Individuals use Form 6251 to figure their AMT. They also use the
form to figure certain credit limitations.
Use the worksheet in Table 14-1 to see if you
should fill in Form 6251 to figure the amount, if any, of your AMT.
Fill in Form 6251 instead of using the worksheet if you claimed or
received any of the following items.
- Accelerated depreciation.
- Income or (loss) from tax-shelter farm activities or passive
- Net operating loss deduction.
- Stock by exercising an incentive stock option and you did
not dispose of the stock in the same year.
- Tax-exempt interest from private activity bonds.
- Intangible drilling, circulation, research, experimental, or
- Amortization of pollution-control facilities or
- Percentage-of-completion income from long-term
- Interest paid on a home mortgage not used to buy,
build, or substantially improve your home.
- Investment interest expense reported on Form
- AMT adjustments from an estate, trust, electing large
partnership, or a cooperative.
- Section 1202 exclusion.
After you fill in Form 6251, see Who Must File in the
form instructions to see if you need to attach it to your tax return.
Child under age 14.
Fill in Form 6251 for a child under age 14 if the child's adjusted
gross income from Form 1040, line 34, exceeds the child's earned
income by more than $5,350.
Earned income credit.
If you claim an earned income credit, you must reduce it by any
Figuring credit limitations.
Although you may not owe AMT, you generally must still figure your
tentative minimum tax on Form 6251 to figure certain credits. Fill in
Form 6251 if you claim any of the following credits.
- Any general business credit
(see chapter 9).
- The qualified electric vehicle credit
(see chapter 12 in Publication 535).
- The nonconventional source fuel credit (see section 29 of
the Internal Revenue Code).
- The credit for prior year minimum tax (discussed later).
After you fill in Form 6251, attach it to your tax return.