Schedule 1: Line 40427 - Minimum Tax Carryover

Entering this Amount (from Forms):

Minimum tax


  1. Report your income as you usually would on the appropriate lines of your return. Be sure to enter all your income.
  2. Enter previous year net capital losses on Form LOSS - Loss Worksheet. Enter your inclusion rate for 2000 on Form CARRY - Carry Forwards from [last year] worksheet. You can find this rate on line 16 in Part 4 of your Schedule 3 for 2000 or on your 2000 Notice of Assessment.
  3. Then complete Form T691, Alternative Minimum Tax, to calculate this tax.

    TurboTax completes much of the form for you. However, you should still review it as well as the additional information below.

Entering this Amount (from Interview):

Minimum tax (interview)

Enter this information in the DEDUCTIONS & CREDITS section of the interview, under Other deductions.

Related information
T691 - Alternative Minimum Tax