 2021 Qualified Dividends and Capital Gain Tax Worksheet or the amount from line 21 of your 2021 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 2021 Schedule D (Form 1041) or line 18 of your 2021 Schedule D Tax
Worksheet, whichever applies. If you didn't complete either the worksheet or Part V of the 2021
Schedule D (Form 1041), enter the amount from your 2021 Form 1041, line 23; if zero or less,
enter -0-.
.............................
42
* The 2021 Qualified Dividends and Capital Gain Tax Worksheet is in the 2021 Instructions for Form 1040. The 2021 Schedule D Tax Worksheet is in the 2021 Instructions for Schedule D (Form 1040) (or the 2021 Instructions for Schedule D (Form 1041)).
Form
8801
(2022)
Form 8801 (2022)
Page
4
Part III
Tax Computation Using Maximum Capital Gains Rates
(continued)
43
Add lines 41 and 42
..........................
43
44
Subtract line 43 from line 40. If zero or less, enter -0-
...............
44
45
Enter the
smaller
of line 39 or line 44
....................
45
46
Multiply line 45 by 15% (0.15)
......................
46
47
Add lines 38 and 45
..........................
47
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
54
If line 27 is $199,900 or less ($99,950 or less if married filing separately for 2021), multiply line 27
by 26% (0.26). Otherwise, multiply line 27 by 28% (0.28) and subtract $3,998 ($1,999 if married filing
separately for 2021) from the result.
....................
54
55
Enter the
smaller
of line 53 or line 54 here and on line 11. If you filed Form 2555 for 2021, 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
Form
8801
(2022)
Additional Data
Software ID:
Software Version: