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Didn't have any item of unrecaptured section 1250 gain or

10. Complete lines 11 and 12 of the worksheet as instructed

28% rate gain or loss, and

on the worksheet.

Didn't have any capital gains taxed at a rate of 0% or 20%.

11. Enter the amount from your MTFTCE Worksheet for

Instructions for Worksheets A and B. When you complete

Line 18 on your MTFTCE Form 1116, line 18.

Worksheet A or Worksheet B, don't use any foreign source

capital gains you elected to include on line 4g of Form 4952. Use

Step 5. Enter the amount from Form 8801, line 11, on the

0.5357 instead of 0.3788 to complete lines 11, 13, and 15 of

MTFTCE Form 1116, line 20. Complete lines 19, 21, and 22 of

Worksheet B and to complete lines 8, 11, and 17 of the Line 15

the MTFTCE Form 1116.

Worksheet for Worksheet B.

Step 6. Complete Part IV of the first MTFTCE Form 1116 only.

If you don't qualify to use Worksheet A or Worksheet B, use

Enter the amount from that MTFTCE Form 1116, line 30, on

the instructions for Capital Gains and Losses in Pub. 514,

Form 8801, line 12.

Foreign Tax Credit for Individuals, to determine the adjustments

you make.

Note. Keep all Forms 1116 you used to figure your MTFTCE,

but don't attach them to your tax return.

Step 3. Complete lines 9 through 17 of the MTFTCE Form

1116. For line 9, use the same amount you entered on that line

If line 14 of the MTFTCE Form 1116 is greater than line 21 of

for 2015 for the regular tax. Use your MTFTCE carryover, if any,

the MTFTCE Form 1116, keep a record of the difference. This

on line 10.

amount is carried forward and used to figure your MTFTCE next

Simplified limitation election. If you figured your 2015

year.

AMTFTC using the simplified limitation election, complete lines 9

Part II—Minimum Tax Credit and

through 14 of the MTFTCE Form 1116. For line 9, use the same

Carryforward to 2017

amount you entered on that line for 2015 for the regular tax. Use

your MTFTCE carryover, if any, on line 10. Enter on line 17, the

same amount you entered on that line for the 2015 AMT Form

Line 20

1116.

Enter any qualified electric vehicle credit not allowed for 2015

Step 4. Enter the amount from Form 8801, line 4, on line 18 of

solely because of the limitation under section 30(b)(3)(B) (as in

the MTFTCE Form 1116 and go to

Step 5

unless you must

effect prior to the amendment of section 30 by Public Law 111-5,

complete an MTFTCE Worksheet for Line 18. In most cases, you

the American Recovery and Reinvestment Tax Act of 2009).

must complete an MTFTCE Worksheet for Line 18 if you

completed Part III of Form 8801 and:

Line 21

Line 53 of Form 8801 is smaller than line 54, and

If line 21 is zero or less, you don't have a minimum tax credit or a

Line 32 of Form 8801 is greater than zero.

credit carryforward. Don't complete the rest of this form and don't

But even if you meet the requirements above, you don't need

file it.

to complete an MTFTCE Worksheet for Line 18 if:

You qualified for the adjustment exception under Qualified

Line 22

Dividends and Capital Gain Tax Worksheet (Individuals),

Follow the instructions below and refer to your 2016 income tax

Qualified Dividends Tax Worksheet (Estates and Trusts), or

return to figure the amount to enter on line 22.

Adjustments to foreign qualified dividends under Schedule D

Filers, whichever applies, in the Instructions for Form 1116 when

Form 1040. Add the amounts on lines 44 and 46 of Form 1040.

you completed your regular tax Form 1116 (or you would've

Subtract from the result the total of any credits on lines 48

qualified for that adjustment exception if you had completed a

through 54 (not including any credit for prior year minimum tax or

regular tax Form 1116) for 2015, and

any credit claimed on Form 8912). Enter the result. If the result is

Line 32 of Form 8801 isn't more than $185,400 ($92,700 if

zero or less, enter -0-.

married filing separately for 2015 or if you checked filing status

Form 1040NR. Add the amounts on lines 42 and 44 of Form

box 3, 4, or 5 on Form 1040NR for 2015).

1040NR. Subtract from the result the total of any credits on lines

Instructions for MTFTCE Worksheet for Line 18. If you

46 through 51 (not including any credit for prior year minimum

must complete an MTFTCE Worksheet for Line 18 for your

tax or any credit claimed on Form 8912). Enter the result. If the

MTFTCE Form 1116, you will use the Worksheet for Line 18 in

result is zero or less, enter -0-.

the Instructions for Form 1116 and do the following.

Form 1041, Schedule G. Add the credits on lines 2a and 2b,

1. Enter the amount from Form 8801, line 4, on line 1 of the

plus any write-in credits on line 2e. Subtract the result from the

worksheet.

total of lines 1a and 1b. Enter the result. If the result is zero or

2. Skip lines 2 and 3 of the worksheet.

less, enter -0-.

3. Enter the amount from Form 8801, line 51, on line 4 of the

Part III—Tax Computation Using

worksheet.

Maximum Capital Gains Rates

4. Multiply line 4 of the worksheet by 0.1071 (instead of

0.3687). Enter the result on line 5 of the worksheet.

If your 2015 taxable income was zero or less, enter -0- on Form

5. Enter the amount from Form 8801, line 48, on line 6 of the

8801, line 35. You also must take one of the following actions,

worksheet.

whichever applies to you, before completing lines 28, 29, and 30

6. Multiply line 6 of the worksheet by 0.2857 (instead of

of Part III.

0.4949). Enter the result on line 7 of the worksheet.

Complete lines 2 through 6 of the Qualified Dividends and

Capital Gain Tax Worksheet in the 2015 Instructions for Form

7. Enter the amount from Form 8801, line 45, on line 8 of the

1040.

worksheet.

Complete lines 2 through 4 of the Qualified Dividends and

8. Multiply line 8 of the worksheet by 0.4643 (instead of

Capital Gain Tax Worksheet in the 2015 Instructions for Form

0.6212). Enter the result on line 9 of the worksheet.

1040NR.

9. Enter the amount from Form 8801, line 38, on line 10 of

Complete lines 2 through 13 of the Schedule D Tax

the worksheet.

Worksheet in the 2015 Instructions for Schedule D (Form 1040)

-4-

Instructions for Form 8801 (2016)

Instructions For Form 8801 - Credit For Prior Year Minimum Tax-Individuals, Estates-Trusts - 2016 Page 4

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