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#3
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| Thanks for the clarification. As a non-finance person, myself, I found this form a bit confusing, but could figure it out. I really appreciate your helpful input very much. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#2
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| They are automatically negative due to the ( ) around the entries on the form. Therefor, you subtract them from the total. ed << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#1
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| agal[at]emory.edu writes: - quote - > Just a quick question: I'm filling out 6251 for AMT for the
The parentheses mean "negative number". It's a standard> 1st time and need help for lines 6 & 7 with the parentheses. accounting convention. - quote - > In figuring my taxes, I did it manually and again by using
The instructions don't mention it because the pre-printed> Tax Cut. This tax preparation program puts these values as > negative, so I presume these are to deducted, rather than > added. Yet, the instructions for form 6251 make no mention > that they should be subtracted.... parentheses mean subtraction by definition. -- Rich Carreiro rlcarr[at]animato.arlington.ma.us << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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| agal[at]emory.edu wrote: - quote - > Just a quick question: I'm filling out 6251 for AMT for the
The values entered in line 6 and 7 are negative. For> 1st time and need help for lines 6 & 7 with the parentheses. > In figuring my taxes, I did it manually and again by using > Tax Cut. This tax preparation program puts these values as > negative, so I presume these are to deducted, rather than > added. Yet, the instructions for form 6251 make no mention > that they should be subtracted.... so when I first did this > form by hand I added these amounts, and this increased my > AMT significantly. What's correct? everyone. So as you sum up all the lines 1 thru 27, you'd subtract the number itself. (e.g. adding "-3000" in a list of numbers is the same as subtracting "3000".) JOE << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#-1
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| Just a quick question: I'm filling out 6251 for AMT for the 1st time and need help for lines 6 & 7 with the parentheses. In figuring my taxes, I did it manually and again by using Tax Cut. This tax preparation program puts these values as negative, so I presume these are to deducted, rather than added. Yet, the instructions for form 6251 make no mention that they should be subtracted.... so when I first did this form by hand I added these amounts, and this increased my AMT significantly. What's correct? Thanks << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| 6251, amt, calculations, form |
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