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Form 1041-SI: 1041 (Schedule I)
IRS Form 1041 (Schedule I) is used to calculate an estate's or trust's alternative minimum taxable income, income distribution deduction, and AMT. The 15% rate applies to amounts over $3,250 and up to $15,900.
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IRS Form 1041-SI - 1041 (Schedule I)
IRS Form 1041 (Schedule I) is used to calculate an estate's or trust's alternative minimum taxable income, income distribution deduction, and AMT. The 15% rate applies to amounts over $3,250 and up to $15,900.
Risk Radar
Scan points- 1Ensure the calculation for Line 50 uses the correct rate (26% vs. 28%) based on whether line 49 is $239,100 or less.
- 2Failing to complete Schedule I for ESBTs when required by the S portion's AMT or credit status.
- 3Entering an incorrect amount on Line 27 if a residual interest in a REMIC applies without writing 'Sch. Q'.
- 4Not using the applicable AMT rate (instead of regular tax) when applying separate limitation categories.
- 5Omitting necessary supporting AMT Forms 1116 required to figure the foreign tax credit.
Plain English
This form helps an estate or trust determine its required minimum tax liability for the year. By filling out Schedule I (Form 1041), filers calculate three key figures: the alternative minimum taxable income, the deduction given to beneficiaries, and the final Alternative Minimum Tax amount. This ensures the proper taxes are paid based on special rules.
Submission Date
- Filing date: 2026-01-05 13:10:42
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when an estate or trust needs to calculate its Alternative Minimum Taxable Income (AMT) and related items.
- Do not use this form when filing for a partnership or S corporation that is acting as the entity, unless you are reporting your share of income/deductions on it.
- Check Form 8949 instead when adjusting capital gains and losses reported on Schedule D (Form 1041).
Form selector
Use this form or another form?
Foreign Source Qualified Dividends or TIP
Line 8 of Form 1041 (Schedule I)
✓ Ensure proper adjustment multipliers are applied to gains.
Not stated in the official source — verify on the agency site
AMT Credit Carryforward from 2024
Lines 9-17 of Form 1041 (Schedule I)
✓ Verify the carryover amount is correctly entered on line 10 when completing AMT Form 1116.
Shareholder/Partner Income Items
Line 1 of Form 1041 (Schedule I)
✓ If this applies, an AMT Form 8949 must be completed.
Schedule K-1 (Form 1041) Box 12 (Codes B, C, D, E, or F)
Deadline or filing window
The trigger event for completing Schedule I is when the estate's or trust's share of AMT taxable income exceeds $30,700. The form itself does not list a specific filing deadline date; however, it must be filed with the main return by the applicable tax due date.
Checklist
What you need before filling it out
Adjusted total income (Line 17)
Gross income minus deductions allowed for AMT · Form 1041, Line 17
Net Income Calculation
Reduce gross income by deductions allocable to oil, gas, and geothermal wells (reduced by excess IDCs). · Instructions p.6
Capital Gains Rate (2025)
20% maximum rate for income above $15,900. · Instructions p.1
AMT Exemption Amount
$30,700 (increased amount). · Instructions p.1
Foreign Gain Adjustment (28% group)
Multiply AMT gain by 1.0. · Instructions p.9
Before you submit
- 1Confirm the revision date reads 20/25.
- 2Verify that the Employer Identification Number is correctly entered on Form 1041 (Schedule I).
- 3Ensure all income and deductions used to determine net income are allowed for AMT, not just regular tax.
- 4Check if adjustments from Form 8949 or Schedule D were entered on Line 11 instead of Line 21.
- 5Verify that any foreign source qualified dividends/TIP amounts have been adjusted using the proper multiplier (e.g., 0.5357 for the 15% rate group).
- 6Confirm that if the estate is a partner or shareholder, its share of income/deductions has been accounted for.
- 7Ensure the AMT foreign tax credit carryover is correctly entered on Line 10 when completing Form 1116.
How to file this form
- 1Determine net income by reducing gross income (from all wells) by deductions allocable to those wells, using only AMT-allowed items.
- 2Calculate the adjusted total income for the estate or trust on Line 17 of Form 1041 (Schedule I).
- 3Complete Part II and lines 9 through 14 of AMT Form 1116, entering any relevant carryover amounts first.
- 4Review all entries to ensure proper adjustments are made for foreign source capital gains/losses using the specified multipliers on Line 8.
