How does one compete line 3 on form 8801 (credit for prior year minimum tax)?
This form is for the alternative minimum tax and credit carry forwards. If you've not been trained, and you're trying to do this on your own, you're likely to get it wrong. CPAs and tax professionals often get it wrong, and disputes often arise in tax courts over the AMT.
Line 3 is for businesses only, and only for those who have had a net operating loss in any year that they applied to other years as a carry forward or as a carry back. |
