8801 Credit for Prior Year Minimum Tax�Individuals, Estates,

Form

8801

Department of the Treasury
Internal Revenue Service (99)

OMB No. 1545-1073

Credit for Prior Year Minimum Tax—
Individuals, Estates, and Trusts

2008

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See separate instructions.
Attach to Form 1040, 1040NR, or 1041.

Attachment
Sequence No.

Name(s) shown on return

Part I

Net Minimum Tax on Exclusion Items

1

Combine lines 1, 6, and 10 of your 2007 Form 6251. Estates and trusts, see instructions

1

2

Enter adjustments and preferences treated as exclusion items (see instructions)

2

3

Minimum tax credit net operating loss deduction (see instructions)

3

4

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 $207,500 and you were married filing separately for 2007, see instructions

4

Enter: $66,250 if married filing jointly or qualifying widow(er) for 2007; $44,350 if single or head of
household for 2007; or $33,125 if married filing separately for 2007. Estates and trusts, enter $22,500

5

Enter: $150,000 if married filing jointly or qualifying widow(er) for 2007; $112,500 if single or
head of household for 2007; or $75,000 if married filing separately for 2007. Estates and trusts,
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 this form is for a child under age 18, 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. Form
1040NR filers, see instructions

10

5

6

11

74

Identifying number

● If for 2007 you filed Form 2555 or 2555-EZ, see page 2 of the instructions for the amount to enter.
● If for 2007 you reported capital gain distributions directly on Form 1040, line 13; you
reported qualified dividends on Form 1040, line 9b (Form 1041, line 2b(2)); or you had a
gain on both lines 15 and 16 of Schedule D (Form 1040) (lines 14a and 15, column (2), of
Schedule D (Form 1041)), complete Part III of Form 8801 and enter the amount from line
51 here. Form 1040NR filers, see instructions.
● All others: If line 10 is $175,000 or less ($87,500 or less if married filing separately for
2007), multiply line 10 by 26% (.26). Otherwise, multiply line 10 by 28% (.28) and subtract
$3,500 ($1,750 if married filing separately for 2007) from the result. Form 1040NR filers,
see instructions.

%

12

Minimum tax foreign tax credit on exclusion items (see instructions)

13

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

13

14

Enter the amount from your 2007 Form 6251, line 34, or 2007 Form 1041, Schedule I, line 55

14

15

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

15

Cat. No. 10002S

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11

12

For Paperwork Reduction Act Notice, see page 4 of the instructions.

(

Form

8801

(2008)

Form 8801 (2008)

Part II

Page

16

Enter the amount from your 2007 Form 6251, line 35, or 2007 Form 1041, Schedule I, line 56

16

17

Enter the amount from line 15

17

18

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

18

19

2007 credit carryforward. Enter the amount from your 2007 Form 8801, line 28

19

20

Enter your 2007 unallowed qualified electric vehicle credit (see instructions)

20

21

Enter as a negative amount any alternative minimum tax for 2007 or any prior year that is
attributable to the exercise of incentive stock options and was unpaid as of October 3, 2008
(see instructions)

21 (

22

Combine lines 18 through 21. If less than zero, enter as a negative amount

22

23

Enter 50% (.50) of the total interest and penalties you paid before October 3, 2008, on alternative
minimum tax attributable to the exercise of incentive stock options for 2007 or any prior year

23

24

Combine lines 22 and 23. If zero or less, stop here and see instructions

24

25

Enter your 2008 regular income tax liability minus allowable credits (see instructions)

25

26

Enter the amount from your 2008 Form 6251, line 34, or 2008 Form 1041, Schedule I, line 54

26

27

Subtract line 26 from line 25. If zero or less, enter -0-

27

28

Current year nonrefundable credit. Enter the smaller of line 24 or line 27. Also enter this amount
on your 2008 Form 1040, line 54 (check box b); Form 1040NR, line 49 (check box b); or Form 1041,
Schedule G, line 2d

28

29

2

Current Year Nonrefundable and Refundable Credits and Carryforward to 2009

)

● Estates and trusts: Leave lines 29 and 30 blank and go to line 31.
● Individuals: Did you have a minimum tax credit carryforward to 2006 (on your 2005 Form
8801, line 26) or pay any interest or penalties before October 3, 2008, on alternative minimum
tax attributable to the exercise of incentive stock options for 2007 or any prior year?
No. Leave lines 29 and 30 blank and go to line 31.
Yes. Complete Part IV of Form 8801 to figure the amount to enter

30

29

Is line 29 more than line 28?
No. Leave line 30 blank and go to line 31.
Yes. Subtract line 28 from line 29. This is your current year refundable credit. Enter the
result here and on your 2008 Form 1040, line 68 (check box c), or Form 1040NR, line 68

31

Credit carryforward to 2009. Subtract the larger of line 28 or line 29 from line 24. Keep a
record of this amount because you may use it in future years

30

31
Form

8801

(2008)

Form 8801 (2008)

