Hi pk,
Thank you very much for your response. I appreciate.
I will summarize as below (since there are lot too many figures of minor values to give)
So Just to check the bottom line–
All these years when ever(few times) I have FTC, it is not much and this issue of AMTFTC has never came up.
This year as one time affair--I had considerable(passive) Foreign property LTCG as lump sum.
(This was input in form 8949 and Sch D ,Form 1116 ,calculation other method, no AMTFTC adjustments).
The other income is modest and main thing revolved around FTC.
Just I will summarize scenario of 6251 relevant essential points--for your kind review whether TT premier desk top/IRS policy allows skipping forms 1116 AMTFTC and Sch.B of 1116 AMT.
Form6251–
Line 7--2326$(since it bases on LTCG calculation ),Line 8--2124 $, Line 9 is 202$, Line 10 is 2634$ and Line 11 AMT is 'zero' $.(Line 7 is less than Line 10)
(Of course, Form 6251 shows up in the forms tree but finally in preview--for forms’ required for FILING--it is dropped off by TT)
Does this mean it is not mandatory not to include form 1116 AMTFTC and Sch. B of AMTFTC from IRS point of view and TT point of view?
If it is mandatory why TT is not allowing these forms to be included?
Even if it is not mandatory, since AMTFTC shows up in 6251,and since AMTFTC means there is some thing in Carry over also, is it not better include form 1116 AMTFTC, and sch B.
and form 6251 too--as this will help IRS to know there is left out AMTFTC credit for adjustment for future years which we can claim, in case
If it is case how to get the forms on board?
Please share your thoughts.
Thanks again.
