Whether to file 6251

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  • #5305
    wanttoknow
    Participant

    I have to fill out Form 6251 only because of private activity bond interest, but line 11 “AMT” turns out to be zero.

    “Who Must File” of the 6251 instructions says to file 6251 if any of four things are true. None are.

    Line 11 of Form 6251 says to enter the zero result on Schedule 2, line 1. Schedule 2, line 1 says to file the 6251.

    Should I file the 6251 or not?

    #5306
    kaneohe
    Participant

    Sounds like a curse to fill out a form only to find a 0 results.

    I would use a tax calculator like this one
    https://www.mortgagecalculator.org/calcs/1040-calculator.php

    to calculate your tax. You can expand the Total Tax Before Credits by press on the V on the right hand side which will bring up the AMT.
    If it is 0, I would not bother filing the 6251. It only serves a purpose
    if the AMT if > 0. When the law was changed a few yrs ago, the AMT became much less likely for many.

    Also since you don’t meet any of the requirements to file, why complicate your life and theirs.

    • This reply was modified 1 year, 6 months ago by kaneohe.
    #5308
    Kaye Thomas
    Moderator

    The “Who Must File” section of the instructions serves two purposes: getting people to file the forms the IRS wants, and discouraging people from filing forms they don’t want to receive. There’s nothing to be gained by adding this form to your return.

    #6634
    Lewis-H
    Participant

    You may need to file Form 6251 if you have specific AMT items. If you need to report any of the following items on your tax return, you must file Form 6251, Alternative Minimum Tax, even if you do not owe AMT. Home mortgage interest on a loan that you did not use to buy, build or improve your home.
    Married filing jointly: $83,400
    Married filing separately: $41,700
    Head of Household: $53,600

    Accountant
    Apps4Rent

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