TurboTax FAQ
TurboTax FAQ

2013 Federal 1040: Minimum Tax Credit

On a federal tax return, there are two types of taxes – regular tax that all taxpayers pay and a second type called alternative minimum tax (AMT) when certain tax benefits are added back to the income and the resulting tax is more than the regular tax.

When a taxpayer pays AMT tax, in future years their regular taxes may be reduced by the Minimum Tax credit – based on AMT tax incurred in prior years. Form 8801 is used to calculate this credit.

Certain customers, who filed a 2013 Federal Form 1040 and had a Minimum Tax credit carryover from tax year 2012, might have filed an incorrect federal tax return.

TurboTax has fixed this issue.

How to tell if you may be impacted

You may be affected if ALL of the following are true:

  • On your 2012 federal tax return, the form 1040 included an amount on line 44 (alternative minimum tax) AND
  • You filed a 2013 federal tax return prior to February 20, 2014 AND
  • Your 2013 federal tax return included a Form 8801 (Minimum Tax Credit) with no amounts on lines 16, 25, and 26.

If you are affected, you may have overpaid your federal tax. You may need to amend your federal income tax return.

To amend your return:

  • Follow these step-by-step instructions.
  • After you make the changes to your tax return, you will need to mail a copy of your amended return.
  • Your printed return(s) will include instructions on how and where to mail it.

If you need to contact us, please use the phone number in the email from TurboTax and tell the representative you’re calling about the 2013 Federal 1040: Minimum Tax Credit.