Topic: amt

What is the 'credit for prior year minimum tax' (Form 8801)?

Start with one question: claim the credit now, carry it forward, or pause and escalate before you file. This article focuses on Form 8801 and the **credit for prior year minimum tax**. It is for individuals, estates, and trusts, and it covers the prior-year AMT credit plus any carryforward. The minimum tax credit is allowed only for AMT caused by deferral items.