Known limitations
- 1The section 199A deduction is not included in the amount reported on line 1 of Form 1041 (Schedule I) [Instructions p.2].
- 2When calculating Part IV of Schedule I (Form 1041), if Line 60 is greater than zero and Line 81 is smaller than Line 82, an AMT Worksheet for Line 18 in the Instructions for Form 1116 must be completed unless specific exceptions apply [Instructions p.10].
- 3If the estate or trust qualifies for the adjustment exception under certain conditions (and Line 60 of Schedule I is not more than $239,100), an AMT Worksheet for Line 18 in the Instructions for Form 1116 may be skipped [Instructions p.10].
- 4If an estate or trust is a beneficiary of another estate or trust, the section 1202 exclusion must not be decreased by any amount included on line 8 of Schedule I (Form 1041) [Instructions p.11].
- 5The specific foreign source qualified dividend adjustment depends on the tax rate: multiply by 0.5357 if taxed at 15%, or by 0.7143 if taxed at 20% [Instructions p.9].
Field map
Compact field-by-field guide
Personal Info
3 items
Enter your legal first and last name as shown on your Social Security card.
Your SSN must match IRS records exactly.
Current mailing address including street, city, state, and ZIP code.
Filing Status
1 items
Select: Single, Married Filing Jointly, Married Filing Separately, Head of Household, or Qualifying Surviving Spouse.
Income
1 items
Sum of all income sources — wages, interest, dividends, business income, capital gains, unemployment, retirement, and other income.
Adjustments
1 items
Total income minus above-the-line deductions such as IRA contributions, student loan interest, and HSA contributions.
Deductions
1 items
Choose the higher of the standard deduction for your filing status or total itemized deductions from Schedule A.
Tax
1 items
AGI minus deductions. This determines your tax bracket and the amount of tax owed.
Payments
1 items
Sum of federal tax withheld, estimated tax payments, and refundable credits like the Child Tax Credit.
Signatures
1 items
You must sign and date the return. Unsigned returns are invalid.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is 20/25, and instructions are available at IRS.gov/Form1041. Updates include an increase of the AMT exemption amount to $30,700, and for tax year 2025, the 20% maximum capital gains rate applies to estates and trusts with income above $15,900.
What changed or needs a fresh check
- Edition date — confirm the revision reads 20/25.
- IRS Address — confirmation of mailing address is not stated in the excerpt (verify on IRS.gov).
- Signature — confirmation that a signature field exists is not explicitly detailed, but it is required for filing.
- OMB Number — confirm the form carries OMB No. 1545-0092.
Quick Facts
Downloads
After you file
- 1Keep a copy of Form 1041 (Schedule I) for record-keeping.
- 2Retain the AMT Form 8949, AMT Schedule D (Form 1041), and applicable AMT worksheet when filing Form 1041 (Schedule I) [Instructions p.11].
- 3Do not attach the AMT Form 8949, AMT Schedule D (Form 1041), or applicable AMT worksheet to Form 1041 (Schedule I) [Instructions p.11].
- 4If completing Part IV of Schedule I (Form 1041), use amounts from the AMT Schedule D (Form 1041), AMT Schedule D Tax Worksheet, or Qualified Dividends Tax Worksheet to complete lines 56, 57, and 58 [Instructions p.11].
- 5If Part IV is completed, subtract Line 53 from Line 52 on Form 1041 (Schedule I), entering the result on Schedule G, line 1c of Form 1041 [Form p.2].
Sources
- SRCInstructions p.2 — The ESBT Tax Worksheet must be used when completing other forms and worksheets; an "ESBT" notation is required for the S portion of the trust [Instructions p.2].
- SRCInstructions p.2 — Line 1 of Form 1041 (Schedule I) is Adjusted Total Income or (Loss) from Form 1041, line 17, or ESBT Tax Worksheet, line 13 [Instructions p.2].
- SRCInstructions p.9 — The adjustment exception requires that Line 60 of Schedule I (Form 1041) is not more than $239,100 [Instructions p.9].
- SRCInstructions p.9 — To adjust foreign source qualified dividends taxed at 15%, multiply by 0.5357 and include results on line 1a of Form 1116 [Instructions p.9].
- SRCInstructions p.9 — Foreign qualified dividends taxed at 20% must be multiplied by 0.7143 and included on line 1a of Form 1116 [Instructions p.9].
