Instructions For Form 6251 - Alternative Minimum Tax - Individuals

Worksheet because Form 1040, line 43

2. Reduce the amount you would

Line 43

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

otherwise enter on Form 1040, line 9b,

If you are filing Form 1040NR, enter

3. You received a Schedule K-1

(but not below zero) by any of your capital

$31,850 ($63,700 if you checked filing

(Form 1041) that shows an amount in box

gain excess not used in (1).

status box 6).

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

3. Reduce the amount on your AMT

Line 44

applies, see Beneficiaries of estates or

Schedule D (Form 1040), line 18, (but not

trusts on this page. Then read the

below zero) by your capital gain excess.

If you are filing Form 1040NR, enter on

following instructions.

4. Include your capital gain excess as

Form 6251, line 44, the amount from line

a loss on line 16 of your AMT

5 of the Qualified Dividends and Capital

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

Unrecaptured Section 1250 Gain

Gain Tax Worksheet in the instructions for

through 20 of an AMT Schedule D by

Worksheet on page D-9 of the

Form 1040NR, line 41, or the amount

refiguring the amounts of your gains and

Instructions for Schedule D (Form 1040).

from line 14 of the Schedule D Tax

losses for the AMT. Next, if (1), (2), or (3)

Worksheet on page D-10 of the

Beneficiaries of estates or trusts. If

applies, complete lines 2 through 6 of an

instructions for Schedule D (Form 1040),

AMT Qualified Dividends and Capital

you received a Schedule K-1 (Form 1041)

whichever applies (as figured for the

that shows an adjustment in box 12,

Gain Tax Worksheet or lines 2 through 13

regular tax). If you did not complete either

follow the instructions in the following

of an AMT Schedule D Tax Worksheet,

worksheet for the regular tax, enter -0-.

whichever applies. (See line 20 of your

table.

Line 54

AMT Schedule D, if you completed one,

IF the code in

THEN include that

to determine which worksheet applies.)

If you are filing Form 1040NR and Form

box 12 is...

adjustment in figuring the

Complete line 5 of the AMT Qualified

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

amount on...

Dividends and Capital Gain Tax

($87,500 or less if you checked filing

Worksheet or lines 3 and 4 of the AMT

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

line 2 of an AMT Qualified

Schedule D Tax Worksheet, whichever

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

Dividends and Capital Gain

applies, using your AMT Form 4952. Use

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

Tax Worksheet or an AMT

amounts from Schedule D or the AMT

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

Schedule D Tax

Schedule D, whichever applies, and

Worksheet, whichever

from the result.

either the AMT Qualified Dividends and

applies.

Paperwork Reduction Act Notice. We

Capital Gain Tax Worksheet or the AMT

line 5, column (f), of an

ask for the information on this form to

Schedule D Tax Worksheet, whichever

AMT Schedule D.

carry out the Internal Revenue laws of the

applies, to complete lines 37, 38, and 39

United States. You are required to give us

of Form 6251. Keep the AMT Schedule D

line 12, column (f), of an

the information. We need it to ensure that

and applicable worksheet for your

AMT Schedule D.

you are complying with these laws and to

records, but do not attach the AMT

line 11 of an AMT

allow us to figure and collect the right

Schedule D to your tax return.

Unrecaptured Section 1250

amount of tax.

Note. Do not decrease your section

Gain Worksheet.

You are not required to provide the

1202 exclusion by the amount, if any, on

information requested on a form that is

line 12.

line 4 of an AMT 28% Rate

Gain Worksheet.

subject to the Paperwork Reduction Act

Forms 2555 and 2555-EZ. If you are

unless the form displays a valid OMB

filing either of these forms and you have

control number. Books or records relating

Form 1040NR. If you are filing Form

a capital gain excess, you must complete

to a form or its instructions must be

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

Part III of Form 6251 with certain

retained as long as their contents may

amount from line 4 of the Qualified

modifications. To see if you have a capital

become material in the administration of

Dividends and Capital Gain Tax

gain excess, subtract Form 6251, line 30,

any Internal Revenue law. Generally, tax

Worksheet in the instructions for Form

from line 6 of your AMT Qualified

returns and return information are

1040NR, line 41, or the amount from line

Dividends and Capital Gain Tax

confidential, as required by section 6103.

13 of the Schedule D Tax Worksheet on

Worksheet (or line 10 of your AMT

page D-10 of the instructions for

The average time and expenses

Schedule D Tax Worksheet). If the result

Schedule D (Form 1040), whichever

required to complete and file this form will

is greater than zero, that amount is your

applies (as refigured for the AMT, if

vary depending on individual

capital gain excess.

necessary).

circumstances. For the estimated

If you have capital gain excess, figure

averages, see the instructions for your

Line 42

the amounts to enter on lines 37, 38, and

income tax return.

39 of Form 6251 using the following

If you are filing Form 1040NR and Form

If you have suggestions for making this

modifications (only for purposes of Part III

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

form simpler, we would be happy to hear

of Form 6251).

($87,500 or less if you checked filing

from you. See the instructions for your

1. Reduce the amount you would

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

income tax return.

otherwise enter on line 3 of your AMT

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

Qualified Dividends and Capital Gain Tax

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

Worksheet or line 9 of your AMT

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

Schedule D Tax Worksheet (but not

from the result.

below zero) by your capital gain excess.

-10-

Instructions For Form 6251 - Alternative Minimum Tax - Individuals - 2007 Page 10

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