Instructions for Form 8801 - Introductory Material Future Developments General Instructions Purpose of Form Who Should File Specific Instructions Part I—Net Minimum Tax on Exclusion Items Line 1—Estates and Trusts Line 2 Exclusion items on other lines. Line 3 Line 4 Line 10 Line 11 Foreign Earned Income Tax Worksheet—Line 11 Line 12 Figuring the minimum tax foreign tax credit on exclusion items (MTFTCE). Step 1. Figuring high-taxed income. Step 2. Simplified limitation election. Foreign source qualified dividends and capital gains (losses). Foreign qualified dividends. Individuals with capital gain distributions only. Other capital gains or losses. Instructions for Worksheets A and B. Step 3. Simplified limitation election. Step 4. Instructions for MTFTCE Worksheet for Line 18. Step 5. Step 6. Part II—Minimum Tax Credit and Carryforward to 2024 Line 20 Line 21 Line 22 Form 1040, 1040-SR, or 1040-NR. Form 1041, Schedule G. Part III—Tax Computation Using Maximum Capital Gains Rates Lines 28, 29, and 30 Estates and trusts. Form 2555. Line 35 Form 2555. Line 42 Form 1040, 1040-SR, or 1040-NR. Instructions for Form 8801 - Notices Paperwork Reduction Act Notice. Instructions for Form 8801 (2023) Credit for Prior Year Minimum Tax—Individuals, Estates, and Trusts Section references are to the Internal Revenue Code unless otherwise noted. 2023 Instructions for Form 8801 - Introductory Material Future Developments For the latest information about developments related to Form 8801 and its instructions, such as legislation enacted after they were published, go to IRS.gov/Form8801. General Instructions Purpose of Form Use Form 8801 if you are an individual, estate, or trust to figure the minimum tax credit, if any, for alternative minimum tax (AMT) you incurred in prior tax years and to figure any credit carryforward to 2024. Who Should File Complete Form 8801 if you are an individual, estate, or trust that for 2022 had: An AMT liability and adjustments or preferences other than exclusion items, A credit carryforward to 2023 (on 2022 Form 8801, line 26), or An unallowed qualified electric vehicle credit (see the instructions for line 20). File Form 8801 only if line 21 is more than zero. Specific Instructions The AMT is a separate tax that is imposed in addition to your regular tax. It is caused by two types of adjustments and preferences—deferral items and exclusion items. Deferral items (for example, depreciation) generally don't cause a permanent difference in taxable income over time. Exclusion items (for example, the standard deduction), on the other hand, do cause a permanent difference. The minimum tax credit is allowed only for the AMT caused by deferral items. Part I—Net Minimum Tax on Exclusion Items Line 1—Estates and Trusts These line 1 instructions are for estates and trusts only. If you are filing on behalf of an estate or trust, skip lines 1 through 3 of Form 8801. To figure the amount to enter on line 4 of Form 8801, complete Parts I and II of another 2022 Form 1041, Schedule I, as a worksheet. After completing lines 1 and 6 of Schedule I, complete the rest of Part I of Schedule I by taking into account only exclusion items (the amounts included on lines 2, 3, 4, 5, 7, and 8, and any other adjustments related to exclusion items included on line 21 of Schedule I). On line 22 of Schedule I, use the minimum tax credit net operating loss deduction (MTCNOLD). However, don't limit the MTCNOLD to 90% of the total of lines 1 through 21 of Schedule I. (See the instructions for line 3 of Form 8801 for how to figure the MTCNOLD.) In Part II of Schedule I, complete lines 33 and 34 without taking into account any basis adjustments arising from deferral items. If the amount on Schedule I, line 27, is zero or less, enter -0- on Form 8801, line 4. Otherwise, enter on Form 8801, line 4, the amount from Schedule I, line 27, adjusted for exclusion items that were allocated to the beneficiary. Note. If you complete Parts I and II of a 2022 Form 1041, Schedule I, as a worksheet to figure the amount to enter on 2023 Form 8801, line 4, don't attach that worksheet Schedule I to your tax return. Instead, keep it for your records. Line 2 Enter on this line the adjustments and preferences treated as exclusion items. Exclusion items are only the following AMT adjustments and preferences: certain itemized deductions (including any investment interest expense reported on Schedule E), certain tax-exempt interest, depletion, the section 1202 exclusion, the standard deduction, and any other adjustments