Individuals use Form 8801 to figure their minimum tax credit, if any, for AMT incurred in prior tax years. They also use the form to figure any minimum tax credit carryforward.

Form 8801. Fill in Form 8801 if you had any of the following items in 2000.

• An AMT liability and adjustments or preferences that do not cause a permanent difference in taxable income over time.
• A minimum tax credit carryforward.
• An unallowed nonconventional source fuel credit or qualified electric vehicle credit.

For more information, see Form 8801.

Reduction for canceled debt. You may have to reduce the credit if you exclude from income a canceled debt from any of the following.

• A bankruptcy case.
• Insolvency.
• Qualified farm debt.

You must reduce the amount available at the beginning of the year after the debt was canceled before preparing Form 8801 for that year. For more information, see Cancellation of Debt in chapter 4.

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