Question

Can I file Form 8801 for carryforward credit even if the AMT tax credit won't affect this year's taxes?

Forum|Forum|3 years ago
February 21, 2023
1 reply
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When calculating credit for AMT paid in prior year, Turbotax doesn't let me generate the form because it says the credit won't affect my taxes this year (which is expected as I paid AMT this year as well). My understanding is I need to file Form 8801 anyways for future year carryforward of the credit, but this doesn't seem to be possible.

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M

Mike9241

you would only file form 8801 if there is an AMT tax carryforward (line 26) which Turbotax would compute automatically and include the form in your filing. Sometimes you pay AMT taxes but there is no carryforward - generally tax preference items that do not reverse in a future year.