IRS Form 8801 (Credit for Prior Year AMT) - Step-by-Step Guide and Example

Some taxpayers are required to pay Alternative Minimum Tax (AMT) during a tax year. If AMT is paid, those amounts can generally be carried forward to future tax years and used as a credit against your regular federal income tax liability.
In this example, we cover a taxpayer who owes AMT in 2022 for the exercise of some ISOs and then uses the AMT as a tax credit on Form 8801 and Schedule 3 in 2023.
For more Alternative Minimum Tax (AMT) Form 6251
- Form 6251 for ISO: • IRS Form 6251 Alternat...
- Form 6251 for Bonds: • How to File IRS Form 6...
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[@johndoes461]

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