related to exclusion items. If you didn’t file a Schedule A in 2022, include your 2022 standard deduction. Combine lines 2a, 2b, 2c, 2d, 2g, and 2h of your 2022 Form 6251. Don't include any amount from line 2j of the 2022 Form 6251. Instead, include the exclusion item amount from the Schedule(s) K-1 (Form 1041) you received for 2022. That amount is shown in box 12 with code J. If you included on line 3 of the 2022 Form 6251 any adjustments related to exclusion items, also include those adjustments in the amount you enter on line 2. Enter the total on line 2. Exclusion items on other lines. If you included any exclusion item on a line not listed above, include that item in the amount you enter on line 2. For example, if depletion was included on Form 6251 as an adjustment on line 2m (passive activities) instead of on line 2d (depletion), include it as an exclusion item in the amount you enter on line 2. Line 3 Your minimum tax credit net operating loss deduction (MTCNOLD) is the total of the minimum tax credit net operating loss (MTCNOL) carryovers and carrybacks to 2022. Your MTCNOL is figured as follows. Your MTCNOL is the excess of the deductions allowed when computing alternative minimum taxable income (AMTI) for 2022 (excluding the MTCNOLD) over the income used to figure AMTI taking into account only exclusion items for both. Figure this excess with the modifications in section 172(d) taking into account only exclusion items. (That is, the section 172(d) modifications must be figured separately for the MTCNOL.) For example, the limitation of nonbusiness deductions to the amount of nonbusiness income must be figured separately for the MTCNOL using only nonbusiness income and deductions but taking into account only exclusion items. However, ignore the disallowance of the deduction for personal exemptions under section 172(d)(3) because it has already been taken into account to figure AMTI attributable only to exclusion items. To determine the amount of MTCNOL that may be carried to tax years other than 2022, apply sections 172(b)(2) and 172(d) with appropriate modifications to take into account only exclusion items. Line 4 If your filing status was married filing separately for 2022 and line 4 is more than $776,100, you must include an additional amount on line 4. If line 4 is $1,012,300 or more, include an additional $59,050 on line 4. Otherwise, include 25% of the excess of the amount on line 4 over $776,100. For example, if the amount on line 4 is $796,100, enter $801,100 instead—the additional $5,000 is 25% of $20,000 ($796,100 minus $776,100). Line 10 If you filed Form 1040-NR for 2022 and had a net gain on the disposition of U.S. real property interests, line 10 can't be less than the smaller of that net gain or line 4. Line 11 If for 2022 you claimed the foreign earned income exclusion, housing exclusion, or housing deduction on Form 2555, you must use the Foreign Earned Income Tax Worksheet in these instructions to figure the amount to enter on line 11. Foreign Earned Income Tax Worksheet—Line 11 Tax Tables If Form 8801, line 10, is zero, don't complete this worksheet. 1. Enter the amount from Form 8801, line 10 1. _____ 2a. Enter the amount from your (and your spouse's if filing jointly) 2022 Form 2555, lines 45 and 50 2a. _____ b. Enter the total amount of any itemized deductions or exclusion items you couldn't claim because they are related to excluded income 2b. _____ c. Subtract line 2b from line 2a. If zero or less, enter -0- 2c. _____ 3. Add lines 1 and 2c 3. _____ 4. Tax on the amount on line 3. If for 2022 you reported capital gain distributions directly on Form 1040 or 1040-SR, line 7; or you reported qualified dividends on Form 1040 or 1040-SR, line 3a; or you had a gain on both lines 15 and 16 of Schedule D (Form 1040), enter the amount from line 3 of this worksheet on Form 8801, line 27. Complete the rest of Part III of Form 8801. However, before completing Part III, see Form 2555, later, to see if you must complete Part III with certain modifications. Then enter the amount from Form 8801, line 55, here. All others: If line 3 is $206,100 or less ($103,050 or less if married filing separately for 2022), multiply line 3 by 26% (0.26). Otherwise, multiply line 3 by 28% (0.28) and subtract $4,122 ($2,061 if married filing separately for 2022) from the result. 