Instructions For Form 6251 - Alternative Minimum Tax-Individuals

1. The amount from line 4g of your

to the tax year, subject to the limitation

more than 2 years under section

regular tax Form 4952, or

explained later. Figure your ATNOLD

172(b)(1)(H), or

2. The total of lines 4b and 4e of

as follows.

b. 100% of AMTI for the tax year

this AMT Form 4952.

(figured without regard to the ATNOLD

Your ATNOL for a loss year is the

and any domestic production activities

excess of the deductions allowed for

Step 4. Complete Part III.

deduction, as discussed earlier)

figuring AMTI (excluding the ATNOLD)

reduced by the amount determined

Enter on Form 6251, line 8, the

over the income included in AMTI.

under (1).

difference between line 8 of your AMT

Figure this excess with the

Form 4952 and line 8 of your regular

modifications in section 172(d), taking

Enter on line 11 the smaller of the

tax Form 4952. If your AMT expense is

into account your AMT adjustments and

ATNOLD or the ATNOLD limitation.

greater, enter the difference as a

preferences (that is, the section 172(d)

negative amount.

modifications must be separately

Any ATNOL not used may be carried

Investment interest expense that is

figured for the ATNOL). For example,

back 2 years or forward up to 20 years

not an itemized deduction. If you did

the limitation of nonbusiness

(15 years for loss years beginning

not itemize deductions and you had

deductions to the amount of

before 1998). In some cases, the

investment interest expense, do not

nonbusiness income must be

carryback period is longer than 2 years;

enter an amount on Form 6251, line 8,

separately figured for the ATNOL, using

for details, see Pub. 536. See Pub.

unless you reported investment interest

only nonbusiness income and

4492-A for the part of an ATNOL that is

expense on Schedule E, Supplemental

deductions that are included in AMTI.

a qualified recovery assistance loss or

Income and Loss (Form 1040). If you

Pub. 4492-B for the part of an ATNOL

Your ATNOLD may be limited. To

did, follow the steps above for

that is a qualified disaster recovery

figure the ATNOLD limitation, you must

completing Form 4952. Allocate the

assistance loss.

first figure your AMTI without regard to

investment interest expense allowed on

the ATNOLD and any domestic

The treatment of ATNOLs does not

line 8 of the AMT Form 4952 in the

production activities deduction. To do

affect your regular tax NOL.

same way you did for the regular tax.

this, first figure a tentative amount for

Enter on Form 6251, line 8, the

Since ATNOLs arising in loss

line 9 by treating line 11 as if it were

difference between the amount allowed

years beginning before 1998

zero. Next, figure a tentative total of

on Schedule E for the regular tax and

can be carried forward no more

lines 1 through 27 using the tentative

CAUTION

the amount allowed on Schedule E for

than 15 years, you cannot carry forward

line 9 amount and treating line 11 as if

the AMT.

to 2011 an ATNOL from a loss

it were zero. Add any domestic

beginning before 1996.

production activities deduction to this

Line 9—Depletion

tentative total. Your ATNOLD is

Note. If you elected under section

You must refigure your depletion

limited to 90% of the result.

172(b)(3) to forgo the carryback period

deduction for the AMT. To do so, use

for the regular tax, the election also

However, the 90% limit does not

only income and deductions allowed for

applies for the AMT.

apply to an ATNOL that is attributable

the AMT when refiguring the limit based

to qualified disaster losses (as defined

on taxable income from the property

Line 12—Interest From

in section 172(j)), qualified Gulf

under section 613(a) and the limit

Private Activity Bonds

Opportunity Zone losses (as defined in

based on taxable income, with certain

section 1400N(k)(2)), qualified recovery

Enter on line 12 interest you earned on

adjustments, under section 613A(d)(1).

assistance losses (as defined in Pub.

“specified private activity bonds”

Also, your depletion deduction for

4492-A, Information for Taxpayers

reduced (but not below zero) by any

mines, wells, and other natural deposits

Affected by the May 4, 2007, Kansas

deduction that would have been

under section 611 is limited to the

Storms and Tornadoes), qualified

allowable if the interest were includible

property’s adjusted basis at the end of

disaster recovery assistance losses (as

in gross income for the regular tax.

the year, as refigured for the AMT,

defined in Pub. 4492-B, Information for

Each payer of this type of interest

unless you are an independent

Affected Taxpayers in the Midwestern

should send you a Form 1099-INT

producer or royalty owner claiming

Disaster Areas), or a 2008 or 2009 loss

showing the amount of this interest in

percentage depletion for oil and gas

that you elected to carry back more

wells under section 613A(c). Figure this

box 9.

than 2 years under section

limit separately for each property. When

Generally, the term “specified private

172(b)(1)(H). Therefore, if an ATNOL

refiguring the property’s adjusted basis,

activity bond” means any private activity

that is carried back or carried forward to

take into account any AMT adjustments

bond (as defined in section 141) the

the tax year is attributable to any of

you made this year or in previous years

interest on which is not includible in

those losses, the ATNOLD for the tax

that affect basis (other than current

gross income for the regular tax, if the

year is limited to the sum of:

year depletion).

bond was issued after August 7, 1986.

1. The smaller of:

Enter the difference between the

But specified private activity bonds

a. The sum of the ATNOL

regular tax and AMT deduction. If the

generally do not include any bonds

carrybacks and carryforwards to the tax

AMT deduction is greater, enter the

issued in 2009 or 2010. See section

year attributable to net operating losses

difference as a negative amount.

57(a)(5) for other exceptions and more

other than those losses described in 2a

details.

Line 10—Net Operating Loss

below, or

Do not include interest on qualified

b. 90% of AMTI for the tax year

Deduction

Gulf Opportunity Zone bonds or

(figured without regard to the ATNOLD

If you are filing Form 1040NR, enter

qualified Midwestern disaster area

and any domestic production activities

your net operating loss deduction from

bonds.

deduction, as discussed earlier), plus

Form 1040NR, line 21, as a positive

2. The smaller of:

Exempt-interest dividends paid by a

amount.

a. The sum of the ATNOL

regulated investment company are

Line 11—Alternative Tax Net

carrybacks and carryforwards to the tax

treated as interest income on specified

year attributable to qualified disaster

private activity bonds to the extent the

Operating Loss Deduction

losses, qualified Gulf Opportunity Zone

dividends are attributable to interest on

(ATNOLD)

losses, qualified recovery assistance

the bonds received by the company,

The ATNOLD is the sum of the

losses, qualified disaster recovery

minus an allocable share of the

alternative tax net operating loss

assistance losses, and any 2008 or

expenses paid or incurred by the

(ATNOL) carrybacks and carryforwards

2009 loss that you elected to carry back

company in earning the interest. This

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Instructions for Form 6251 (2011)

Instructions For Form 6251 - Alternative Minimum Tax-Individuals - 2011 Page 3

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