| Protected B when completed | |||||||||||||||||||
| Part 1 – Adjusted taxable income and minimum amount (continued) | |||||||||||||||||||
| Amount from line 45 on the previous page | 46 | ||||||||||||||||||
| Amount from line 12000 | |||||||||||||||||||
| of your return | |||||||||||||||||||
| Amount from line 12010 | |||||||||||||||||||
| of your return | – | x 13.0435% = | G | ||||||||||||||||
| Amount from line 12000 | |||||||||||||||||||
| minus the amount from | |||||||||||||||||||
| line 12010 of your return | = | x 27.5362% = | + | H | |||||||||||||||
| Line G plus line H | = | ► | 47 | ||||||||||||||||
| Amount from line 21700 | |||||||||||||||||||
| of your return | x 60% = | + | 48 | ||||||||||||||||
| Net non-deducted capital losses from line 157 in Part 9 (11) | + | 49 | |||||||||||||||||
| Add lines 47 to 49. | = | ► | – | 50 | |||||||||||||||
| Line 46 minus line 50 (if negative, enter "0") | Adjusted taxable income | = | 51 | ||||||||||||||||
| Basic exemption | – | 52 | |||||||||||||||||
| Line 51 minus $40,000 (if negative, enter "0") | Net adjusted taxable income | = | 53 | ||||||||||||||||
| If line 53 is "0", you are not subject to alternative minimum tax. If you want to apply a minimum-tax carryover from previous years against your 2023 tax payable, complete parts 2 and 8 and attach a copy of this form to your return. Also, complete your return as usual. |
|||||||||||||||||||
| Federal tax rate | x 15% | 54 | |||||||||||||||||
| Gross minimum amount: multiply line 53 by 15%. | = | 55 | |||||||||||||||||
| Total non-refundable tax credits from line 35000 of your return | 56 | ||||||||||||||||||
| Enter the total of lines 31400, 31800, 32400 | |||||||||||||||||||
| and 32600 of your return. | 57 | ||||||||||||||||||
| Federal tax rate | x 15% | 58 | |||||||||||||||||
| Multiply line 57 by 15%. | = | ► | – | 59 | |||||||||||||||
| Line 56 minus line 59 (12) | = | ► | – | 60 | |||||||||||||||
| Line 55 minus line 60 (if negative, enter "0") | Minimum amount | = | 61 | ||||||||||||||||
| If line 61 is "0", you are not subject to alternative minimum tax. If you want to apply a minimum-tax carryover from previous years against your 2023 tax payable, complete parts 2 and 8 and attach a copy of this form to your return. Also, complete your return as usual. |
|||||||||||||||||||
| Part 2 – Basic federal tax | |||||||||||||||||||
| Enter the amount from line 40400 of your return | 62 | ||||||||||||||||||
| Total non-refundable tax credits from line 35000 of your return | 63 | ||||||||||||||||||
| Dividend tax credit: amount from line 40425 of your return | + | 64 | |||||||||||||||||
| Line 63 plus line 64 | = | ► | – | 65 | |||||||||||||||
| Line 62 minus line 65 | Tax payable before minimum tax carryover | = | 66 | ||||||||||||||||
| Minimum tax carryover applied in 2023 from line 125 in Part 8 | – | 67 | |||||||||||||||||
| Line 66 minus line 67 | Basic federal tax | = | 68 | ||||||||||||||||
| (11) |
If you have unapplied capital losses from other years, complete Part 9 and enter the net non-deducted capital losses on line 49. This applies even if you have not claimed any net capital losses of other years on line 25300 of your return. However, if line 27 in Part 1 is "0" or negative, and you do not have any unapplied net capital losses from before May 23, 1985, do not complete Part 9. Enter "0" on line 49. |
||||||||||||||||||
| (12) | If you claimed a federal logging tax credit on your return, add this amount to the amount on line 60. | ||||||||||||||||||
| T691 E (23) | Page 4 of 8 | ||||||||||||||||||