4. _____ 5. Tax on the amount on line 2c. If line 2c is $206,100 or less ($103,050 or less if married filing separately for 2022), multiply line 2c by 26% (0.26). Otherwise, multiply line 2c by 28% (0.28) and subtract $4,122 ($2,061 if married filing separately for 2022) from the result 5. _____ 6. Subtract line 5 from line 4. Enter the result here and on Form 8801, line 11 6. _____ Line 12 Figuring the minimum tax foreign tax credit on exclusion items (MTFTCE). If you made an election to claim the foreign tax credit on your 2022 Form 1040, 1040-SR, or 1040-NR without filing Form 1116, your MTFTCE is the same as the foreign tax credit on your 2022 Schedule 3 (Form 1040), line 1. Enter that amount on Form 8801, line 12. Otherwise, your MTFTCE is your 2022 AMT foreign tax credit (AMTFTC) refigured using only exclusion items. Figure your MTFTCE as follows. Step 1. Separate your foreign source income into categories. See the 2022 Instructions for Form 1116 for information about categories of income. Complete a separate 2022 Form 1116 for the MTFTCE for each separate category of income. Write “MTFTCE” and specify the category of income in the top margin of each 2022 Form 1116. You will use these MTFTCE Forms 1116 to figure the MTFTCE amount to enter on line 12 of Form 8801. Figuring high-taxed income. When applying the separate categories of income, use the applicable AMT rate instead of the regular tax rate to determine if any income is “high-taxed.” Step 2. Complete Part I of each MTFTCE Form 1116 using only taxable income and exclusion items that are attributable to sources outside the United States. See Foreign source qualified dividends and capital gains (losses) below for possible adjustments. Simplified limitation election. If you figured your 2022 AMTFTC using the simplified limitation election, skip Part I and go to Step 3, Simplified limitation election. Foreign source qualified dividends and capital gains (losses). If you had any 2022 foreign source qualified dividends or foreign source capital gains (including any foreign source capital gain distributions) or losses, use the following instructions to determine whether you must make adjustments to those amounts before you include the amounts on line 1a or line 5 of the MTFTCE Form 1116. Foreign qualified dividends. You must adjust your foreign source qualified dividends before you include those amounts on line 1a of the MTFTCE Form 1116 if: Line 53 of Form 8801 is smaller than line 54, and Line 32 of Form 8801 is greater than zero. But you don't need to make any adjustments if: You qualified for the adjustment exception under Qualified Dividends and Capital Gain Tax Worksheet (Individuals), Qualified Dividends Tax Worksheet (Estates and Trusts), or Adjustments to foreign qualified dividends under Schedule D Filers, whichever applies, in the Instructions for Form 1116 when you completed your regular tax Form 1116 (or you would've qualified for that adjustment exception if you had completed a regular tax Form 1116) for 2022; and Line 32 of Form 8801 isn't more than $206,100 ($103,050 if married filing separately for 2022). To adjust your foreign source qualified dividends, multiply your foreign source qualified dividends in each separate category by 0.5357 (instead of 0.4054) if the foreign source qualified dividends are taxed at a rate of 15%, and by 0.7143 (instead of 0.5405) if they are taxed at a rate of 20%. Include the results on line 1a of the applicable MTFTCE Form 1116. You adjust your foreign source qualified dividends taxed at a rate of 0% by not including them on line 1a of MTFTCE Form 1116. For individuals, the amounts taxed at the 0% rate are on line 9 of the Qualified Dividends and Capital Gain Tax Worksheet in the 2022 Instructions for Form 1040 or line 22 of the Schedule D Tax Worksheet in the 2022 Instructions for Schedule D (Form 1040). For estates and trusts, the amounts taxed at the 0% tax rate are found on line 19 of the Schedule D Tax Worksheet in the 2022 Instructions for Schedule D (Form 1041), or line 8 of the Qualified Dividends Tax Worksheet in the 2022 Instructions for Form 1041, whichever applies. Don’t adjust the amount of any foreign source qualified dividend you elected to include on line 4g of Form 4952. Individuals with capital gain distributions only. If you had no 2022 capital gains or losses other than capital gain distributions from box 2a of Form(s) 1099-DIV or substitute statement(s), you must adjust your foreign source capital gain distributions before you include those amounts on line 1a of the MTFTCE Form 1116 if you are required to adjust your foreign source qualified dividends under the rules just described or you would be required to adjust your foreign source