Get the free 2012 form 6251

Form Alternative Minimum Individuals 6251 Department of the Treasury Internal Revenue Service (99) Information OMB No. 15450074 Name(s) shown on Form 1040 or Form 1040NR Part I 2012 about Form 6251

How to fill out 2012 form 6251

How to Fill out 2012 Form 6251:

1. Gather all necessary information and documentation such as W-2 forms, 1099 forms, and any other relevant financial records.
2. Start by filling out the taxpayer information section at the top of the form, including your name, address, and Social Security number.
3. Move on to Part I - Alternative Minimum Taxable Income. Calculate your AMTI by following the instructions provided on the form and enter the appropriate amounts.
4. Proceed to Part II - Alternative Minimum Tax Computation. Use the worksheet provided to calculate your AMT, taking into account exemptions and deductions.
5. Transfer the AMT calculated in Part II to line 28 of Form 6251.
6. Complete Part III - Tentative Minimum Tax. Follow the instructions on the form to calculate the tentative minimum tax.
7. Compare the tentative minimum tax to your regular tax liability on line 44 of Form 1040. If your tentative minimum tax is less than your regular tax liability, you don't need to make any further adjustments.
8. If your tentative minimum tax is greater than your regular tax liability, you may need to pay the alternative minimum tax. Follow the instructions for Form 6251 to determine the amount to pay or request a refund if you paid too much AMT in the past.
9. Double-check all the information entered on the form for accuracy, including calculations and personal details.
10. Sign the completed Form 6251 and attach it to your tax return.

Who needs 2012 Form 6251:

1. Individuals who have certain types of income and deductions may be required to file Form 6251.
2. Form 6251 is specifically designed for taxpayers who may be subject to the alternative minimum tax (AMT).
3. The AMT is a separate tax system that operates alongside the regular tax system, and certain taxpayers must calculate their tax liability under both systems.
4. Generally, if you have significant deductions or certain types of income, such as tax-exempt interest or capital gains, you may be more likely to be subject to the AMT.
5. It is essential to review the instructions for Form 6251 or consult a tax professional to determine whether you need to file this form for the tax year 2012 based on your specific financial circumstances.

For pdfFiller’s FAQs

What is form 6251?

Form 6251 is the Alternative Minimum Tax form used by individuals to calculate their tax liability.

Who is required to file form 6251?

Individuals who meet certain criteria set by the IRS are required to file form 6251.

How to fill out form 6251?

Form 6251 must be filled out according to the instructions provided by the IRS, detailing income and deductions to calculate alternative minimum tax.

What is the purpose of form 6251?

The purpose of form 6251 is to ensure that individuals pay a minimum amount of tax, even if deductions would otherwise reduce their tax liability to zero.

What information must be reported on form 6251?

Information such as income, adjustments, exemptions, and tax preferences must be reported on form 6251.

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