- SRCInstructions p.10 — If the adjustment exception applies, you may skip completing an AMT Worksheet for Line 18 if Line 60 is not more than $239,100 [Instructions p.10].
- SRCInstructions p.10 — To complete the AMT Worksheet for Line 18, enter line 73 of Form 1041 (Schedule I) on line 8 of the worksheet [Instructions p.10].
- SRCInstructions p.11 — Lines 56, 57, and 58 of Form 1041 (Schedule I) are completed using amounts from the AMT Schedule D Tax Worksheet or Qualified Dividends Tax Worksheet [Instructions p.11].
Common confusion points
What income amount goes on Line 1?
It is Adjusted Total Income or (Loss) from Form 1041, line 17, or the ESBT Tax Worksheet, line 13. Note that the section 199A deduction is excluded from this amount [Instructions p.2].
When do you need to complete an AMT Worksheet for Line 18?
You must complete it if Line 60 of Schedule I (Form 1041) > $0 AND Line 81 of Schedule I (Form 1041) < Line 82, unless the adjustment exception applies and Line 60 is $\le$ $239,100 [Instructions p.10].
How do foreign qualified dividends taxed at 15% get adjusted?
Multiply the amount in each separate category by 0.5357 and include the result on line 1a of Form 1116 [Instructions p.9].
What happens with foreign qualified dividends taxed at 0%?
They are adjusted by not including them on line 1a of Form 1116, but they must be reported elsewhere (line 8 of the Qualified Dividends Tax Worksheet or line 30 of Schedule D) [Instructions p.9].
When is Line 18 automatically filled?
If you do not need to complete an AMT Worksheet for Line 18, enter the amount from line 27 of Form 1041 (Schedule I) directly onto line 18 of the AMT Form 1116 [Instructions p.10].
How is Part IV completed if you have capital gains/losses?
Use refigured amounts for the AMT to determine adjustments, first checking Worksheet A or Worksheet B in the Instructions for Form 1116 [Instructions p.9].
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- If you complete Part IV of Schedule I (Form 1041), you must use an AMT Worksheet for Line 18 in the Instructions for Form 1116 to figure the amount for Form 1116, line 18 [Instructions p.10].
Questions about IRS Form 1041-SI
What is IRS Form 1041-SI used for?
This form helps an estate or trust determine its required minimum tax liability for the year. By filling out Schedule I (Form 1041), filers calculate three key figures: the alternative minimum taxable income, the deduction given to beneficiaries, and the final Alternative Minimum Tax amount. This ensures the proper taxes are paid based on special rules.
Who must file IRS Form 1041-SI?
An estate or trust must complete Schedule I if its share of alternative minimum taxable income (Part I, line 27) exceeds $30,700. Electing Small Business Trusts (ESBTs) must also complete it under specific conditions.
What information does IRS Form 1041-SI require?
The form collects data to figure the estate's or trust's alternative minimum taxable income and the income distribution deduction on a minimum tax basis. Part III specifically details the Alternative Minimum Tax Computation, while Line 27 reports the Estate's or Trust's Share of Alternative Minimum Taxable Income.
When is IRS Form 1041-SI due?
The official source does not state a specific filing deadline date for Form 1041 (Schedule I) itself, but it is used to complete the overall return, which has an unspecified due date based on the instructions provided.
How do I complete IRS Form 1041-SI?
Filers must complete Parts I and II if the estate or trust is required to complete Form 1041, Schedule B. The completion sequence involves calculating AMT adjustments in Part III before finalizing results like Line 50. All necessary supporting documentation, such as attached AMT Forms 1116, must be included.
What happens if IRS Form 1041-SI is filed incorrectly?
If errors occur, the resulting figures—such as the AMT deduction or taxable income—will be incorrect, potentially leading to underpayment or overpayment of taxes due on Form 1041.
What income amount goes on Line 1?
It is Adjusted Total Income or (Loss) from Form 1041, line 17, or the ESBT Tax Worksheet, line 13. Note that the section 199A deduction is excluded from this amount [Instructions p.2].
When do you need to complete an AMT Worksheet for Line 18?
You must complete it if Line 60 of Schedule I (Form 1041) > $0 AND Line 81 of Schedule I (Form 1041) < Line 82, unless the adjustment exception applies and Line 60 is $\le$ $239,100 [Instructions p.10].
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