qualified dividends if you had any. To adjust your foreign source capital gain distributions, multiply your foreign source capital gain distributions in each separate category by 0.5357 (instead of 0.4054) if the foreign source capital gain distributions are taxed at a rate of 15%, and by 0.7143 (instead of 0.5405) if they are taxed at a rate of 20%. Include the results on line 1a of the applicable MTFTCE Form 1116. You adjust your foreign source capital gain distributions taxed at a rate of 0% by not including them on line 1a of MTFTCE Form 1116. For individuals, the amounts taxed at the 0% rate are on line 9 of the Qualified Dividends and Capital Gain Tax Worksheet in the 2022 Instructions for Form 1040 or line 22 of the Schedule D Tax Worksheet in the 2022 Instructions for Schedule D (Form 1040). For estates and trusts, the amounts taxed at the 0% tax rate are found on line 19 of the Schedule D Tax Worksheet in the 2022 Instructions for Schedule D (Form 1041), or line 8 of the Qualified Dividends Tax Worksheet in the 2022 Instructions for Form 1041, whichever applies. Don’t adjust the amount of any foreign source capital gain distribution you elected to include on line 4g of Form 4952. Other capital gains or losses. Use Worksheet A in the 2022 Instructions for Form 1116 to determine the adjustments you must make to your foreign source capital gains or losses if you have foreign source capital gains or losses in no more than two separate categories and any of the following apply. You weren't required to make adjustments to your foreign source qualified dividends under the rules described earlier (or you wouldn't have been required to make those adjustments if you had foreign source qualified dividends). Line 15 or 16 of your 2022 Schedule D (Form 1040) (column (2) of line 18a or 19 of Schedule D (Form 1041)) is zero or a loss. You figured your 2022 tax using the Qualified Dividends and Capital Gain Tax Worksheet in the Instructions for Form 1040 and (a) line 3 of that worksheet is zero or less, (b) line 5 of that worksheet is zero, or (c) line 23 of that worksheet is equal to or greater than line 24. You figured your 2022 tax using the Schedule D Tax Worksheet in the Instructions for Schedule D (Form 1040) and (a) line 18 of that worksheet is zero, (b) line 9 of that worksheet is zero or less, or (c) line 45 of that worksheet is equal to or greater than line 46. You figured your 2022 tax using Schedule D (Form 1041) and (a) line 27 of Schedule D is zero, (b) line 22 of Schedule D minus the amount on line 4e of Form 4952 that you elected to include on line 4g of Form 4952 is zero or less, or (c) line 43 of Schedule D is equal to or greater than line 44. You figured your 2022 tax using the Schedule D Tax Worksheet in the Instructions for Schedule D (Form 1041) and (a) line 17a of that worksheet is zero, (b) line 9 of that worksheet is zero or less, or (c) line 42 of that worksheet is equal to or greater than line 43. Use Worksheet B in the 2022 Instructions for Form 1116 if you: Can't use Worksheet A, Had 2022 foreign source capital gains and losses in no more than two separate categories, Didn't have any item of unrecaptured section 1250 gain or 28% rate gain or loss, and Didn't have any capital gains taxed at a rate of 0% or 20%. Instructions for Worksheets A and B. When you complete Worksheet A or Worksheet B, don't use any foreign source capital gains you elected to include on line 4g of Form 4952. Use 0.5357 instead of 0.4054 to complete lines 11, 13, and 15 of Worksheet B and to complete lines 8, 11, and 17 of the Line 15 Worksheet for Worksheet B. If you don't qualify to use Worksheet A or Worksheet B, use the instructions for Capital Gains and Losses in Pub. 514, Foreign Tax Credit for Individuals, to determine the adjustments you make. Also see the 2022 Instructions for Form 6251 for information on rate substitutions that would apply when determining those adjustments. Step 3. Complete lines 9 through 17 of the MTFTCE Form 1116. For line 9, use the same amount you entered on that line for 2022 for the regular tax. Use your MTFTCE carryover, if any, on line 10. Simplified limitation election. If you figured your 2022 AMTFTC using the simplified limitation election, complete lines 9 through 14 of the MTFTCE Form 1116. For line 9, use the same amount you entered on that line for 2022 for the regular tax. Use your MTFTCE carryover, if any, on line 10. Enter on line 17 the same amount you entered on that line for the 2022 AMT Form 1116. Step 4. Enter the amount from