Tax Preference Items for the Alternative Minimum Tax

The following are the Alternative Minimum Tax items that require an individual to complete Form 6251, Alternative Minimum Tax and possibly pay the AMT:

• Medical and dental
• Taxes from Schedule A, including state and local income taxes or general sales taxes, real estate taxes and personal property taxes.
• Home mortgage interest adjustment
• Miscellaneous deductions 2-percent floor
• State and local tax refunds
• Investment interest expense
• Depletion
• Net operating loss deduction (Regular tax NOLs)
• Alternative tax net operating loss deductions (AMT NOLs)
• Interest from specified private activity bonds exempt from the regular tax
• Qualified small business stock, capital gains exclusion (section 1202)
• Incentive stock options exercised
• Estates and trusts
• Electing large partnerships
• Disposition of property
• Post-1986 depreciation
• Passive activities
• Loss limitations
• Circulation costs
• Long-term contracts
• Mining costs
• Research and experimental costs
• Income from certain installment sales
• Intangible drilling costs preference
• Other adjustments, including income-based related adjustments