Instructions For Form 8801 - 2009
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Department of the Treasury
Internal Revenue Service
Instructions for Form 8801
Credit for Prior Year Minimum Tax—Individuals, Estates, and Trusts
items are only the following AMT adjustments and preferences:
Section references are to the Internal Revenue Code unless
itemized deductions (including any investment interest expense
otherwise noted.
reported on Schedule E), certain tax-exempt interest, depletion,
General Instructions
the section 1202 exclusion, and any other adjustments related
to exclusion items. Do not include the standard deduction. It
Purpose of Form
has already been included on line 1. Combine lines 2 through 5,
8 through 10, 12, and 13 of your 2008 Form 6251. Do not
Use Form 8801 if you are an individual, estate, or trust to figure
include any amount from line 15 of the 2008 Form 6251.
the current year nonrefundable credit, if any, for alternative
Instead, include the exclusion item amount from the
minimum tax (AMT) you incurred in prior tax years; to figure the
Schedule(s) K-1 (Form 1041) you received for 2008. That
current year refundable credit (individuals only), if any, for any
amount is shown in box 12 with code J. If you included on line
unused credit carryforward from 2006; and to figure any credit
27 of the 2008 Form 6251 any adjustments related to exclusion
carryforward to 2010.
items, also include those adjustments in the amount you enter
on line 2. Enter the total on line 2.
Who Should File
Exclusion items on other lines. If you included any exclusion
Complete Form 8801 if you are an individual, estate, or trust
item on a line not listed above, include that item in the amount
that for 2008 had:
•
you enter on line 2. For example, if depletion was included on
An AMT liability and adjustments or preferences other than
Form 6251 as an adjustment on line 19 (passive activities)
exclusion items,
•
instead of on line 10 (depletion), include it as an exclusion item
A credit carryforward to 2009 (on 2008 Form 8801, line 31),
in the amount you enter on line 2.
or
•
An unallowed qualified electric vehicle credit (see the
Line 3
instructions for line 20).
Your minimum tax credit net operating loss deduction
File Form 8801 only if line 23 is more than zero.
(MTCNOLD) is the total of the minimum tax credit net operating
loss (MTCNOL) carryovers and carrybacks to 2008. Your
MTCNOL is figured as follows.
Specific Instructions
Your MTCNOL is the excess of the deductions (excluding
the MTCNOLD) over the income used to figure alternative
The AMT is caused by two types of adjustments and
minimum taxable income (AMTI) taking into account only
preferences — deferral items and exclusion items. Deferral
exclusion items. Figure this excess with the modifications in
items (for example, depreciation) generally do not cause a
section 172(d) taking into account only exclusion items. (That
permanent difference in taxable income over time. Exclusion
is, the section 172(d) modifications must be figured separately
items (for example, the standard deduction), on the other hand,
for the MTCNOL.)
do cause a permanent difference. The minimum tax credit is
allowed only for the AMT caused by deferral items.
For example, the limitation of nonbusiness deductions to the
amount of nonbusiness income must be figured separately for
Part I—Net Minimum Tax on Exclusion
the MTCNOL using only nonbusiness income and deductions
Items
but taking into account only exclusion items. However, ignore
the disallowance of the deduction for personal exemptions
under section 172(d)(3) because it has already been taken into
Line 1—Estates and Trusts
account to figure AMTI attributable only to exclusion items.
Skip lines 1 through 3 of Form 8801. To figure the amount to
enter on line 4 of Form 8801, complete Parts I and II of another
To determine the amount of MTCNOL that may be carried to
2008 Form 1041, Schedule I, as a worksheet. After completing
tax years other than 2008, apply sections 172(b)(2) and 172(d)
line 1 of Schedule I, complete the rest of Part I of Schedule I by
with appropriate modifications to take into account only
taking into account only exclusion items (the amounts included
exclusion items.
on lines 2 through 6, 8, and 9, and any other adjustments
Line 4
related to exclusion items included on line 23 of Schedule I). On
line 24 of Schedule I, use the minimum tax credit net operating
If your filing status was married filing separately for 2008 and
loss deduction (MTCNOLD). However, do not limit the
line 4 is more than $214,900, you must include an additional
MTCNOLD to 90% of the total of lines 1 through 23 of Schedule
amount on line 4. If line 4 is $354,800 or more, include an
I. (See the instructions for line 3 on this page for how to figure
additional $34,975 on line 4. Otherwise, include 25% of the
the MTCNOLD.) In Part II of Schedule I, complete lines 35 and
excess of the amount on line 4 over $214,900. For example, if
36 without taking into account any basis adjustments arising
the amount on line 4 is $234,900, enter $239,900 instead — the
from deferral items. If the amount on Schedule I, line 29, is zero
additional $5,000 is 25% of $20,000 ($234,900 minus
or less, enter -0- on Form 8801, line 4. Otherwise, enter on
$214,900).
Form 8801, line 4, the amount from Schedule I, line 29,
Line 9
adjusted for exclusion items that were allocated to the
beneficiary.
Do not enter more than the sum of your 2008 earned income
plus $6,400 if you did not file a joint return for 2008, at least one
Note. If you complete Parts I and II of a 2008 Form 1041,
of your parents was alive at the end of 2008, and one of the
Schedule I, as a worksheet to figure the amount to enter on
following statements is true.
2009 Form 8801, line 4, do not attach that worksheet
Schedule I to your tax return. Instead, keep it for your
1. You were under age 18 at the end of 2008.
records.
2. You were age 18 at the end of 2008 and did not have
earned income that was more than half of your support.
Line 2
3. You were a full-time student over age 18 and under age
Enter on this line the adjustments and preferences treated as
24 at the end of 2008 and did not have earned income that was
exclusion items (except the standard deduction). Exclusion
more than half of your support.
Cat. No. 10600C
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