3510: Credit for Prior Year Alternative Minimum Tax - Individuals or Fiduciaries (2024)
California · FTB · Used for tax years 2024
California Form 3510 calculates the credit for prior year alternative minimum tax (AMT) for individuals or fiduciaries. It figures the credit available for 2024 and any unused AMT credit carryover to 2025, and is attached to your California tax return.
Who files this form
Form FTB 3510 is for individuals or fiduciaries calculating a credit for prior-year alternative minimum tax (AMT). It includes calculations for filers of California Forms 540, 540NR, and 541.
The form does not state a complete rule for who must file it.
What you'll need
Have these records available to complete the form:
- Your 2023 Schedule P (540, 540NR, or 541), for prior-year AMT and other tax amounts.
- For Form 540 or 540NR filers, the 2023 Schedule P instructions' line 22 Exemption Worksheet, for amounts requested on lines 5 and 6.
- Records of any unused AMT credit carried over from 2023.
- Your 2024 Form 540, 540NR, or 541, for your regular tax amount.
- Your 2024 Schedule P (540, 540NR, or 541), where you enter the calculated credit.
You will also need your name as shown on your tax return and your SSN, ITIN, or FEIN. Several lines refer to instructions that are not included in the supplied text.
How to file
Attach Form FTB 3510 to your California tax return.
Enter the credit from line 38 in column (b) of your 2024 Schedule P:
- Schedule P (540), Part III, line 10.
- Schedule P (540NR), Part III, line 10.
- Schedule P (541), Part IV, line 9.
The supplied form does not provide a mailing address or e-file directions.
Common mistakes
- Skipping Section B as a Form 540NR filer. The form directs Form 540NR filers to complete both Sections A and B.
- Exceeding the limits on lines 21 and 24. Neither entry may be more than 1.0000.
- Completing lines 21 and 22 when you did not itemize deductions. In Section B, the form says to enter the line 20 result on line 23, skip lines 21 and 22, and go to line 24.
- Changing a negative line 30 result to zero. Line 30 specifically says to enter a negative amount if the result is less than zero.
- Missing special instructions. The form directs you to instructions if you were married/RDP filing separately for 2023 and line 4 exceeds $450,368, or if you are completing line 9 for a certain child under age 24.
Questions people ask
Which years does the 2024 form use?
Part I uses amounts from your 2023 Schedule P. Part II uses your 2023 AMT and unused credit carryover, along with your 2024 regular tax, credits, and tentative minimum tax.
How is the prior-year AMT credit amount selected?
Line 38 takes the smaller of line 32 or line 37. That amount is entered on your 2024 Schedule P in the location specified on the form.
Does the form calculate a credit carryover to 2025?
Yes. Line 39 subtracts line 38 from line 32. The form identifies the result as your AMT credit carryover to 2025.
Which net AMT on exclusions amount do Form 540NR filers use?
For line 29, Form 540NR filers use the amount from Section B, line 27, rather than line 13.