Calculate alternative minimum tax items for Schedule K-1, Box 12
The application calculates alternative minimum tax items for Schedule K-1, Box 12 as follows.
note
The application only calculates these adjustments if you received the specific type of income mentioned in each code.
- Code A - Adjustment for Minimum Tax Purposes: This is your share of the difference between Schedule I line 42 and Schedule B line 15. You'll report this total amount on Form 6251, line 2j.
- Codes B to F - AMT Adjustments for Specific Income Types: The application calculates these adjustments by multiplying the Code A amount by a ratio. The ratio compares a specific type of income to your total income from Schedule K-1 lines 1, 2a, 3, 4a, 5, 6, 7, and 8.
- Code B - Qualified Dividends: If you received qualified dividends, the application divides your qualified dividends (Schedule K-1 line 2b) by your total income to get the ratio.
- Code C - Net Short-Term Capital Gain: If you had short-term capital gains, the application divides your short-term gains (Schedule K-1 line 3) by your total income to get the ratio.
- Code D - Net Long-Term Capital Gain: If you had long-term capital gains, the application divides your long-term gains (Schedule K-1 line 4a) by your total income to get the ratio.
- Code E - Unrecaptured Section 1250 Gain: If you had unrecaptured section 1250 gains, the application divides these gains (Schedule K-1 line 4c) by your total income to get the ratio.
- Code F - 28% Rate Gain: If you had 28% rate gains, the application divides these gains (Schedule K-1 line 4b) by your total income to get the ratio.
