Credit for Prior Year Minimum Tax Form

Instructions and help about Credit For Prior Year Minimum Tax

all right for this video I want to go over the form 8801 which is the credit for prior year minimum taxes and this is going to be for the 2023 tax year now the form 801 has to do with Alternative Minimum taxes so we're going to go through this full 8801 example we have for the year and it's part of the taxpayers full 1040 so we'll cover all the other pieces within the return that are necessary to kind of pull all this together and then we also have for reference the taxpayers prior year form 6251 and their full 1040 as well you'll need the prior year return in order to figure out some of the current year values that have to be reported on the 8801 and then lastly here just one slide covering some background on both of these forms and the credit and then some details on the fact pattern itself so let's run run through the for uh sorry let's run through the slide first and then we'll get into the forums afterwards so uh just some real highle Basics on the AMT so the 6251 is where you wou