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Use Form 6251 to figure the amount, if any, of your alternative minimum tax (AMT). The AMT is a separate tax that is imposed in addition to your regular tax. It applies to taxpayers who have certain types of income that receive favorable treatment, or who qualify for certain deductions, under the tax law.
Information about Form 6251, Alternative Minimum Tax - Individuals, including recent updates, related forms and instructions on how to file. Form 6251 is used by individuals to figure alternative minimum tax. Use this form to figure the amount, if any, of your alternative minimum tax (AMT).
This in-depth guide will walk you through IRS Form 6251, Alternative Minimum Tax-Individuals, and help you understand: How to complete IRS Form 6251; Filing considerations about IRS Form 6251; How the AMT calculation works; How tax planning can help you avoid AMT and lower your total tax bill
Form 6251 is used to determine if taxpayers owe alternative minimum tax instead of standard income tax. The AMT was designed to ensure that the wealthy pay their fair share of taxes.
Form 6251. The IRS imposes the Alternative Minimum Tax (AMT) on certain taxpayers who earn a significant amount of income, but are able to eliminate most, if not all, income from taxation using deductions and credits.
These tax benefits can significantly reduce the regular tax of some taxpayers with higher economic incomes. The AMT sets a limit on the amount these benefits can be used to reduce total tax. Also use Form 6251 to figure your tentative minimum tax (Form 6251, line 9).
Form 6251, “Alternative Minimum Tax—Individuals,” is a tax form that calculates whether you’re liable for paying the alternative minimum tax and if so, how much you should pay. It adds back various tax breaks you might have claimed on your Form 1040 tax return, then determines your taxes owed.