! deduction taken on line — Instruction 1041 (Schedule I)

CAUTION income deduction (S portion), of your ESBT Tax

Worksheet on line 21 when figuring your adjusted alternative minimum taxable income for the S portion of your trust. This amount is already included on line 1, Adjusted total income or (loss), from line 13 of your ESBT Tax Worksheet.

Depreciation figured using pre-1987 rules. For AMT purposes, use the straight line method to figure depreciation on real property. Use a recovery period of 19 years for 19-year real property and 15 years for low-income housing. Enter the excess of depreciation claimed for regular tax purposes over depreciation refigured using the straight line method. Figure this

6 2025 Instructions for Schedule I (Form 1041)

on an income limit other than adjusted gross income (AGI) or modified AGI (for example, farm conservation expenses). Refigure these deductions using the income limit as modified for the AMT. Include the difference between the regular tax and AMT deduction on line 21. If the AMT deduction is more than the regular tax deduction, include the difference as a negative amount.

a. The sum of the ATNOL carrybacks and

carryforwards to the tax year attributable to qualified disaster losses, qualified Gulf Opportunity Zone losses, qualified recovery assistance losses, qualified disaster recovery assistance losses, and any 2008 or 2009 loss that you elected to carry back more than 2 years under section 172(b)(1)(H); or

b. 100% of AMTI for the tax year (figured without regard

to the ATNOLD) reduced by the amount determined under 1 above.

Enter on line 22 the smaller of the ATNOLD or the ATNOLD limitation.

Any ATNOL not used may generally be carried back 2 years or forward up to 20 years if it arose before your 2018 tax year. Any ATNOL arising after your 2020 tax year may generally be carried forward indefinitely. For more information about carryover periods and special rules for 2018 through 2020 losses, see Pub. 536, Net Operating Losses (NOLs) for Individuals, Estates, and Trusts.

The treatment of ATNOLs doesn't affect your regular tax NOL.