Level 1
Yes, I read the Form P(540) instructions as well, but, it was not 100% clear as it used the word "Generally" with respect whether line 9 would be filled in due to gain of stock. It would seem, based on Step 1, that there should be an adjusted basis for the asset (stock) sold, just as there was one entered on Form 6251, line 17.
0 Cheers