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Iowa Minimum Tax Carry-Forward Credit

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Question
Iowa Minimum Tax Carry-Forward Credit

Answer

Form IA 8801 is used to compute the minimum tax credit, if any, for minimum tax that was paid last year may be claimed against your regular income tax on line 43 of the IA 1040 for this year. The form is also used to compute the minimum tax carryforward credit that may be used in future years.

WHO MUST FILE
Form IA 8801 should be completed by individuals, trusts, and estates that:
  - Had an alternative minimum tax liability last year or had a minimum tax credit carryover

  - Had adjustments and tax preferences on form IA 6251.


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Article Details
Views: 522 Created on: Jun 15, 2013
Date updated: Sep 16, 2015
Posted in: STATES, Iowa

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