Form 8801

Peter G Hamilton · Post by **Peter G Hamilton** » Mon Apr 10, 2006 11:43 am

IRS Form 8801 is used to claim credit for US Alternative Minimum Tax for future years when there is no AMT. A key input is line 12 which asks for "Minimum Foreign Tax Credit for Exclusion Items". The IRS instructions for this line are very complicated, in fact I can't really understand them.
Is there an easy or simple way to get a number for this line?

Peter

nelsona · Post by **nelsona** » Mon Apr 10, 2006 12:07 pm

Anytime you get into AMT, you should be using software. I would even go so far as to say that doing 1116 by hand is frought with peril.

8801 is supported by all the off-the shelf packages, invest in the $19.00.

Besides, you aren't claiming return of AMT this year, are you?

Peter G Hamilton · Post by **Peter G Hamilton** » Mon Apr 10, 2006 12:15 pm

I have AMT for this year (2005). Apparently I need to fill out 8801 to establish a claim for future years. I am using Taxcut for US (and Quicktax for Canada). Much of 8801 is filled out by Taxcut. However line 12 is not. It requires an entry by me. (or else I don't understand the form).

Peter