Instructions For Form 6251 - Alternative Minimum Tax-Individuals

2. Skip lines 2 and 3 of the

to figure your tax on Form 1040, line 44

worksheet applies.) Complete line 5 of

worksheet.

(or Form 1040NR, line 42), you must

the AMT Qualified Dividends and

3. Enter the amount from Form

refigure that tax (including any tax from

Capital Gain Tax Worksheet or lines 3

6251, line 50, on line 4 of the

Form 8814) without using Schedule J

and 4 of the AMT Schedule D Tax

worksheet.

before completing this line. This is only

Worksheet, whichever applies, using

4. Multiply line 4 of the worksheet

for Form 6251; do not change the

your AMT Form 4952. Use amounts

by 0.1071 (instead of 0.2857). Enter the

amount on Form 1040, line 44 (or Form

from Schedule D or the AMT Schedule

result on line 5 of the worksheet.

1040NR, line 42).

D, whichever applies, and either the

5. Enter the amount from Form

AMT Qualified Dividends and Capital

6251, line 48, on line 6 of the

Gain Tax Worksheet or the AMT

Form 1040NR. If you are filing Form

worksheet.

Schedule D Tax Worksheet, whichever

1040NR, enter the tax from Form

6. Multiply line 6 of the worksheet

applies, to complete lines 37, 38, and

1040NR, line 42 (minus any tax from

by 0.4643 (instead of 0.5714). Enter the

39 of Form 6251. Keep the AMT Form

Form 4972, Tax on Lump-Sum

result on line 7 of the worksheet.

Distributions, and any foreign tax credit

8949, AMT Schedule D, and the

7. Enter the amount from Form

from Form 1040NR, line 45). If you

applicable worksheet for your records,

6251, line 47, on line 8 of the

used Schedule J to figure your tax, the

but do not attach any of them to your

worksheet.

amount on line 42 of Form 1040NR

tax return.

8. Complete lines 9 and 10 of the

must be refigured without using

worksheet as instructed on the

Schedule J (see preceding paragraph).

worksheet.

Note. Do not decrease your section

1202 exclusion by the amount, if any,

on line 13.

Step 7. Enter the amount from Form

Part III—Tax

6251, line 31, on the AMT Form 1116,

Computation Using

line 20. Complete lines 19, 21, and 22

Forms 2555 and 2555-EZ. If you are

of the AMT Form 1116.

filing either of these forms and you

Maximum Capital Gains

have a capital gain excess, you must

Step 8. Complete Part IV of the first

Rates

complete Part III of Form 6251 with

AMT Form 1116 only.

certain modifications. To see if you

have a capital gain excess, subtract

Lines 37, 38, and 39

Enter on Form 6251, line 32, the

Form 6251, line 30, from line 6 of your

amount from line 30 of the first AMT

You generally can fill out lines 37, 38,

AMT Qualified Dividends and Capital

Form 1116.

and 39 using the amounts from the

Gain Tax Worksheet (or line 10 of your

Qualified Dividends and Capital Gain

AMT Schedule D Tax Worksheet). If the

Attach to your tax return, after Form

Tax Worksheet or the Schedule D Tax

6251, all AMT Forms 1116 you used to

result is greater than zero, that amount

Worksheet, whichever applies, and

figure your AMTFTC. But do not attach

is your capital gain excess.

Schedule D (Form 1040), if you

AMT Forms 1116 if your AMTFTC is

completed Schedule D. But do not use

the same as your regular tax foreign tax

If you have capital gain excess,

those amounts if any of the following

credit.

figure the amounts to enter on lines 37,

statements apply.

38, and 39 of Form 6251 using the

AMTFTC Carryback and

1. The gain or loss from any

following modifications (only for

Carryforward

transaction reported on Form 8949 or

purposes of Part III of Form 6251).

Schedule D is different for the AMT (for

If your AMTFTC is limited, the unused

1. Reduce the amount you would

example, because of a different basis

amount generally may be carried back

otherwise enter on line 3 of your AMT

for the AMT due to depreciation

or forward according to section 904(c).

Qualified Dividends and Capital Gain

adjustments, an incentive stock option

However, if you made the election to

Tax Worksheet or line 9 of your AMT

adjustment, or a different AMT capital

claim the foreign tax credit on Form

Schedule D Tax Worksheet (but not

loss carryover from 2010).

1040 (or Form 1040NR) without filing

below zero) by your capital gain

Form 1116, any unused AMTFTC

2. You did not complete either the

excess.

cannot be carried back or forward. In

Qualified Dividends and Capital Gain

2. Reduce the amount you would

addition, no unused AMTFTC from

Tax Worksheet or the Schedule D Tax

otherwise enter on line 2 of your AMT

another year can be used in any year

Worksheet because Form 1040, line 43

Qualified Dividends and Capital Gain

for which the election has been made.

(or Form 1040NR, line 41), is zero.

Tax Worksheet or line 6 of your AMT

3. You received a Schedule K-1

Simplified Limitation Election

Schedule D Tax Worksheet (but not

(Form 1041) that shows an amount in

below zero) by any of your capital gain

You may elect to use a simplified

box 12 with code B, C, D, E, or F. If this

excess not used in (1).

section 904 limitation to figure your

applies, see Beneficiaries of estates or

AMTFTC. If you do, use your regular

3. Reduce the amount on your AMT

trusts. Then read the following

tax income for Form 1116, Part I,

Schedule D (Form 1040), line 18, (but

instructions.

instead of refiguring your foreign source

not below zero) by your capital gain

income for the AMT, as described

excess.

earlier. You must make the election for

If (1) applies, complete an AMT

4. Include your capital gain excess

the first tax year after 1997 for which

Form 8949 by refiguring, for example,

as a loss on line 16 of your AMT

you claim an AMTFTC. If you do not

your basis for the AMT. Next, if (1) or

Unrecaptured Section 1250 Gain

make the election for that year, you

(3) applies, complete lines 1 through 20

Worksheet in the Instructions for

may not make it for a later year. Once

of an AMT Schedule D. Then, if (1), (2),

Schedule D (Form 1040).

made, the election applies to all later

or (3) applies, complete lines 2 through

tax years and may be revoked only with

6 of an AMT Qualified Dividends and

IRS consent.

Beneficiaries of estates or trusts. If

Capital Gain Tax Worksheet or lines 2

you received a Schedule K-1 (Form

through 13 of an AMT Schedule D Tax

Line 34

Worksheet, whichever applies. (See

1041) that shows an adjustment in box

line 20 of your AMT Schedule D, if you

12, follow the instructions in the

If you used Schedule J, Income

Averaging for Farmers and Fishermen,

completed one, to determine which

following table.

-11-

Instructions for Form 6251 (2011)

Instructions For Form 6251 - Alternative Minimum Tax-Individuals - 2011 Page 11

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