1040-US: Form 6251, line 11

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Question

Where do I enter data for Form 6251, line 11: Alternative tax net operating loss deduction?

Answer

The prior year NOL deduction on Form 1040, Line 21 for regular tax purposes transfers to Line 10 of Form 6251. The NOL deduction for AMT purposes transfers to Form 6251, Line 11. The tax application enters this amount on Screen NOLCO in the 1045 & NOL folder in the AMT NOL column for any year.

In certain scenarios, the AMT NOL deduction may be limited. The Line 11—Alternative Tax Net Operating Loss Deduction (ATNOLD) section of the Form 6251 instructions explains how to calculate the alternative minimum taxable income (AMTI) without regard to the AMT NOL deduction and domestic production activities deduction. This section also explains how to calculate the AMT NOL deduction limit. UltraTax CS prints this calculation in a not required statement with Form 6251.

Note: If you do not have a prior year AMT NOL and you prefer to have an amount on Line 11, enter the desired amount in the AMT NOL deduction (Force) field on Screen AMT in the Taxes folder.

Related Topic:  Form 6251 - Alternative minimum tax FAQs (1040)

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