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AMT Form 1116, line 1a, calculation

Per the Form 6251 instructions, you'll need to adjust the foreign source qualified dividends if both of the following apply:
  • Line 38 of Form 6251 is smaller than line 39.
  • Line 17 of Form 6251 is greater than 0.
You can make an adjustment exception if both of the following apply:
  • The adjustment exception conditions for the regular Form 1116 are met.
  • Line 17 of Form 6251 isn't more than the filing status threshold (refer to the Form 6251 instructions).
    note
    To determine the $20,000 threshold under the adjustment exception, use the capital gains and losses as refigured for the AMT.
Do the following to calculate line 1a adjustments to foreign source qualified dividends and capital gain distributions on AMT Form 1116:
  • For those taxed at 0%, don't include the amounts on line 1a.
  • For those taxed at 15%, multiply the foreign source qualified dividends in each separate category by 0.5357.
  • For those taxed at 20%, multiply the foreign source qualified dividends in each separate category by 0.7143.
  • Don't adjust the amount of any foreign source qualified dividends included on line 4g of AMT Form 4952.
note
A Not Required Statement generates showing the calculation of line 1a. To view this statement, preview or print the return. The calculation of includable capital gains is shown on Form 1116, Worksheet A or B, in the
1116Wrk
 folder in Forms View.

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