I have some questions on how to calculate AMT 6251, line 16. Assume no form 4797, no form 4684, no ISOs. Assume in 2005 a salary of $50K. And a LT cap loss of $103K (from sale of stock), no cap gains, no ST loss. So, 2005 uses up only $3K of that cap loss, and $100K LT loss is carried forward to
2006. For 2006, assume a salary of $50K. And, in 2006 assume a LT cap gain of $100K (from sale of stock), no ST gain, no cap loss. The sch D for 2006 uses the $100K carryover to reduce the 2006 net cap gain to $0K. Ok, that is all clear to me. This is where it gets fuzzy.
6251, line 16 says to "refigure Sch D for the AMT", and "fill out an AMT Capital Loss Carryover Worksheet in the Sch D instructions". I cannot find the "AMT Capital Loss Carryover Worksheet in the Sch D instructions". I suspect that they meant use the "Capital Loss Carryover Worksheet in the Sch D instructions", using AMT adjustments. Right? In this example, there are no AMT adjustments (I believe), so the AMT cap loss carryover is the same as the regular cap loss carryover? Is that right? And, when you "refigure Sch D for the AMT", you refigure Sch D using the AMT cap loss carryover? And, since the Sch D had no AMT adjustments, the AMT net cap gain is $0K. And, the result is that line 16, 6251 is $0K, correct? Is there a .gov document that explains clearly how to calculate line 16?
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