OMB No. 1545-1073

Form 8801

Department of the Treasury

Internal Revenue Service

Attachment

Sequence No. 74 © Attach to your tax return.

Name(s) shown on return Identifying number

Net Minimum Tax on Exclusion Items

Enter the amount from line 4 of your 1992 Form 6251. Form 1041 filers, see instructions 1 1

2 Enter adjustments and preferences treated as exclusion items. See instructions 2

3 ( ) 3 Minimum tax credit net operating loss deduction. See instructions

Combine lines 1, 2, and 3. If zero or less, enter -0- here and on line 15 and go to Part II. If more

than $155,000 and you were married filing separately for 1992, see instructions

4

4

5 Enter the amount from line 12 of your 1992 Form 6251. Form 1041 filers, enter $20,000 5

6 Enter the amount from line 13 of your 1992 Form 6251. Form 1041 filers, enter $75,000 6

7 Subtract line 6 from line 4. If zero or less, enter -0- here and on line 8 and go to line 9 7

8 Multiply line 7 by 25% (.25) 8

9 Subtract line 8 from line 5. If zero or less, enter -0-. If completing for a child under 14, see instructions 9

10 Subtract line 9 from line 4. If zero or less, enter -0- here and on line 15, and go to Part II 10

11 Multiply line 10 by 24% (.24). Form 1040NR filers, see instructions 11

12 Minimum tax foreign tax credit on exclusion items. See instructions 12

13 Tentative minimum tax on exclusion items. Subtract line 12 from line 11 13

14 Enter the amount from line 21 of your 1992 Form 6251, or line 38c of 1992 Form 1041, Schedule H 14

15 Net minimum tax on exclusion items. Subtract line 14 from line 13. If zero or less, enter -0- 15

Minimum Tax Credit and Carryforward to 1994

16 Enter the amount from line 22 your of 1992 Form 6251, or line 39 of your 1992 Form 1041, Schedule H 16

17 Enter the amount from line 15 above 17

18 Subtract line 17 from line 16. If less than zero, enter as a negative amount 18

19 19 1992 minimum tax credit carryforward. Enter the amount from line 26 of your 1992 Form 8801

Enter your 1992 unallowed credit for fuel produced from a nonconventional source, plus your

1992 unallowed orphan drug credit. See instructions

20

20

21 Combine lines 18, 19, and 20. If zero or less, stop here and see instructions 21

22 Enter your 1993 regular income tax liability minus allowable credits. See instructions 22

23 Enter the amount from line 26 of your 1993 Form 6251, or line 37 of your 1993 Form 1041, Schedule H 23

24 Subtract line 23 from line 22. If zero or less, enter -0- 24

25 Minimum tax credit. Enter the smaller of line 21 or line 24. Also enter this amount on the

appropriate line of your 1993 tax return. See instructions 25

26 Minimum tax credit carryforward to 1994. Subtract line 25 from line 21. See instructions 26

Recordkeeping.—Use Form 8801 each

year to see if you have a minimum tax

credit and to keep track of any credit

carryforward (see line 26 of your 1992

Form 8801).

General Instructions

Section references are to the Internal

Revenue Code.

Purpose of Form

We ask for the information on this form

to carry out the Internal Revenue laws of

the United States. You are required to

give us the information. We need it to

ensure that you are complying with

these laws and to allow us to figure and

collect the right amount of tax.

Specific Instructions Form 8801 is used by individuals, trusts,

and estates to compute the minimum

tax credit, if any, for alternative minimum

tax (AMT) incurred in prior tax years after

1986. The form is also used to figure

any minimum tax credit carryforward

that may be used in future years.

The AMT is attributable to two types of

adjustments and preferences— “deferral

items” and “exclusion items.” The minimum tax credit is allowed only on the

AMT attributable to deferral items.

Who Should File

The time needed to complete and file

this form will vary depending on

individual circumstances. The estimated

average time is:

Deferral items are generally

adjustments and preferences that do not

cause a permanent difference in taxable

income over a number of years (e.g.,

depreciation). Exclusion items, on the

other hand, cause a permanent

difference in taxable income (e.g., the

standard deduction).

