Instructions For Form 6251 - 2011 (Page 4 of 13) in pdf

On line 4g, enter the smaller of:

a. The sum of the ATNOL

Line 11—Alternative Tax Net

carrybacks and carryforwards to the tax

1. The amount from line 4g of your

Operating Loss Deduction

year attributable to qualified disaster

regular tax Form 4952, or

(ATNOLD)

losses, qualified Gulf Opportunity Zone

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

losses, qualified recovery assistance

The ATNOLD is the sum of the

this AMT Form 4952.

losses, qualified disaster recovery

alternative tax net operating loss

assistance losses, and any 2008 or

(ATNOL) carrybacks and carryforwards

Step 4. Complete Part III.

2009 loss that you elected to carry back

to the tax year, subject to the limitation

more than 2 years under section

explained later. Figure your ATNOLD

Enter on Form 6251, line 8, the

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

as follows.

difference between line 8 of your AMT

b. 100% of AMTI for the tax year

Your ATNOL for a loss year is the

Form 4952 and line 8 of your regular

(figured without regard to the ATNOLD

excess of the deductions allowed for

tax Form 4952. If your AMT expense is

and any domestic production activities

figuring AMTI (excluding the ATNOLD)

greater, enter the difference as a

deduction, as discussed earlier)

over the income included in AMTI.

reduced by the amount determined

negative amount.

Figure this excess with the

under (1).

modifications in section 172(d), taking

Investment interest expense that is

into account your AMT adjustments and

Enter on line 11 the smaller of the

not an itemized deduction. If you did

preferences (that is, the section 172(d)

ATNOLD or the ATNOLD limitation.

not itemize deductions and you had

modifications must be separately

investment interest expense, do not

Any ATNOL not used may be carried

figured for the ATNOL). For example,

enter an amount on Form 6251, line 8,

back 2 years or forward up to 20 years

the limitation of nonbusiness

unless you reported investment interest

(15 years for loss years beginning

deductions to the amount of

before 1998). In some cases, the

expense on Schedule E, Supplemental

nonbusiness income must be

carryback period is longer than 2 years;

Income and Loss (Form 1040). If you

separately figured for the ATNOL, using

for details, see Pub. 536. See Pub.

did, follow the steps above for

only nonbusiness income and

4492-A for the part of an ATNOL that is

completing Form 4952. Allocate the

deductions that are included in AMTI.

a qualified recovery assistance loss or

investment interest expense allowed on

Pub. 4492-B for the part of an ATNOL

Your ATNOLD may be limited. To

line 8 of the AMT Form 4952 in the

that is a qualified disaster recovery

figure the ATNOLD limitation, you must

same way you did for the regular tax.

assistance loss.

first figure your AMTI without regard to

Enter on Form 6251, line 8, the

the ATNOLD and any domestic

The treatment of ATNOLs does not

difference between the amount allowed

production activities deduction. To do

affect your regular tax NOL.

on Schedule E for the regular tax and

this, first figure a tentative amount for

the amount allowed on Schedule E for

Since ATNOLs arising in loss

line 9 by treating line 11 as if it were

the AMT.

years beginning before 1998

zero. Next, figure a tentative total of

can be carried forward no more

CAUTION

lines 1 through 27 using the tentative

Line 9—Depletion

than 15 years, you cannot carry forward

line 9 amount and treating line 11 as if

to 2011 an ATNOL from a loss

it were zero. Add any domestic

You must refigure your depletion

beginning before 1996.

production activities deduction to this

deduction for the AMT. To do so, use

Note. If you elected under section

tentative total. Your ATNOLD is

only income and deductions allowed for

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

limited to 90% of the result.

the AMT when refiguring the limit based

for the regular tax, the election also

on taxable income from the property

However, the 90% limit does not

applies for the AMT.

under section 613(a) and the limit

apply to an ATNOL that is attributable

based on taxable income, with certain

Line 12—Interest From

to qualified disaster losses (as defined

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

in section 172(j)), qualified Gulf

Private Activity Bonds

Also, your depletion deduction for

Opportunity Zone losses (as defined in

Enter on line 12 interest you earned on

mines, wells, and other natural deposits

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

“specified private activity bonds”

under section 611 is limited to the

assistance losses (as defined in Pub.

reduced (but not below zero) by any

property’s adjusted basis at the end of

4492-A, Information for Taxpayers

deduction that would have been

the year, as refigured for the AMT,

Affected by the May 4, 2007, Kansas

allowable if the interest were includible

unless you are an independent

Storms and Tornadoes), qualified

in gross income for the regular tax.

producer or royalty owner claiming

disaster recovery assistance losses (as

Each payer of this type of interest

defined in Pub. 4492-B, Information for

percentage depletion for oil and gas

should send you a Form 1099-INT

Affected Taxpayers in the Midwestern

wells under section 613A(c). Figure this

showing the amount of this interest in

Disaster Areas), or a 2008 or 2009 loss

limit separately for each property. When

box 9.

that you elected to carry back more

refiguring the property’s adjusted basis,

Generally, the term “specified private

than 2 years under section

take into account any AMT adjustments

activity bond” means any private activity

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

you made this year or in previous years

bond (as defined in section 141) the

that is carried back or carried forward to

that affect basis (other than current

interest on which is not includible in

the tax year is attributable to any of

year depletion).

gross income for the regular tax, if the

those losses, the ATNOLD for the tax

bond was issued after August 7, 1986.

year is limited to the sum of:

Enter the difference between the

But specified private activity bonds

regular tax and AMT deduction. If the

1. The smaller of:

generally do not include any bonds

a. The sum of the ATNOL

AMT deduction is greater, enter the

issued in 2009 or 2010. See section

carrybacks and carryforwards to the tax

difference as a negative amount.

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

year attributable to net operating losses

details.

other than those losses described in 2a

Line 10—Net Operating Loss

Do not include interest on qualified

below, or

Deduction

Gulf Opportunity Zone bonds or

b. 90% of AMTI for the tax year

(figured without regard to the ATNOLD

qualified Midwestern disaster area

If you are filing Form 1040NR, enter

and any domestic production activities

bonds.

your net operating loss deduction from

deduction, as discussed earlier), plus

Form 1040NR, line 21, as a positive

Exempt-interest dividends paid by a

amount.

2. The smaller of:

regulated investment company are

-3-

Instructions for Form 6251 (2011)

Instructions For Form 6251 - 2011 Page 4

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