Line 40427 – Minimum tax carryover

If you paid minimum tax on any of your 2015 to 2022 returns, but you do not have to pay minimum tax for 2023, you may be able to claim credits against your taxes for 2023 for all or part of the minimum tax you paid in those years.

To calculate your claim, complete the parts of Form T691, Alternative Minimum Tax that apply.

Completing your tax return

Complete Form T691 to calculate your claim for minimum tax carryover and enter the result on line 40427 of your return.

If you are filing electronically, keep your Form T691 for your records. If you are filing a paper return, attach your Form T691.

Be sure to complete Form 428 for your province or territory of residence as the provincial or territorial credit is calculated separately.

For Quebec residents, complete the corresponding form and attach it to your provincial tax return for Quebec.

Forms and publications

• Income Tax Package
• Form T691, Alternative Minimum Tax
• Form TP-776.42, Alternative Minimum Tax (Revenu Québec)

Related topics

• Minimum tax