Form Instructions 8801 Bend Oregon 2023-2024

Form Instructions 8801 Bend Oregon: What You Should Know

If your tax filing status is married filing jointly for this year, you get to keep any prior year AMT credit. This year, the maximum credit is 2,500 and the minimum credit is 500 (or a fixed percent). Any credit earned this year counts as a partial credit for your next tax year. This new tax, if any, for next year (including any future years) will be reported on Form 1040, line 21, and also on Schedule A, line 21. To get the credit in 2020, the tax should be shown on line 22. A partial credit is shown with a zero on line 5 of Schedule A (Form 1040). If your tax filing status is not married filing jointly for this year, you may claim the credit for this tax year. For 2017, the maximum AMT credit for married filing jointly is 11,350. For 2018, it is 11,400. Note: The credit may be in the form of a tax refund or a payment of a refund of tax withheld directly from the payee's check under a prior tax year. You must send Form 1040, 1040-NR, or 1040-SS, the credit due date for this amount, to the IRS as soon as possible after receiving it, but not later than 10 days after the date it is due. You must keep Form 1040, 1040-NR, or 1040-SS until the IRS informs you that you do not need it anymore. For 2019, the maximum AMT credit is 11,350. If you file Form 1040, 1040-NR, or 1040-SS, the credit due date for this amount, and your prior tax years credit, is March 25, 2019. The credit will be reported on line 21 and also on Schedule A, line 21. For 2020, the minimum AMT credit is 1,900. Maximum Credit for Married Filing Jointly 12,350.10 Minimum Credit for Married Filing Jointly 1,900.10 (1.00 × 1,900.10) Note: A nonresident's credit for taxes withheld from paychecks has the same date as the U.S. credit for state and local taxes. No limitation on amounts used for this year's tax. If there's not enough left over for the following year the maximum credit for married filing jointly is 11,350.10.

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