Complete each section as directed. Be sure to include the personal and business assets and liabilities of both spouses. IA 6251B should be completed by those eliminating the distressed sale transaction from net income and those limiting their tax liability to their net worth. This form should also be completed by persons and corporations claiming the refund for livestock production on the IA 132.
Note: The balance sheet should be completed on the basis of the accounting method (cash or accrual) used by the taxpayer.