Form 8801, line 4, on line 18 of the MTFTCE Form 1116 and go to Step 5 unless you must complete an MTFTCE Worksheet for Line 18. In most cases, you must complete an MTFTCE Worksheet for Line 18 if you completed Part III of Form 8801 and: Line 53 of Form 8801 is smaller than line 54, and Line 32 of Form 8801 is greater than zero. But even if you meet the requirements above, you don't need to complete an MTFTCE Worksheet for Line 18 if: You qualified for the adjustment exception under Qualified Dividends and Capital Gain Tax Worksheet (Individuals), Qualified Dividends Tax Worksheet (Estates and Trusts), or Adjustments to foreign qualified dividends under Schedule D Filers, whichever applies, in the Instructions for Form 1116 when you completed your regular tax Form 1116 (or you would've qualified for that adjustment exception if you had completed a regular tax Form 1116) for 2022; and Line 32 of Form 8801 isn't more than $206,100 ($103,050 if married filing separately for 2022). Instructions for MTFTCE Worksheet for Line 18. If you must complete an MTFTCE Worksheet for Line 18 for your MTFTCE Form 1116, you will use the Worksheet for Line 18 in the Instructions for Form 1116 and do the following. Enter the amount from Form 8801, line 4, on line 1 of the worksheet. Skip lines 2 and 3 of the worksheet. Enter the amount from Form 8801, line 51, on line 4 of the worksheet. Multiply line 4 of the worksheet by 0.1071 (instead of 0.3243). Enter the result on line 5 of the worksheet. Enter the amount from Form 8801, line 48, on line 6 of the worksheet. Multiply line 6 of the worksheet by 0.2857 (instead of 0.4595). Enter the result on line 7 of the worksheet. Enter the amount from Form 8801, line 45, on line 8 of the worksheet. Multiply line 8 of the worksheet by 0.4643 (instead of 0.5946). Enter the result on line 9 of the worksheet. Enter the amount from Form 8801, line 38, on line 10 of the worksheet. Complete lines 11 and 12 of the worksheet as instructed on the worksheet. Enter the amount from your MTFTCE Worksheet for Line 18 on your MTFTCE Form 1116, line 18. Step 5. Enter the amount from Form 8801, line 11, on the MTFTCE Form 1116, line 20. Complete lines 19 through 24 of the MTFTCE Form 1116. Step 6. Complete Part IV of the first MTFTCE Form 1116 only. Enter the amount from that MTFTCE Form 1116, line 35, on Form 8801, line 12. Note. Keep all Forms 1116 you used to figure your MTFTCE, but don't attach them to your tax return. If line 14 of the MTFTCE Form 1116 is greater than line 21 of the MTFTCE Form 1116, keep a record of the difference. This amount is carried forward and used to figure your MTFTCE next year. Part II—Minimum Tax Credit and Carryforward to 2024 Line 20 Enter any qualified electric vehicle credit not allowed for 2022 solely because of the limitation under section 30(b)(3)(B) (as in effect prior to the amendment of section 30 by Public Law 111-5, the American Recovery and Reinvestment Tax Act of 2009). Line 21 If line 21 is zero or less, you don't have a minimum tax credit or a credit carryforward. Don't complete the rest of this form and don't file it. Line 22 Follow the instructions below and refer to your 2023 income tax return to figure the amount to enter on line 22. Form 1040, 1040-SR, or 1040-NR. Add the amounts from Form 1040, 1040-SR, or 1040-NR, line 16 and Schedule 2 (Form 1040), line 2. Subtract from the result the total of any credits fromForm 1040, 1040-SR, or 1040-NR, line 19 and Schedule 3 (Form 1040), lines 1 through 6z (not including any credit for prior year minimum tax on line 6b or any credit claimed on Form 8912, Credit to Holders of Tax Credit Bonds, on line 6k). Enter the result. If the result is zero or less, enter -0-. Form 1041, Schedule G. Add the credits on lines 2a and 2b, plus any write-in credits on line 2e. Subtract the result from the total of lines 1a and 1b, plus any Form 8978 amount included on line 1d. Enter the result. If the result is zero or less, enter -0-. Part III—Tax Computation Using Maximum Capital Gains Rates If your 2022 taxable income was zero or less, enter -0- on Form 8801, line 35. You must also take one of the following actions, whichever applies to you, before completing lines 28, 29, and 30 of Part III. Complete lines 2 through 4 of the Qualified Dividends and Capital Gain Tax Worksheet in the 2022 Instructions for Form 1040. Complete lines 2 through 13 of the Schedule D Tax Worksheet in the 2022 Instructions for Schedule D (Form 1040) or the 2022 Instructions for Schedule D (Form 1041), whichever