Why does line 3 of the Schedule J now ask for form 8991 instead of 4626?
Beginning in tax year 2018 the 1120 page 3, Schedule J line 3 will no longer ask for you to calculate and attach form 4626 for AMT. Instead, the Schedule J will ask for you to calculate and attach form 8991 Tax on Base Erosion Payments of Taxpayers with Substantial Gross Receipts.
Tax year 17 and prior:
Beginning in tax year 18:
The purpose of form 8991 is to determine, and calculate the corporations base erosion minimum tax amount. For further information, please see the instructions for forms 8991 and the 1120.
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