Instructions For Form 6251 - Alternative Minimum Tax - Individuals

Worksheet or the Schedule D Tax

instructions for Schedule D (Form 1040),

IF the code in

THEN include that

Worksheet, whichever applies, and

box 12 is...

adjustment in figuring the

whichever applies (as figured for the

amount on...

Schedule D (Form 1040), if you

regular tax). If you did not complete either

completed Schedule D. But do not use

worksheet for the regular tax, enter -0-.

line 2 of an AMT Qualified

those amounts if any of the following

Line 54

Dividends and Capital Gain

statements apply.

Tax Worksheet or an AMT

If you are filing Form 1040NR and Form

1. Any gain or loss on Schedule D is

Schedule D Tax

6251, line 36, is $175,000 or less

different for the AMT (for example,

Worksheet, whichever

($87,500 or less if you checked filing

because of a different basis for the AMT

applies.

status box 3, 4, or 5), multiply line 36 by

due to depreciation adjustments, an

26% (.26). Otherwise, multiply line 36 by

line 5, column (f), of an

incentive stock option adjustment, or a

AMT Schedule D.

28% (.28) and subtract $3,500 ($1,750 if

different AMT capital loss carryover from

you checked filing status box 3, 4, or 5)

2005).

line 12, column (f), of an

from the result.

2. You did not complete either the

AMT Schedule D.

Line 55

Qualified Dividends and Capital Gain Tax

line 11 of an AMT

Worksheet or the Schedule D Tax

If you are filing Form 2555 or Form

Unrecaptured Section 1250

Worksheet because Form 1040, line 43

2555-EZ, do not enter the amount from

Gain Worksheet.

(or Form 1040NR, line 40), is zero.

Form 6251, line 55, on Form 6251, line

3. You received a Schedule K-1

line 4 of an AMT 28% Rate

31. Instead, enter the amount from Form

(Form 1041) that shows an amount in box

Gain Worksheet.

6251, line 55, on line 8 of the worksheet

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

on page 8. Then complete the rest of that

applies, see Beneficiaries of estates or

Form 1040NR. If you are filing Form

worksheet to figure the amount to enter

trusts on this page. Then read the

1040NR, enter on Form 6251, line 37, the

on Form 6251, line 31.

following instructions.

amount from line 4 of the Qualified

Paperwork Reduction Act Notice. We

Dividends and Capital Gain Tax

If (1) or (3) above applies, complete

ask for the information on this form to

Worksheet in the instructions for Form

lines 1 through 20 of an AMT Schedule D

carry out the Internal Revenue laws of the

1040NR, line 41, or the amount from line

by refiguring the amounts of your gains

United States. You are required to give us

13 of the Schedule D Tax Worksheet on

and losses for the AMT. Next, if (1), (2),

the information. We need it to ensure that

page D-10 of the instructions for

or (3) above applies, complete lines 2

you are complying with these laws and to

Schedule D (Form 1040), whichever

through 6 of an AMT Qualified Dividends

allow us to figure and collect the right

applies (as refigured for the AMT, if

and Capital Gain Tax Worksheet or lines

amount of tax.

necessary).

2 through 13 of an AMT Schedule D Tax

You are not required to provide the

Line 42

Worksheet, whichever applies. (See line

information requested on a form that is

20 of your AMT Schedule D, if you

If you are filing Form 1040NR and Form

subject to the Paperwork Reduction Act

completed one, to determine which

6251, line 41, is $175,000 or less

unless the form displays a valid OMB

worksheet applies.) Complete line 5 of the

($87,500 or less if you checked filing

control number. Books or records relating

AMT Qualified Dividends and Capital

status box 3, 4, or 5), multiply line 41 by

to a form or its instructions must be

Gain Tax Worksheet or lines 3 and 4 of

26% (.26). Otherwise, multiply line 41 by

retained as long as their contents may

the AMT Schedule D Tax Worksheet,

28% (.28) and subtract $3,500 ($1,750 if

become material in the administration of

whichever applies, using your AMT Form

you checked filing status box 3, 4, or 5)

any Internal Revenue law. Generally, tax

4952. Use amounts from Schedule D or

from the result.

returns and return information are

the AMT Schedule D, whichever applies,

confidential, as required by section 6103.

Line 43

and either the AMT Qualified Dividends

The average time and expenses

and Capital Gain Tax Worksheet or the

If you are filing Form 1040NR, enter

required to complete and file this form will

AMT Schedule D Tax Worksheet,

$30,650 ($61,300 if you checked filing

vary depending on individual

whichever applies, to complete lines 37,

status box 6).

circumstances. For the estimated

38, and 39 of Form 6251. Keep the AMT

Line 44

averages, see the instructions for your

Schedule D and applicable worksheet for

income tax return.

If you are filing Form 1040NR, enter on

your records, but do not attach the AMT

Form 6251, line 44, the amount from line

Schedule D to your tax return.

If you have suggestions for making this

5 of the Qualified Dividends and Capital

form simpler, we would be happy to hear

Note. Do not decrease your section 1202

Gain Tax Worksheet in the instructions for

from you. See the instructions for your

exclusion by the amount, if any, on

Form 1040NR, line 41, or the amount

income tax return.

line 12.

from line 14 of the Schedule D Tax

Beneficiaries of estates or trusts. If

Worksheet on page D-10 of the

you received a Schedule K-1 (Form 1041)

that shows an adjustment in box 12,

follow the instructions in the following

table.

-10-

Instructions For Form 6251 - Alternative Minimum Tax - Individuals - 2006 Page 10

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