applies. Complete lines 2 through 4 of the Qualified Dividends Tax Worksheet in the 2022 Instructions for Form 1041. Complete lines 22 through 26 of the 2022 Schedule D (Form 1041). To determine which worksheet or form above applies to you, see the 2022 Instructions for Form 1040, line 16; Form 1040-NR, line 16; or Form 1041, Schedule G, line 1a. Lines 28, 29, and 30 Follow the instructions below to figure the amounts to enter on lines 28, 29, and 30 if, for 2022: You filed Form 1041 and didn't use the Schedule D Tax Worksheet or Part V of Schedule D (Form 1041) to figure your tax, or You filed Form 2555 and have an AMT capital gain excess (defined later). Otherwise, complete lines 28, 29, and 30 following the instructions for those lines on the form. Estates and trusts. If (1) above applies, enter the amount from line 4 of the Qualified Dividends Tax Worksheet in the 2022 Instructions for Form 1041 on Form 8801, lines 28 and 30; skip Form 8801, line 29; and enter on Form 8801, lines 35 and 42, the amount from line 5 of that worksheet. Form 2555. If (2) above applies, and you filed Form 2555 for 2022 and you have an AMT capital gain excess, you must complete Part III of Form 8801 with certain modifications. To see if you have an AMT capital gain excess, subtract Form 8801, line 10, from line 4 of your 2022 Qualified Dividends and Capital Gain Tax Worksheet or line 10 of your 2022 Schedule D Tax Worksheet, whichever applies. If the result is more than zero, that amount is your AMT capital gain excess. If you have an AMT capital gain excess, figure the amounts to enter on lines 28, 29, and 30 of Form 8801 using the following modifications (only for purposes of Part III of Form 8801). Reduce the amount on line 3 of your 2022 Qualified Dividends and Capital Gain Tax Worksheet or line 9 of your 2022 Schedule D Tax Worksheet (but not below zero) by your AMT capital gain excess. Reduce the amount on line 2 of your 2022 Qualified Dividends and Capital Gain Tax Worksheet or line 6 of your 2022 Schedule D Tax Worksheet (but not below zero) by any of your AMT capital gain excess not used in (1). Reduce the amount on your 2022 Schedule D (Form 1040), line 18 (but not below zero) by your AMT capital gain excess. Include your AMT capital gain excess as a loss on line 16 of your 2022 Unrecaptured Section 1250 Gain Worksheet in the 2022 Instructions for Schedule D (Form 1040). Also see the instructions for line 35. Line 35 Form 2555. If you filed Form 2555 for 2022, the amount you enter on line 35 will take into account your regular tax capital gain excess, if any, for 2022. If you filed Form 2555 for 2022 and you didn't complete either the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet for the regular tax, enter the amount from line 3 of the Foreign Earned Income Tax Worksheet in the Instructions for Form 1040 (as figured for the regular tax). For information on regular tax capital gain excess and AMT capital gain excess (if you filed Form 2555), see Line 20 in the 2022 Instructions for Form 6251. Line 42 Follow the instructions below to figure the amount to enter on line 42. Form 1040, 1040-SR, or 1040-NR. If you didn't complete the 2022 Qualified Dividends and Capital Gain Tax Worksheet or the 2022 Schedule D Tax Worksheet, enter the amount from your 2022 Form 1040, 1040-SR, or 1040-NR, line 15; if zero or less, enter -0-. If you didn't complete either 2022 worksheet and you filed a 2022 Form 2555, enter the amount from line 3 of the Foreign Earned Income Tax Worksheet in the 2022 Instructions for Form 1040. Instructions for Form 8801 - Notices 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. You are not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are confidential, as required by section 6103. The time needed to complete and file this form will vary depending on individual circumstances. The estimated burden for individual taxpayers filing this form is approved under OMB control number 1545-0074 and is included in the estimates shown in the instructions for their individual income tax return. The estimated burden for all other taxpayers who file this form is shown below. Recordkeeping 2 hrs., 4 min. Learning about the law or the form 2 hrs., 13 min. Preparing the form 1 hr., 57 min. Copying, assembling, and sending the form to the IRS 48 min. If you have comments concerning the accuracy of these time estimates or suggestions for making this form simpler, we would be happy to hear from you. See the instructions for the tax return with which this form is filed.
