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Subject:   Incentive Stock Options
Date:   Tue, 3 Jul 2001
From:   Gregg

Hi!!

When calculating the adjusted gain or loss on Line 9 of Form 6251-AMT, do you know if the AMT loss limited to $3,000??

Gregg Bernicker

Answer

Date:   Mon, 9 Jul 2001

Hello Gregg,

Yes. See the instructions to Form 6251. AMT capital gains and losses are computed on a separate Schedule D, and the $3,000 capital loss limitation separately computed and applied for AMT.

Good luck!

Mike Gray

For more information about incentive stock options, request our free report, Incentive Stock Options - Executive Tax and Financial Planning Strategies.

IRS Circular 230 Disclosure: As required by U.S. Treasury Regulations, you are hereby advised that any written tax advice contained in this answer was not written or intended to be used (and cannot be used) by any taxpayer for the purpose of avoiding penalties that may be imposed under the U.S. Internal Revenue Code.