Instructions For Form 6251 - Alternative Minimum Tax-Individuals

Line 12—Interest From Private

unless you are an independent

qualified disaster losses before

producer or royalty owner claiming

December 19, 2004 (as defined in

Activity Bonds

percentage depletion for oil and gas

section 172(j)), qualified Gulf

Enter on line 12 interest income from

wells under section 613A(c). Figure this

Opportunity Zone losses (as defined in

“specified private activity bonds”

limit separately for each property. When

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

reduced (but not below zero) by any

refiguring the property's adjusted basis,

assistance losses (as defined in Pub.

deduction that would have been

take into account any AMT adjustments

4492-A, Information for Taxpayers

allowable if the interest were includible

you made this year or in previous years

Affected by the May 4, 2007, Kansas

in gross income for the regular tax. Each

that affect basis (other than current year

Storms and Tornadoes), qualified

payer of this type of interest should

depletion).

disaster recovery assistance losses (as

send you a Form 1099-INT showing the

defined in Pub. 4492-B, Information for

Enter the difference between the

amount of this interest in box 9.

Affected Taxpayers in the Midwestern

regular tax and AMT deduction. If the

Disaster Areas), or a 2008 or 2009 loss

Generally, the term “specified private

AMT deduction is more than the regular

that you elected to carry back more than

activity bond” means any private activity

tax deduction, enter the difference as a

2 years under section 172(b)(1)(H).

bond (as defined in section 141) the

negative amount.

Therefore, if an ATNOL that is carried

interest on which isn’t includible in gross

Line 10—Net Operating Loss

back or carried forward to the tax year is

income for the regular tax, if the bond

attributable to any of those losses, the

Deduction

was issued after August 7, 1986. But

ATNOLD for the tax year is limited to the

specified private activity bonds

If you are filing Form 1040NR, enter

sum of:

generally don’t include any bonds

your net operating loss deduction from

issued in 2009 or 2010. See section

1. The smaller of:

Form 1040NR, line 21, as a positive

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

amount.

a. The sum of the ATNOL

details.

carrybacks and carryforwards to the tax

Line 11—Alternative Tax Net

year attributable to net operating losses

Don’t include interest on qualified

Operating Loss Deduction

other than those losses described in 2a

Gulf Opportunity Zone bonds or

(ATNOLD)

below, or

qualified Midwestern disaster area

bonds.

The ATNOLD is the sum of the

b. 90% of AMTI for the tax year

alternative tax net operating loss

(figured without regard to the ATNOLD

Exempt-interest dividends paid by a

(ATNOL) carrybacks and carryforwards

and any domestic production activities

mutual fund or other regulated

to the tax year, subject to the limitation

deduction, as discussed earlier), plus

investment company are treated as

explained later. Figure your ATNOLD as

2. The smaller of:

interest income on specified private

follows.

activity bonds to the extent the

a. The sum of the ATNOL

Your ATNOL for a loss year is the

dividends are attributable to interest on

carrybacks and carryforwards to the tax

excess of the deductions allowed for

the bonds received by the company,

year attributable to qualified disaster

figuring AMTI (excluding the ATNOLD)

minus an allocable share of the

losses, qualified Gulf Opportunity Zone

over the income included in AMTI.

expenses paid or incurred by the

losses, qualified recovery assistance

Figure this excess with the

company in earning the interest. This

losses, qualified disaster recovery

modifications in section 172(d), taking

amount should be reported to you on

assistance losses, and any 2008 or

into account your AMT adjustments and

Form 1099-DIV in box 11.

2009 loss that you elected to carry back

preferences (that is, the section 172(d)

more than 2 years under section 172(b)

If you are filing Form 8814, Parents'

modifications must be separately

(1)(H), or

Election To Report Child's Interest and

figured for the ATNOL). For example,

b. 100% of AMTI for the tax year

Dividends, include on this line any

the limitation of nonbusiness deductions

(figured without regard to the ATNOLD

tax-exempt interest income from line 1b

to the amount of nonbusiness income

and any domestic production activities

of that form that is a preference item.

must be separately figured for the

deduction, as discussed earlier)

ATNOL, using only nonbusiness income

Line 13—Qualified Small

reduced by the amount determined

and deductions that are included in

Business Stock

under (1).

AMTI.

If you claimed the exclusion under

Enter on line 11 the smaller of the

Your ATNOLD may be limited. To

section 1202 for gain on qualified small

ATNOLD or the ATNOLD limitation.

figure the ATNOLD limitation, you must

business stock acquired before

Enter it as a negative amount.

first figure your AMTI without regard to

September 28, 2010 and held more

the ATNOLD and any domestic

than 5 years, multiply the excluded gain

Any ATNOL not used may be carried

production activities deduction. To do

(as shown on Form 8949 in column (g))

back 2 years or forward up to 20 years.

this, first figure a tentative amount for

by 7% (0.07). Enter the result on line 13

In some cases, the carryback period is

line 9 by treating line 11 as if it were

as a positive amount.

longer than 2 years; for details, see Pub.

zero. Next, figure a tentative total of

536.

Line 14—Exercise of Incentive

lines 1 through 27 using the tentative

The treatment of ATNOLs doesn’t

Stock Options

line 9 amount and treating line 11 as if it

affect your regular tax NOL. However, if

were zero. This is your AMTI figured

For the regular tax, no income is

you elected under section 172(b)(3) to

without regard to the ATNOLD. Add any

recognized when an incentive stock

forgo the carryback period for the

domestic production activities deduction

option (ISO), as defined in section

regular tax, the election also applies for

to this tentative total. Your ATNOLD is

422(b), is exercised. However, this rule

the AMT.

limited to 90% of the result.

doesn’t apply for the AMT. Instead, you

However, the 90% limit doesn’t apply

generally must include on line 14 the

to an ATNOL that is attributable to

excess, if any, of:

-4-

Instructions for Form 6251 (2017)

Instructions For Form 6251 - Alternative Minimum Tax-Individuals - 2017 Page 4

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