Form 8801 should be completed by

individuals, trusts, and estates that had:

Recordkeeping 1 hr., 33 min.

● An AMT liability in 1992 and

adjustments or preferences (other than

exclusion items) in 1992;

Learning about the 

law or the form 1 hr., 3 min.

Preparing the form 1 hr.

● A minimum tax credit carryforward

from 1992 to 1993; or

Copying, assembling, and 

sending the form to the IRS 17 min.

● A 1992 unallowed nonconventional

source fuel credit or unallowed orphan

drug credit (see the instructions for line

20).

If you have comments concerning the

accuracy of these time estimates or

suggestions for making this form more

simple, we would be happy to hear from

Cat. No. 10002S

Part II

Part I

Credit For Prior Year Minimum Tax—

Individuals and Fiduciaries

Form 8801 (1993)

Paperwork Reduction

Act Notice

you. You can write to both the IRS and

the Office of Management and Budget

at the addresses listed in the

instructions of the tax return with which

this form is filed.
Line 1—Form 1041 filers.—Skip lines 1

through 3 of Form 8801. Complete Parts

I and II of another 1992 Form 1041,

Schedule H. For Part I of Schedule H,

take into account only exclusion items

(the amounts included on lines 4e and

6d of Schedule H). On line 9b of

Schedule H, use the minimum tax credit

net operating loss deduction

(MTCNOLD). However, do not limit the

MTCNOLD to 90% of the amount on line

8 of Schedule H (see the instructions for

line 3 below for how to compute the

MTCNOLD). On Part II of Schedule H,

do not take into account any basis

adjustments arising from deferral items

in completing lines 18 and 19. If the

amount on line 12 of Schedule H is zero

or less, enter zero on line 4 of Form

8801. Otherwise, enter the amount from

line 12 of Schedule H, adjusted for

exclusion items that were allocated to

the beneficiary, on line 4 of Form 8801.

Form 8801 (1993) Page 2

Step 3. Complete Part IV of Form

1116. Enter the refigured credit from line

32 of Form 1116 on line 12 of your 1993

Form 8801.

For loss years beginning before 1987,

the amount of MTCNOL that may be

carried forward to tax years beginning

after 1986 is equal to the amount of

regular tax NOL that may be carried

from such loss years to the first tax year

beginning after 1986.

Line 20.—Enter the unused portion of

your 1992 credit for fuel produced from

a nonconventional source that was not

allowed solely because of the limitation

under section 29(b)(6)(B). Also include on

this line the unused part of your 1992

orphan drug credit not allowed solely

because of the limitation under section

28(d)(2)(B).

To determine the amount of MTCNOL

that may be carried to tax years other

than 1992, apply sections 172(b)(2) and

172(d), with appropriate modifications to

take into account exclusion items.

Line 4.—If your filing status was married

filing separately for 1992 and line 4 is

more than $155,000, you must include

an additional amount on line 4. If line 4

is $235,000 or more, include an

additional $20,000 on line 4. Otherwise,

include 25% of the excess of the

amount on line 4 over $155,000. For

example, if the amount on line 4 is

$175,000, enter $180,000 instead—the

additional $5,000 is 25% of $20,000

($175,000 minus $155,000).

Line 21.—If line 21 is zero or less, you

do not have a minimum tax credit or a

minimum tax credit carryforward. Do not

complete the rest of this form.

Line 22.—Follow the instructions below

and refer to your 1993 income tax return

to figure the amount to enter on line 22.

Form 1040.—Subtract from the

amount on line 40 the total of any

credits on lines 41 through 44 (not

including any credit for prior year

minimum tax) and any write-in credit on

line 45.

Line 9.—If you are completing this form

for a child who was under age 14 on

January 1, 1993, and at least one of the

child’s parents was alive on December

31, 1992, do not follow the instructions

on the form for line 9. Instead, if line 8 is

equal to or more than line 5, enter zero.

