Discussion:Alternative Minimum Tax - ISOP
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Discussion Forum Index --> Tax Questions --> Alternative Minimum Tax - ISOP
| 28 December 2005 | |
| My questions concern Form 6251 as well as Form 8801 on AMT - I will breakdown in 3 parts:
1) By filing Form 8801 for credit, is the taxpayer entitled to get ALL the AMT tax paid back? Specifically, on Incentive Stock Option Plan (ISOP) when all shares are sold, should one be getting ALL the AMT credit that was carried forward from previous years? 2) When ISOP stocks are sold (previously paid AMT on these) for the amount that results in a much lower Regular Capital Gain of $6,000 than that of AMT Capital Gain - in fact, results in AMT Capital Loss of $10,000 instead: How is the AMT loss accounted for on Line 16 of Form 6251, negative or positive? 3) Should Self-Employed Health Insurance be entered as negative or positive amount on Line 26 Form 6251? And should the amount be the deducted amount shown on the first page of Form 1040 OR the total amount paid (which includes the remainder in Sch. A)? | |
