Line 40427 - Minimum tax carryover
Line 40427 - Minimum tax carryover
If you paid minimum tax on any of your returns for 2015 to 2023, but do not have to pay minimum tax for 2024, you may be able to claim credits against your taxes for 2024 for all or part of the minimum tax that you paid in those years.
To calculate your claim, complete the parts of Form T691, Alternative Minimum Tax, that apply to you and enter the result on line 40427 of your return.
For information about minimum tax, see line 41700 on page 47.
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