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The referenced form in TurboTax is Schedule D, the box titled "2021 Capital Loss Information Smart Worksheet". Line E reads: "Alternative minimum taxable income before exemptions. (2021 Form 6251, line 4 ..... [________]". This field should have carried over from 2021 Form 6251. It is blank, as there is no Form 6251 on my 2021 Return.
Form 6251 is used by taxpayers to calculate their AMT or to determine if they are subject to it. 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.
Report $0 if the 2021 IRS form 6251 Alternate Minimum Tax - Individuals is blank.
The Form 6251 is scheduled to be available on 02/18/2021. The IRS will not start accepting or rejecting any 2020 tax returns until on and after 02/12/2021. February 8, 2021 5:13 AM. 0.
Regular FTC Limitation = Tax (without ftc) x [Foreign Source Income / Total Worldwide Income] [b] ADDITIONALLY IF you have AMT taxes then you will see: (1) 6251 AMT Tax form (2) AMT Form 1116 Now on the AMT Form 1116 one has to calculate AMT FTC Limitation - i.e. the max FTC allowed for the year, rest you will have to carryforward.
My form 6251 for AMT is not calculating a number for Line 10. Line 6 says: "Subtract line 5 from line 4. If more than zero , go to line 7. If zero or less, enter -0- here and on lines 7,9, and 11 and go to line 10." My line 6 is zero or less.
Form 6251 Alternative Minimum Tax (AMT), is used to determine the amount of alternative minimum tax (AMT) that a taxpayer may owe. If you don't have form 6251 and you didn't pay any AMT, you can delete the form.
The notice provides side-by-side values of how Turbo Tax calculates Adjusted Gross income (Form 1040 line 11) and how the IRS calculated it. They are identical.
The "AMT Assistant" online IRS tool indicates I must file Form 6251 for 2017; however, I already e-filed with Turbo Tax but my return did not include
IRS appears to require a 6251 form for persons who claim an EV charging station. However, I discovered that my desktop copy of turbotax for 2021 doesn't have the forms, yet. Does Intuit know when the forms are projected to be available?