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Ok here we go!! I have used a atm and payed to use it. could someone tell me what is this 6251 or 8801?
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Ok here we go!! I have used a atm and payed to use it. could someone tell me what is this 6251 or 8801?
Forms 6251 and 8801 are used when you have Alternative Minimum Tax (AMT). AMT is a tax imposed in addition to the regular income tax for certain individuals. It is a tax system parallel to the regular tax.
Form 6251 is the form used to calculate the amount of AMT if you owe the tax. TurboTax will automatically calculate the tax, if any, based on the information you enter.Link to definition of AMT.
Form 8801 is the form used to calculate the minimum tax credit for AMT incurred in prior years.If you did not have any AMT in 2018 or prior years you will not need this form.
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Ok here we go!! I have used a atm and payed to use it. could someone tell me what is this 6251 or 8801?
The corrected Form 8801 is expected to be release later today (Release 20). You need to check on it this weekend.
You should delete the form in your return. When a corrected form is updated it is possible for some old calculations is still in the form. Deleting the form will allow only the corrected form to be loaded.
To delete a form off of your return you need to:
- Select Tax Forms in the Black bar on the left side of the screen.
- Select Tools from the drop down menu.
- On the Tools Center Select Delete a form.
- Locate the form on the list and select Delete.
- You will be asked to confirm the deletion.
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