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Investments glossary

Form 6251: Alternative Minimum Tax—Individuals Definition

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Quotes of the day:

Truth may be stretched, but cannot be broken, and always gets above falsehood, as does oil above water.

— Miguel Cerbantes

Form 6251 is an Internal Revenue Service (IRS) tax form used to determine the amount of alternative minimum tax (AMT) that a taxpayer may owe. Some taxpayers with higher incomes can claim certain deductions that allow them to reduce their regular tax obligation. The AMT sets an upper limit on how much that deduction can be to ensure the wealthy pay their fair share of taxes. If you are among those to whom it applies, you’ll pay the AMT instead of standard income taxes.


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