tino_rossi[at]yahoo.com wrote:

- quote -

Sec 1231 gain.

- quote -

Line 19 Code B = distributions of property other than cash.
Syndication costs maybe ought to be Line 18 Code C
nondeductible expenses, but I haven't done a return with
them on it before. Neither 19B nor 18C gets you a
deduction, though - they just reduce your basis.

- quote -

I'm not sure how you came up with this number.

I can't comment on the AMT/1040NR issue, not doing that type
of return. But I think you've got the wrong answer without
regard to AMT.

Phoebe

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Question concerning Calculation of Alternative Minimum Tax
(AMT) for non resident aliens filing Form 1040NR/2004.

Taxpayer is limited partner in a limited partnership and
received a Schedule K-1(1065) for tax year 2004 from the
partnership. There is absolutely no other income .

Schedule K-1(1065) information (no additional items!):

Line 10: $ 10,000
Line 19b: $ 4,300 "syndication costs"

With no additional costs the net long-term capital gain
is reduced to $ 6,700. Total tax on 1040NR/2004,
line 40 = $130.--.

Question:
Does the non resident alien taxapayer have to pay ATM in
this case?

Thank you for your help.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >