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i want to send a scan and have a tax person tell me where to enter three amounts on my 1040 return
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3/13/2018
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 33,270
Experience: Taxes, Immigration, Labor Relations
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box 1 Interest income -->> Form 1040, line 8a

2a. Ordinary dividends -->> Form 1040, line 9a
2b. Qualified dividends -->> Form 1040, line 9b

Box 12 code A Adjustment for minimum tax purposes -- >> Form 6251, line 15

Box 12 code B AMT adjustment attributable to qualified dividends -- >> Form 6251, line 27

box 12 code J Exclusion items -->> that will go to your 2018 (not 2017 !!) tax return Form 8801

.

The Alternative Minimum Tax exemption amount for tax year 2017 is $54,300 - so if your income is below that - you will not use form 6251

If you are not using form 6251 - you may ignore all these items.

.

box 14 code E -->> Form 4952, line 4a

Let me know if that helps.

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Customer reply replied 5 months ago
is that 54300 agi or after deductions and exemptions? I have 73,080 in agi but only 27000 is taxed

That is AGI - and that is for a single person - but even if your income is larger - you woudl not necessary use that form.

Only those affected by AMT - alternative minimum tax - are affected.

In your income level - that would be very rare.

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Customer reply replied 5 months ago
but if it is agi, 73,080 is over 54,300 I just have a lot of gifts to charity. I thought the whole point of AMT was to make people with a lot of deductions pay more in taxes. I don't have a big income but my agi is 73,080

That is correct - but not all deductions are excluded fro AMT purposes.

If you are not sure - you may try to prepare form 6251

Or you may this AMT assistance - just to verify

https://www.irs.gov/businesses/small-businesses-self-employed/alternative-minimum-tax-assistant-for-individuals

Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 33,270
Experience: Taxes, Immigration, Labor Relations
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