OMB No. 1545-1257

Form 8827 Credit For Prior Year Minimum Tax—Corporations

Department of the Treasury

Internal Revenue Service © Attach to the corporation’s tax return.

Name Employer identification number

Minimum Tax Credit for 1991

1 Alternative minimum tax for 1990. Enter the amount from line 15 of 1990 Form 4626 1

2

2 Carryforward of minimum tax credit from 1990. Enter the amount from line 26 of 1990 Form

8801

3 Enter any 1990 unallowed credit for fuel produced from a nonconventional source. Also include

any 1990 unallowed orphan drug credit. See instructions 3

4 Add lines 1, 2, and 3 4

5

5 Enter the corporation’s 1991 regular income tax liability minus allowable tax credits. See

instructions

6 Enter the amount from line 14 of 1991 Form 4626 6

7 Subtract line 6 from line 5. If zero or less, enter -0- 7

8 Minimum tax credit. Enter the smaller of line 4 or line 7. Also enter this amount on the appropriate

line of the corporation’s 1991 tax return. See instructions 8

9 Minimum tax credit carryforward to 1992. Subtract line 8 from line 4. See instructions 9

Also include on this line the unused

portion of any 1990 orphan drug credit

not allowed solely because of the limit

under section 28(d)(2)(B).

General Instructions

(Section references are to the Internal

Revenue Code.)

Line 5.—Enter the corporation’s regular

income tax liability (as defined in section

26(b)) minus any credits allowed under

Subchapter A, Part IV, subparts B, D, E,

and F. From the 1991 Form 1120,

subtract any credits on lines 4a through

4e, Schedule J, from the amount on line

3, Schedule J. From the 1991 Form

1120-A, subtract the amount on line 2a,

Part I from the amount on line 1, Part I.

Paperwork Reduction Act Notice.—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.

Who Should File

Form 8827 should be completed by

corporations that had:

● An AMT liability in 1990;

● A minimum tax credit carryforward

from 1990 to 1991; or

The time needed to complete and file

this form will vary depending on

individual circumstances. The estimated

average time is 1 hour.

● A 1990 unallowed nonconventional

source fuel credit or a 1990 unallowed

orphan drug credit (see the instructions

for line 3 of this form). Line 8.—Enter the minimum tax credit

on line 4f, Schedule J of Form 1120, or

on line 2b, Part I of Form 1120-A. For

other corporate returns, enter the

minimum tax credit on the line provided

on the corporation’s tax return.

Corporations are now allowed a

minimum tax credit based on the full

amount of AMT incurred in tax years

beginning after 1989, without regard to

whether it resulted from exclusion items

or deferral items. For tax years prior to

1990, the minimum tax credit was

allowed only on the AMT attributable to

deferral items.

Note: Section 383 may limit the amount

of tax of a corporation for any tax year

ending after a post-1986 ownership

change that may be offset by prechange

minimum tax credits. If this limit applies,

attach the computation of the allowable

minimum tax credit, enter that amount

on line 8, and write “Sec. 383” on the

dotted line to the left of the line 8 entry

space. See section 384 for the limit on

the use of any preacquisition excess

credit of one corporation to offset

recognized built-in gains of another

corporation.

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

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.

Recordkeeping.— Use Form 8827 each

year to see if the corporation has a

minimum tax credit and to keep a record

of any credit carryforward.

Specific Instructions

Line 3.—Enter the unused portion of the

1990 credit for fuel produced from a

nonconventional source that was not

allowed solely because of the limit under

section 29(b).

Line 9—Carryforward of minimum tax

credit.—Keep a record of this amount

because it can be carried forward and

used in future years.

Purpose of Form

Form 8827 is used by corporations to

compute the minimum tax credit, if any,

for alternative minimum tax (AMT)

incurred in prior tax years and any

minimum tax credit carryforward that

may be used in future years. Before

1991, Form 8801, Credit for Prior Year

Minimum Tax, was used for this

purpose.

Carryforward to 1992

Cat. No. 13008K Form 8827 (1991)