What do I do with AMT adjusted income?

April 22, 2005

Date:   Fri, 25 Mar 2005
From:   Jasbir

Hi Mike,

I was granted some stock options in 2000. I exercised the options and the stock is sitting in a brokerage account. I have a letter from the broker saying that I have AMT adjusted income. What do I do with this income?



Date:   Fri, 08 Apr 2005

Hello Jasbir,

It sounds like you have exercised an incentive stock option. The AMT income is reported on line 13 of Form 6251, Alternative Minimum Tax – Individuals.

You don’t seem to have a clue what you are dealing with. Maybe you should hire a professional (like us) to help you.

Good luck!

Mike Gray

For more information about incentive stock options, request our free report, Incentive Stock Options – Executive Tax and Financial Planning Strategies.

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