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What is the Credit for Prior Year Minimum Tax (Form 8801)?

The prior year minimum tax credit is a credit for alternative minimum tax (AMT) that you paid in a prior year. 

Go to this section in Credit Karma Tax: Alternative Minimum Tax Credit

If you don’t owe AMT for the tax year, but you paid AMT in one or more previous years, you may be eligible to take a credit for prior year minimum tax.
Source: irs.gov

How do I know if I qualify for the Alternative Minimum Tax Credit?

To find out if you qualify for the Alternative Minimum Tax Credit:

  1. Make sure you have last year’s tax return available - you’ll need Form 8801 and/or Form 6251.
  2. Using the information from last year’s returns, fill in the fields on our Alternative Minimum Tax Credit page.
  3. Based on the information you provide, Credit Karma Tax will help you determine if you qualify for this tax credit.

This credit is nonrefundable and cannot exceed the amount of taxes you owe.

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