Form Ia 6251 - Minimum Tax Computation - 2006
Download a blank fillable Form Ia 6251 - Minimum Tax Computation - 2006 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form Ia 6251 - Minimum Tax Computation - 2006 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1Reset Form
Print Form
Iowa Department of Revenue
IA 6251 2006
Iowa Minimum Tax Computation
Name(s) as shown on IA 1040 (or IA 1041):
Social Security No.
PART 1: Adjustments and Preferences, see instructions
If you itemized deductions on Schedule A, start on line 1. If you did not itemize on your IA 1040, start on line 7.
1. Medical and dental (line 2, federal form 6251) .............................................................................................. 1 . __________________
2. Taxes (line 3, federal form 6251 less any Iowa income tax) ....................................................................... 2 . __________________
3. Certain interest on a home mortgage not used to build, buy, or improve your home (line 4, federal form 6251) ........ 3. __________________
4. Miscellaneous itemized deductions (line 5, federal form 6251) ................................................................. 4 . __________________
5. Refund of taxes (line 7, federal form 6251 less any Iowa income tax) ..................................................... 5 . __________________
6. Investment interest (line 8, federal form 6251 less interest and expense related to private
activity bonds issued after 8/7/86) .................................................................................................................. 6 . __________________
7. Post - 1986 depreciation (line 17, federal form 6251) .................................................................................. 7 . __________________
8. Adjusted gain or loss (line16, federal form 6251) ......................................................................................... 8 . __________________
9. Incentive stock options (line 13, federal form 6251) ..................................................................................... 9 . __________________
10. Passive activities (line 18, federal form 6251) .............................................................................................. 10. __________________
11. Beneficiaries of estates and trusts (line 14, federal form 6251) ................................................................ 11. __________________
12. Enter the amount for each corresponding item from federal form 6251. Enter total on line 12.
a.
a. ___________
h.
h. __________
Circulation expenditures (line 20) .
Patron’s adjustment ................................
b.
b. ___________
i.
i. __________
Depreciation (pre-1987) .............
Pollution control facilities .......................
c.
c. ___________
j.
j. __________
Installment sales (line 24) .........
Research and experimental (line 23) ...
d.
d. ___________
k.
k. __________
Large partnerships (line 15) ......
Section 1202 exclusion (line 12) ..........
e.
e. ___________
l.
l. __________
Long-term contracts (line 21) ....
Tax shelter farm activities ......................
f.
f. ___________
m.
Loss limitations (line 19) .............
Related adjustments (see inst.) (line 26) . m. ___________
g.
g. ___________
12. __________________
Mining costs (line 22) .................
13. Total Adjustments and Preferences. Combine lines 1 through 12 ......................................................... 13. __________________
PART II: Alternative Minimum Taxable Income
14. Taxable income (from IA 1040, line 42; or IA 1041, line 22) ...................................................................... 14. __________________
15. Net operating loss deduction. Do not enter as a negative amount ............................................................ 15. __________________
16. If federal AGI, plus any IA Bonus Depreciation adjustment is more than $150,500 (more than $75,250 if
married filing separately for federal purposes), see instructions for amount to enter on this line .................... 16.( ________________ )
17. Combine lines 14, 15 and 16 ............................................................................................................................ 17. __________________
18. Add lines 13 and 17 ............................................................................................................................................ 18. __________________
19. Alternative tax net operating loss deduction (see instructions) ................................................................. 19. __________________
20. Alternative Minimum Taxable Income. Subtract line 19 from line 18 ........................................................ 20. __________________
PART III: Exemption Amount and Alternative Minimum Tax
21. Enter $35,000 (*$17,500 if filing status 3 or 4; $26,000 if single, head of household or qualifying widow(er) ... 21. __________________
22. Enter $150,000 (*$75,000 if filing status 3 or 4; $112,500 if single, head of household or qualifying widow(er) ....... 22. __________________
23. Subtract line 22 from line 20. If the result is zero or less, enter zero ....................................................... 23. __________________
24. Multiply line 23 by 25% (0.25) .......................................................................................................................... 24. __________________
25. Subtract line 24 from line 21. If result is zero or less, enter zero .............................................................. 25. __________________
26. Subtract line 25 from line 20 ............................................................................................................................. 26. __________________
27. Multiply line 26 by 6.7% (0.067) ....................................................................................................................... 27. __________________
28. Regular tax after credits. See instructions. .................................................................................................... 28. __________________
29. Iowa Minimum Tax. Subtract line 28 from line 27, enter here and on IA 1040, line 45 (or IA 1041,
line 25.) See instructions for Minimum Tax Limited to Net Worth. If less than zero, enter zero ......... 29. __________________
PART IV: NONRESIDENTS AND PART-YEAR RESIDENTS ONLY - Complete lines 30 - 33.
30. Enter Iowa net income plus Iowa adjustments and preferences (see instructions). If less than zero, enter zero. ..... 30. __________________
31. Total net income plus total adjustments and preferences (see instructions) ........................................... 31. __________________
32. Divide line 30 by line 31 and enter the result to three (3) decimal places ............................................... 32. __________________
33. Iowa Minimum Tax. Multiply line 29 by line 32. Enter here and on IA 1040, line 45 (or IA 1041,
line 25). See instruction for Minimum Tax Limited to Net Worth. If less than zero, enter zero. ......... 33. __________________
*Exemption levels of $17,500 and $75,000 on lines 21 and 22, respectively, also apply to an estate or trust.
41-131a (08/09/06)
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial