Get Form 6251

The American Taxpayer Relief Act of 2012 (ATRA, P.L. 112-240) permanently indexed the AMT based on the FY2012 exemption amounts. ATRA set the exemption amounts for 2012 at $50,600 for single filers and $78,750 for joint filers.

Purpose of Form Use Form 6251 to figure the amount, if any, of your alternative minimum tax (AMT). The AMT 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 and its separate instructions is at .irs.gov/form6251. ▶ Attach to Form 1040 or Form 1040NR. Part I Alternative Minimum Taxable Income (See instructions for how to complete each line.)

When you complete Form 6251, you must attach it to your personal tax return. However, you must also transfer the amount of AMT you are liable for to your Form 1040. Your Form 1040 has a specific line item where you can report the AMT so that your total tax is reported on the tax return.

You're not required to sign Form 6251. Just be sure to include it when you file your tax return if your income was over the thresholds detailed above. The instructions and directions included on Form 6251 are very precise and extensive, but reach out to a tax professional if you're confused by anything or need help.

The alternative minimum tax, or AMT, is a different, yet parallel, method to calculate a taxpayer's bill. It applies to people whose income exceeds a certain level and is intended to close the loopholes that allow them to reduce or eliminate their tax payments.

The American Taxpayer Relief Act of 2012 (ATRA, P.L. 112-240) permanently indexed the AMT based on the FY2012 exemption amounts. ATRA set the exemption amounts for 2012 at $50,600 for single filers and $78,750 for joint filers.

The Alternative Minimum Tax (AMT) was designed to keep wealthy taxpayers from using loopholes to avoid paying taxes. But because it was not automatically updated for inflation, more middle-class taxpayers were getting hit with the AMT each year.