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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
Mar 1, 2008 · Form 8801. To claim the refundable and nonrefundable parts of this credit, use the 2007 Form 8801, Credit for Prior Year Minimum Tax -- Individuals, Estates, and Trusts. Tax software, such...
Mar 7, 2024 · This document offers comprehensive guidance on completing Form 8801 for the year 2023, including eligibility, form purpose, and step-by-step instructions for each section. Form 8801 is utilized by individuals, estates, and trusts to determine the minimum tax credit for alternative minimum tax (AMT) incurred in prior years and calculate any ...
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When to Use IRS Form 8801. Use IRS Form 8801 for these purposes: If you had an AMT liability for something other than an exclusionary item (such as a deferral item) To calculate the minimum tax credit; To calculate the amount you can carry over to future years; Deferral items include: Depreciation; Incentive stock options exercised and not sold ...
Department of the Treasury Internal Revenue Service. Credit for Prior Year Minimum Tax— Individuals, Estates, and Trusts. Go to www.irs.gov/Form8801 for instructions and the latest information. Attach to Form 1040, 1040-SR, 1040-NR, or 1041. OMB No. 1545-1073.
For the latest information about developments related to Form 8801 and its instructions, such as legislation enacted after they were published, go to www.irs.gov/form8801. General Instructions Purpose of Form Use Form 8801 if you are an individual, estate, or trust to figure the minimum tax credit, if any, for alternative minimum tax (AMT)
Nov 20, 2023 · This credit, calculated on Form 8801: Credit for Prior Year Minimum Tax calculates how much of the AMT was related to deferral items, which generate credit for future years, as opposed to exclusion items which are not deductible for AMT, and consequently are lost.