Part III

Page

3

Tax Computation Using Maximum Capital Gains Rates

Caution. If you did not complete the 2007 Qualified Dividends and Capital Gain Tax
Worksheet, the 2007 Schedule D Tax Worksheet, or Part V of the 2007 Schedule D (Form
1041), see the instructions before completing this part.
32

33

Enter the amount from Form 8801, line 10. If you filed Form 2555 or 2555-EZ for 2007, enter
the amount from line 3 of the worksheet on page 2 of the instructions

32

Caution. If for 2007 you filed Form 1040NR, 1041, 2555, or 2555-EZ, see page 4 of the
instructions before completing lines 33, 34, and 35.
Enter the amount from line 6 of your 2007 Qualified Dividends and
Capital Gain Tax Worksheet, the amount from line 13 of your 2007
Schedule D Tax Worksheet, or the amount from line 22 of the 2007
Schedule D (Form 1041), whichever applies*
33
If you figured your 2007 tax using the 2007 Qualified Dividends
and Capital Gain Tax Worksheet, skip line 34 and enter the
amount from line 33 on line 35. Otherwise, go to line 34.

34
35
36
37
38

39

40

41
42
43
44
45
46

Enter the amount from line 19 of your 2007 Schedule D (Form
1040), or line 14b, column (2), of the 2007 Schedule D (Form 1041)
Add lines 33 and 34, and enter the smaller of that result or the
amount from line 10 of your 2007 Schedule D Tax Worksheet
Enter the smaller of line 32 or line 35
Subtract line 36 from line 32

34
35
36
37

If line 37 is $175,000 or less ($87,500 or less if married filing separately for 2007), multiply line
37 by 26% (.26). Otherwise, multiply line 37 by 28% (.28) and subtract $3,500 ($1,750 if
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married filing separately for 2007) from the result. Form 1040NR filers, see instructions
Enter:
● $63,700 if married filing jointly or qualifying widow(er) for 2007,
● $31,850 if single or married filing separately for 2007,
● $42,650 if head of household for 2007, or
● $2,150 for an estate or trust.
Form 1040NR filers, see instructions
Enter the amount from line 7 of your 2007 Qualified Dividends and
Capital Gain Tax Worksheet, the amount from line 14 of your 2007
Schedule D Tax Worksheet, or the amount from line 23 of the 2007
Schedule D (Form 1041), whichever applies. If you did not complete
either worksheet or Part V of the 2007 Schedule D (Form 1041),
enter -0-. Form 1040NR filers, see instructions
Subtract line 40 from line 39. If zero or less, enter -0Enter the smaller of line 32 or line 33
Enter the smaller of line 41 or line 42
Multiply line 43 by 5% (.05)
Subtract line 43 from line 42
Multiply line 45 by 15% (.15)

38

39

40
41
42
43
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44

©

46

45

If line 34 is zero or blank, skip lines 47 and 48 and go to line 49. Otherwise, go to line 47.
47

47
48
49

Subtract line 42 from line 36
Multiply line 47 by 25% (.25)
Add lines 38, 44, 46, and 48

50

If line 32 is $175,000 or less ($87,500 or less if married filing separately for 2007), multiply line
32 by 26% (.26). Otherwise, multiply line 32 by 28% (.28) and subtract $3,500 ($1,750 if
married filing separately for 2007) from the result. Form 1040NR filers, see instructions

50

Enter the smaller of line 49 or line 50 here and on line 11. If you filed Form 2555 or 2555-EZ
for 2007, do not enter this amount on line 11. Instead, enter it on line 4 of the worksheet on
page 2 of the instructions

51

51

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48
49

*

The 2007 Qualified Dividends and Capital Gain Tax Worksheet is on page 35 of the 2007 Instructions for Form 1040. The 2007 Schedule D Tax Worksheet is on
page D-10 of the 2007 Instructions for Schedule D (Form 1040) (page 43 of the 2007 Instructions for Form 1041).
Form

8801

(2008)

Form 8801 (2008)

Part IV

Page

52

52

Enter the amount from line 22

53

Enter the total of lines 18 and 20 from your 2006 Form 8801.
If zero or less, enter -0-

53

Enter the total of lines 18 and 20 from your 2007 Form 8801.
If zero or less, enter -0-

54

Enter the total of lines 18 and 20 from your 2008 Form 8801.
If zero or less, enter -0-

55

54

55

4

Tentative Refundable Credit

56

Add lines 53 through 55

56

57

Long-term unused minimum tax credit. Subtract line 56 from line 52 (If zero or less, enter -0here and on line 61 and go to line 62)

57

58

Multiply line 57 by 50% (.50)

58

59

Enter the amount from your 2007 Form 8801, line 55

59

60

Enter the larger of line 58 or line 59

60

61

Enter the smaller of line 57 or line 60

61

62

Enter the amount from line 23

62

63

Add lines 61 and 62. Enter the result here and on line 29

63
Form

8801

(2008)