Form 6251 - Alternative Minimum Tax - Individuals
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1
26251
OMB No. 1545-0227
Alternative Minimum Tax—Individuals
2004
Form
See separate instructions.
Attachment
Department of the Treasury
32
Attach to Form 1040 or Form 1040NR.
(99)
Sequence No.
Internal Revenue Service
Name(s) shown on Form 1040
Your social security number
Alternative Minimum Taxable Income (See instructions for how to complete each line.)
Part I
1
If filing Schedule A (Form 1040), enter the amount from Form 1040, line 40, and go to line 2. Otherwise,
1
enter the amount from Form 1040, line 37, and go to line 7. (If less than zero, enter as a negative amount.)
2
2
Medical and dental. Enter the smaller of Schedule A (Form 1040), line 4, or 2
1
⁄
% of Form 1040, line 37
2
3
3
Taxes from Schedule A (Form 1040), line 9
4
4
Enter the home mortgage interest adjustment, if any, from line 6 of the worksheet on page 2 of the instructions
5
5
Miscellaneous deductions from Schedule A (Form 1040), line 26
6
If Form 1040, line 37, is over $142,700 (over $71,350 if married filing separately), enter the amount from line
(
)
9 of the Itemized Deductions Worksheet on page B-1 of the Instructions for Schedules A & B (Form 1040)
6
(
)
7
7
Tax refund from Form 1040, line 10 or line 21
8
Investment interest expense (difference between regular tax and AMT)
8
9
9
Depletion (difference between regular tax and AMT)
10
10
Net operating loss deduction from Form 1040, line 21. Enter as a positive amount
11
11
Interest from specified private activity bonds exempt from the regular tax
12
12
Qualified small business stock (7% of gain excluded under section 1202)
13
13
Exercise of incentive stock options (excess of AMT income over regular tax income)
14
Estates and trusts (amount from Schedule K-1 (Form 1041), line 9)
14
15
15
Electing large partnerships (amount from Schedule K-1 (Form 1065-B), box 6)
16
16
Disposition of property (difference between AMT and regular tax gain or loss)
17
17
Depreciation on assets placed in service after 1986 (difference between regular tax and AMT)
18
18
Passive activities (difference between AMT and regular tax income or loss)
19
19
Loss limitations (difference between AMT and regular tax income or loss)
20
20
Circulation costs (difference between regular tax and AMT)
21
21
Long-term contracts (difference between AMT and regular tax income)
22
22
Mining costs (difference between regular tax and AMT)
23
23
Research and experimental costs (difference between regular tax and AMT)
(
)
24
24
Income from certain installment sales before January 1, 1987
25
25
Intangible drilling costs preference
26
26
Other adjustments, including income-based related adjustments
27
(
)
27
Alternative tax net operating loss deduction
28
Alternative minimum taxable income. Combine lines 1 through 27. (If married filing separately and line
28 is more than $191,000, see page 6 of the instructions.)
28
Alternative Minimum Tax
Part II
29
Exemption. (If this form is for a child under age 14, see page 6 of the instructions.)
AND line 28 is
THEN enter on
IF your filing status is . . .
not over . . .
line 29 . . .
Single or head of household
$112,500
$40,250
29
Married filing jointly or qualifying widow(er)
150,000
58,000
Married filing separately
75,000
29,000
If line 28 is over the amount shown above for your filing status, see page 6 of the instructions.
30
30
Subtract line 29 from line 28. If zero or less, enter -0- here and on lines 33 and 35 and stop here
● If you reported capital gain distributions directly on Form 1040, line 13; you reported qualified dividends
31
on Form 1040, line 9b; or you had a gain on both lines 15 and 16 of Schedule D (Form 1040) (as refigured
for the AMT, if necessary), complete Part III on the back and enter the amount from line 55 here.
31
● All others: If line 30 is $175,000 or less ($87,500 or less if married filing separately), multiply line 30 by 26% (.26).
Otherwise, multiply line 30 by 28% (.28) and subtract $3,500 ($1,750 if married filing separately) from the result.
32
32
Alternative minimum tax foreign tax credit (see page 7 of the instructions)
33
33
Tentative minimum tax. Subtract line 32 from line 31
34
Tax from Form 1040, line 43 (minus any tax from Form 4972 and any foreign tax credit from Form 1040,
line 46). If you used Schedule J to figure your tax, the amounts for lines 43 and 46 of Form 1040 must
be refigured without using Schedule J (see page 8 of the instructions)
34
35
Alternative minimum tax. Subtract line 34 from line 33. If zero or less, enter -0-. Enter here and on Form
1040, line 44
35
6251
For Paperwork Reduction Act Notice, see page 8 of the instructions.
Cat. No. 13600G
Form
(2004)
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