Hello, client exercised ISO and has AMT in the 2025 tax return. Shouldn't a form 8801 also be created/populated to track the AMT tax credit carryover? Is there anything I need to do to populate it? Form 6521 is already created and looks correct.
You can't stop reading the instructions after that first paragraph, "Purpose of Form." Continue to the next paragraph:
Who Should File
Complete Form 8801 if you are an individual, estate, or trust that for 2024 had:
• An AMT liability and adjustments or preferences other than exclusion items,
• A credit carryforward to 2025 (on 2024 Form 8801, line 26), or
• An unallowed qualified electric vehicle credit (see the instructions for line 20).
File Form 8801 only if line 21 is more than zero. [Which is never going to happen unless you have a carryover amount from 2024 on Line 16.]
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
