- 12 -
|
Page 12 of 14 Fileid: … ions/i6251/2022/a/xml/cycle04/source 13:12 - 11-May-2023
The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing.
5. Enter the amount from Form AMTFTC. If you do, when figuring your Schedule D is different for the AMT (for
6251, line 33, on line 6 of the worksheet. AMTFTC, you will use the same net example, because of a different basis
6. Multiply line 6 of the worksheet by foreign source income for AMT that you for the AMT due to depreciation
0.2857 (instead of the number used for used for regular tax. (The amount on adjustments, an ISO adjustment, or a
regular tax). Enter the result on line 7 of line 17 of your AMT Form 1116 will be different AMT capital loss carryover
the worksheet. the same as the amount on line 17 of from 2021).
your regular tax Form 1116.) You must 2. You didn’t complete either the
7. Enter the amount from Form make the election for the first tax year Qualified Dividends and Capital Gain
6251, line 30, on line 8 of the worksheet. after 1997 for which you claim an Tax Worksheet or the Schedule D Tax
8. Multiply line 8 of the worksheet by AMTFTC. If you don’t make the election Worksheet because Form 1040, Form
0.4643 (instead of the number used for for that year, you may not make it for a 1040-SR, or Form 1040-NR, line 15, is
regular tax). Enter the result on line 9 of later year. Once made, the election zero.
the worksheet. applies to all later tax years and may be
9. Enter the amount from Form revoked only with IRS consent. 3. You received a Schedule K-1
(Form 1041) that shows an amount in
6251, line 23, on line 10 of the box 12 with code B, C, D, E, or F.
Line 10
worksheet.
If you file Form 8978, Partner's Then, use the following instructions
10. Complete lines 11 and 12 of the Additional Reporting Year Tax, you will that apply to you.
worksheet, as instructed on the need to decrease the amount you report • If none of the statements apply, go to
worksheet. on Form 6251, line 10, by any negative None of the statements apply, later.
11. Enter the amount from your AMT amount reported on Form 8978, line 14 • If only statement (2) applies, go to
Worksheet for Line 18 on your AMT (treated as a positive number). If any Only statement (2) applies, later.
Form 1116, line 18. additional guidance is provided related • If statement (3) applies (by itself or in
to reporting amounts from Form 8978 combination with statement (1) or (2)),
Step 5. Enter the amount from Form on Form 6251, we will post it at IRS.gov/ go to Beneficiaries of estates or trusts
6251, line 7, on the AMT Form 1116, Form6251 under Recent Developments. first, then go to Statement (1) or (3)
line 20. Complete lines 19 through 24 of
applies, later.
the AMT Form 1116. If you file Schedule J, Income
Step 6. Complete Part IV of the first Averaging for Farmers and Fishermen, • For all other situations, go to
Statement (1) or (3) applies, later.
AMT Form 1116 only. to figure your tax on Form 1040,
1040-SR, or 1040-NR, line 16, you must None of the statements apply. If (1),
Enter on Form 6251, line 8, the refigure that tax (including any tax from (2), or (3) don’t apply, then for Part III of
amount from line 35 of the first AMT Form 8814) without using Schedule J these instructions, the AMT versions of
Form 1116. before completing this line. This is only your Qualified Dividends and Capital
for Form 6251; don’t change the amount Gain Tax Worksheet, Schedule D Tax
Attach to your tax return, after Form on Form 1040, 1040-SR, or 1040-NR, Worksheet, Unrecaptured Section 1250
6251, all AMT Forms 1116 (and if line 16. Gain Worksheet, 28% Rate Gain
applicable Schedule B (Form 1116)) Worksheet, and Schedule D will be the
you used to figure your AMTFTC. But Form 1040-NR. If you are filing Form
same as those you used for regular tax
don’t attach AMT Forms 1116 if your 1040-NR, add Form 1040-NR, line 16
purposes. Use the regular tax amounts
AMTFTC is the same as your regular (minus any tax from Form 4972, Tax on
to complete lines 13, 14, and 15.
tax foreign tax credit. Lump-Sum Distributions) and Schedule
2 (Form 1040), line 2. Subtract from the If you filed Form 2555, see Form
result Schedule 3 (Form 1040), line 1 2555, later, for additional modifications
AMTFTC Carryback and you may have to make before entering
and any negative amount reported on
Carryforward Form 8978, line 14 (treated as a positive amounts on lines 13, 14, and 15.
number). If zero or less, enter -0-. If you Statement (1) or (3) applies. If (1)
If your AMTFTC is limited, the unused file Schedule J to figure your tax on applies, complete all of the following
amount may generally be carried back Form 1040-NR, line 16, refigure that tax steps. If (3) applies, but (1) doesn’t,
or forward according to section 904(c). without using Schedule J before complete steps 2 through 4 only.
No AMTFTC carryback or carryfor- completing Form 6251, line 10 (see
ward allowed in 2022. If you made the preceding paragraph). Step 1. Complete an AMT Form
8949 or, if applicable, lines 1a and 8a of
election to claim the foreign tax credit on Line 11 an AMT Schedule D, by refiguring, for
your 2022 tax return without filing Form
1116, any unused AMTFTC for 2022 If you are filing Form 1040-NR, enter the example, your basis for the AMT.
can’t be carried back or forward. In amount from line 11 on Schedule 2
Step 2. Complete lines 1b through
addition, you can’t claim any unused (Form 1040), line 1.
20 of an AMT Schedule D.
AMTFTC from another year in 2022.
For more information about electing Part III—Tax Computation Step 3. Complete lines 2 through 4
to claim your foreign tax credit without Using Maximum Capital of an AMT Qualified Dividends and
Capital Gain Tax Worksheet or lines 2
filing Form 1116, see the Instructions for Gains Rates through 13 of an AMT Schedule D Tax
Form 1116.
Lines 13, 14, and 15 Worksheet, whichever applies. (See
line 20 of your AMT Schedule D, if you
Simplified Limitation Election Determine if any of the following
completed one, to determine which
statements apply.
worksheet applies.)
You may elect to use a simplified 1. The gain or loss from any
section 904 limitation to figure your transaction reported on Form 8949 or
-12- Instructions for Form 6251 (2022)
|