Otherwise, enter the smaller of (1) the

amount by which line 5 exceeds line 8,

or (2) the amount entered on line F of

the worksheet for line 16 of the child’s

1992 Form 6251.

Note: If you included any of the

exclusion items on a line other than

those listed above, include that item in

the amount to be entered on line 2. For

example, if depletion was included on

Form 6251 as an adjustment on line 5r

(passive activity loss) instead of on line

6c (depletion), include it as an exclusion

item when figuring the amount for line 2.

Form 1040NR.—Subtract from the

amount on line 39 the total of any

credits on lines 40 through 42 (not

including any credit for prior year

minimum tax) and any write-in credit on

line 43.

Line 12—Minimum tax foreign tax

credit on exclusion items.—Refigure

your minimum tax foreign tax credit

using only exclusion items attributable to

sources outside the United States. To do

this, use a separate 1992 Form 1116,

Foreign Tax Credit, for each type of

income and follow the steps below.

Form 1041.—Subtract the total of any

credits on lines 2a through 2c, Schedule

G, from the amount on line 1a, Schedule

G.

Line 3—Minimum tax credit net

operating loss deduction

(MTCNOLD).—Your MTCNOLD is the

aggregate of the minimum tax credit net

operating loss (MTCNOL) carryovers and

carrybacks to 1992. The MTCNOLD is

not limited to 90% of alternative

minimum taxable income (AMTI)

computed by taking into account only

exclusion items. Your MTCNOL is figured

as follows:

Step 1. Fill in Part I of Form 1116

using that portion of your taxable

income and exclusion items attributable

to sources outside the United States.

Line 25—Minimum tax credit.—Enter

the minimum tax credit on the following

line of your tax return:

● Form 1040, line 44.

● Form 1040NR, line 42.

Step 2. Fill in Part III of Form 1116.

However, instead of entering the AMT

foreign tax credit carryforward on line 10

of Form 1116, use the foreign tax credit

carryforward, if any, figured on exclusion

items. Enter the amount from line 4 of

your 1993 Form 8801 on line 17 of Form

1116. Enter the amount from line 11 of

your 1993 Form 8801 reduced by the

child care credit and the credit for the

elderly or the disabled, if any, on line 19

of Form 1116.

● Form 1041, line 2d, Schedule G.

For loss years beginning after 1986,

your MTCNOL is the excess of the

deductions allowed in computing AMTI

(excluding the MTCNOLD), taking into

account only exclusion items, over the

income included in computing AMTI,

taking into account only exclusion items.

This excess is computed with the

modifications in section 172(d), taking

into account exclusion items (i.e., the

section 172(d) modifications should be

separately computed in figuring the

MTCNOL).

For example, the limitation of

nonbusiness deductions to the amount

of nonbusiness income must be

separately computed in figuring the

MTCNOL using only nonbusiness

income and deductions taking into

account only exclusion items. However,

ignore the disallowance of the deduction

for personal exemptions under section

172(d)(3) because it has already been

taken into account in computing AMTI

using only exclusion items.

Line 26—Carryforward of minimum tax

credit.—Keep a record of this amount

because it can be carried forward and

used in future years.

Line 2.—Enter on this line the

adjustments and preferences treated as

exclusions. Exclusion items are your

AMT adjustments and preferences for:

the standard deduction, itemized

deductions (including any investment

interest expense reported on Schedule

E), the deduction for charitable

contributions of appreciated property,

certain tax-exempt interest, and

depletion. Combine lines 5a through 5g

and 6a through 6c of your 1992 Form

6251. Enter the amount on line 2.

If line 13 of Form 1116 is greater than

line 20 of Form 1116, keep a record of

the difference between those two lines.

This amount is carried forward and used

to compute your foreign tax credit on

exclusion items next year.

Line 11.—If you filed Form 1040NR for

1992 and had a net gain on the

disposition of U.S. real property

interests, enter on line 11 the larger of

(1) 21% of the net gain or (2) 24% of

line 10. Otherwise, enter 24% of line 10.