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Dec 29, 2023 · Information about Form 8801, Credit for Prior Year Minimum Tax - Individuals, Estates, and Trusts, including recent updates, related forms, and instructions on how to file. Form 8801 is used to figure the minimum tax credit for AMT incurred in prior years and to figure any credit carryforward.
- Instructions for Form 8801
Use Form 8801 if you are an individual, estate, or trust to...
- 2023 Form 8801
Department of the Treasury Internal Revenue Service. Credit...
- Instructions for Form 8801
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What is form 8801?
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Where can I find IRS Form 8801?
Department of the Treasury Internal Revenue Service. Credit for Prior Year Minimum Tax— Individuals, Estates, and Trusts. Attach to Form 1040, 1040-SR, 1040-NR, or 1041. Go to www.irs.gov/Form8801 for instructions and the latest information.
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Jan 17, 2024 · Use Form 8801 if you are an individual, estate, or trust to figure the minimum tax credit, if any, for alternative minimum tax (AMT) you incurred in prior tax years and to figure any credit carryforward to 2024.
Sep 5, 2023 · You can calculate the amount of the credit on IRS Form 8801, Credit for Prior Year Minimum Tax — Individuals, Estates, and Trusts. In this article, we’ll walk you through what you need to know about this tax form, including: How to complete IRS Form 8801; When you need to file IRS Form 8801; Frequently asked questions
- Credit For Prior-Year Minimum Tax? More Info on Amt Credit Carryforward Option
- When to Use IRS Form 8801
- Where to Go to Get Help with The Amt Credit
The Prior-Year Minimum Tax Credit lets you get back money you paid as an AMT in a prior year. You can only claim this credit in a year when you don’t have to pay AMT. You can’t use the credit to reduce your AMT liability in the future. However, AMT credit carryforward is granted for unused portion of the credit to future years.
Use IRS Form 8801 for these purposes: 1. If you had an AMT liability for something other than an exclusionary item (such as a deferral item) 2. To calculate the minimum tax credit 3. To calculate the amount you can carry over to future years Deferral items include: 1. Depreciation 2. Incentive stock optionsexercised and not sold
Whether you make an appointment with one of our knowledgeable tax pros or choose one of our online tax filingproducts, you can count on H&R Block to help you get back the most money possible.
Mar 1, 2008 · Use Form 8801, Credit for Prior Year Minimum Tax to calculate how much of the AMT you've paid was related to deferral items, which generate credit for future years, as opposed to exclusion...
Follow these steps to generate Form 8801 for an individual return: From the left of the screen, select Credits and choose Recovery Rebate, EIC, Residential Energy, Oth Credits. Click the three dots at the top of the screen and select Minimum Tax. Locate the Minimum Tax Credit (8801) section.
