AMT credit for the next filing year

[schmiddj]

I have a sizable AMT liability this year due to exercised but unsold incentive stock options.   I expect/hope to be able to take that AMT amount as a credit next year.   Is there a form or line I need to make sure to complete in order to take advantage of that potential credit for the next filing year?

[HelenC12]

No, there isn't a form or line number. When you transfer your 2020 information into your 2021 income tax return, TurboTax will ask you if you paid AMT in tax year 2020 or prior years. 

• If you're eligible for the AMT credit in tax year 2021, the credit will appear on form 8801 Credit for Prior Year Minimum Tax— Individuals, Estates, and Trusts.

Related Information:

• Alternative Minimum Tax: Common Questions
• How much is the AMT exemption?
• Why am I getting hit with the AMT (Alternative Minimum Tax)?
• What is the Alternative Minimum Tax (AMT) in 2020?