DawnC
Expert Alumni

Deductions & credits

Yes, you have a AMT carryover credit on Line 6b.   You need to look at Form 8801.   TurboTax is giving you the solar credit, but the solar credit is reducing the credit for paying AMT in a previous year on this year's return. 

 

You are not subject to the AMT this year if you are getting a credit on Form 8801.    The solar tax credit can be used to lower AMT,  but the solar credit is removed from the credit for prior years AMT (Line 6b of Schedule 3).   

 

If you look on Form 8801, Line 22, it is pulling your current tax liability minus allowable credits.   The Line 22 instructions remove credits on Schedule 3 when calculating the amount of credit you can take on Schedule 3, Line 6b.  

 

'''Add the amounts from Form 1040, 1040-SR, or 1040-NR, line 16 and Schedule 2 (Form 1040), line 2. Subtract from the result the total of any credits from Form 1040, 1040-SR, or 1040-NR, line 19 and Schedule 3 (Form 1040), lines 1 through 6z (not including any credit for prior year minimum tax on line 6b.'''

 

Can I claim the AMT (Alternative Minimum Tax) credit?

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