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Posted by George Timms on February 25, 2007, 4:41 am
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I did not complete section III (Tax Computation using
Maximum Capital Gains Rates) on my 2005 form 8801, so the
tax software I use computed a credit carryforward (on line
26) that was too small. I want to correct the carryforward
in hopes that I may someday be able to claim the credit (on
the perhaps unreasonable assumption that sooner or later
Congress will push the AMT boundary so it only hits the
truely wealthy instead of "working stiffs" like me)
This correction does not change either 2004 federal tax or
2004 (Minnesota) state tax.
Should/must I file form 1040X (amended form 1040) for 2005
and include the corrected form 8801?
Anybody know whether Minnesota wants to see form M1X
(amended form M1) along with a copy of corrected federal
form 8801? (I don't believe Minnesota uses any of the
information on federal form 8801, at least not for taxpayers
like me who are not subject to state AMT)
--
George Timms
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