! preference item taken into account on this line

CAUTION shouldn’t be taken into account in figuring the amount

to enter on any other adjustment or tax preference item line of this form.

For passive activities, see the line 2m instructions instead. For tax shelter farm activities (that aren’t passive), see the line 3 instructions.

Refigure your gains and losses from activities for which you aren’t at risk and basis limitations applicable to

6 Instructions for Form 6251 (2025)

partnerships and S corporations by taking into account all AMT adjustments and preferences that apply. See sections 59(h), 465, 704(d), and 1366(d). Enter the difference between the amount that would be reported for the activity on Schedule C, E, or F or Form 4835 for the AMT and the regular tax amount. If (a) the AMT loss is more than the regular tax loss, (b) the AMT gain is less than the regular tax gain, or (c) you have an AMT loss and a regular tax gain, enter the adjustment as a negative amount.

The AMT amount of any gain or loss from activities

TIP for which you aren’t at risk is likely to differ from the

regular tax amount. Your AMT basis in partnerships and S corporations is also likely to differ from your regular tax basis. Therefore, keep adequate records for both the AMT and regular tax.

Enter any adjustment for amounts reported on Form 8949, Schedule D, Form 4684, or Form 4797 for the activity on line 2k instead of line 2n.

Line 2o—Circulation Costs

Line 2q—Mining Costs