What do I enter for the Minimum Tax Credit Net Operating Loss Deduction?
In general, the Minimum Tax Credit Net Operating Loss is the AMT NOL loss found on Line 2f of your Form 6251 without any timing adjustments. Take out any timing adjustments such as adjustments for Incentive Stock Options (ISOs), depreciation, or intangible drilling costs that are included in your AMT NOL to come up with the Minimum Tax Credit NOL.
Here is the definition of the Minimum Tax Credit Net Operating Loss from the IRS instructions:
Your minimum tax credit net operating loss deduction is the total of the minimum tax credit net operating loss carryovers and carrybacks to 2024. This is the excess of the deductions over the income used to figure alternative minimum taxable income (AMTI) taking into account only exclusion items. Figure this excess with the modifications in section 172(d) taking into account only exclusion items.
For more information, see the IRS 8801 instructions .
Here is the definition of the Minimum Tax Credit Net Operating Loss from the IRS instructions:
Your minimum tax credit net operating loss deduction is the total of the minimum tax credit net operating loss carryovers and carrybacks to 2024. This is the excess of the deductions over the income used to figure alternative minimum taxable income (AMTI) taking into account only exclusion items. Figure this excess with the modifications in section 172(d) taking into account only exclusion items.
For more information, see the IRS 8801 instructions .
