Forgot about AMT credit carry forward from 2019, do I need to amend returns from 2020, 2021, and 2022?

You're right that you'll need to amend your prior returns to properly claim the AMT credit carry forward that got dropped. Unfortunately, there's no shortcut where you can just claim it all on your current year return. Start by filing Form 1040-X for 2020 along with a corrected Form 8801 showing the proper credit carry forward from 2019. Once that amendment is processed, you'll need to file amendments for 2021, 2022, and 2023 in sequence, as each year's Form 8801 depends on the previous year's calculations. The good news is you're still within the amendment window! Generally, you have 3 years from the original filing date to amend returns. For 2020 returns filed in 2021, you still have time remaining. Keep detailed records of the original AMT credit carryover amount and how much was used each year. You'll want documentation that clearly shows the credit progression from year to year.

After dealing with a similar AMT credit situation last year, I found an amazing tool that saved me hours of headache - https://taxr.ai really simplified the whole process! I had to trace AMT credits through multiple years and wasn't sure how the carry forwards were supposed to work. I uploaded my previous returns and it immediately identified where my AMT credit tracking went wrong when I switched from TurboTax to H&R Block. The platform showed me exactly what forms needed correction and generated the proper 8801 sequences showing the carry forward amounts for each year. It can analyze your previous returns and tell you exactly what happened to your credit carryover when you switched software. The best part was it created draft amended returns in the correct sequence so I could see the full impact before filing anything.

I was skeptical about taxr.ai when someone recommended it for my foreign tax credit issue, but I decided to give it a try since I had nothing to lose. Honestly, I'm amazed at how well it worked for my complex situation. My problem was similar - I had foreign tax credits that disappeared when switching tax software, and I needed to track them across multiple years. The tool analyzed all my returns simultaneously and created a complete visualization showing exactly where the credits got dropped and how to fix each year. The amendments were surprisingly straightforward once I had their analysis. They showed me exactly which lines on each form needed correction and generated pre-filled worksheets. I was able to file all my amendments with confidence, and just got my first refund check last week! Definitely worth checking out if you're dealing with credit carryovers.

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Just wanted to add a small tip regarding amending multiple years for AMT credits - make sure you're using the correct version of Form 8801 for each tax year! The form gets updated almost every year, and using the wrong version can cause processing delays. Also, include a clear cover letter with each amendment explaining that this is part of a sequence of amendments to correct an AMT credit carryforward. When I did this for a client, numbering the amendments (e.g., "This is amendment 1 of 4") helped keep everything organized and properly processed. One last thing - you mentioned a 3-year limitation on amendments, but if the amendment results in additional tax owed, the IRS actually has up to 6 years to assess additional tax if the error resulted in underreporting income by more than 25%. Just something to keep in mind!

Is anyone familiar with the current processing time for amendments involving Form 8801? I filed a similar amendment about 4 months ago and haven't heard anything yet. The "Where's My Amended Return" tool just says it's been received.

I went through this exact same situation last year when I switched from TaxAct to FreeTaxUSA and my AMT credit from 2018 completely vanished. It's frustrating but you're absolutely on the right track with the sequential amendment approach. A few things that helped me navigate this process: 1. Before filing any amendments, I created a detailed spreadsheet tracking my original AMT payment year, the credit amounts that should have carried forward each year, and what was actually claimed. This became invaluable reference material. 2. When I filed my 2020 amendment, I included copies of my original 2019 Form 8801 showing the credit carryover that got lost. The IRS processor appreciated having that documentation right in front of them. 3. Be prepared for long processing times - my first amendment took about 20 weeks, but once it was approved, the subsequent years seemed to move faster (maybe 12-16 weeks each). 4. Keep detailed records of when you mail each amendment and get delivery confirmation. The IRS lost one of mine initially and I had to refile it. The good news is you caught this in time and you're definitely due those refunds plus interest! It's tedious but worth it in the end.