What goes on line 9 for form 6251?
June 6, 2002
Subject: Line 9 of AMT form 6251
Date: Tue, 12 Feb 2002
Dear Mr. Gray,
I’m confused on what applies for line 9 of form 6251. If I have a large capital loss (which is all from sale of stocks this year and carryover from prior year losses) on Schedule D, and I reported a $3000 loss on Form 1040, does that mean I can enter the remaining loss on Line 9? If so, that would offset my ISOs.
Date: 27 February 2002
You should prepare Schedule D on both an AMT basis and a regular tax basis. The difference in the gain or loss is entered at line 9. The $3,000 capital loss limitation applies for both regular tax and alternative minimum tax. See the instruction for Form 6251, where this is highlighted this year.