T691: Alternative Minimum Tax
T691 is the Canada Revenue Agency form individuals use to calculate alternative minimum tax, a parallel calculation that can apply when certain gains, deductions or credits reduce regular tax below a set floor.
This is the genuine CRA PDF, unmodified. Source: CRA official page.
What is T691?
T691, Alternative Minimum Tax, is a Canada Revenue Agency form that recalculates tax under a minimum tax system. It applies to individuals who benefit heavily from items such as capital gains, stock option benefits, tax shelter losses, or certain deductions and credits. The form determines a minimum amount of tax and, where it exceeds your regular tax, the difference becomes payable and may be carried forward against regular tax in future years.
T691 is a dynamic PDF that the CRA publishes in Adobe XFA format. It does not fill in a web browser, so it will not display in the in-browser editor or quick-fill form here. Download it and open it in Adobe Acrobat Reader to complete the calculation, then file it with your return.
Who files T691?
- Individuals with large capital gains that reduce their regular tax substantially
- Taxpayers claiming stock option deductions or tax shelter losses
- People who claimed deductions or credits that trigger the minimum tax calculation
- Anyone carrying forward a minimum tax amount from a previous year
How to fill out T691
- Download the form and open it in Adobe Acrobat Reader, since it is a dynamic PDF that will not fill in a browser.
- Enter your taxable income and add back the specified preference items and adjustments.
- Apply the basic exemption and calculate the minimum amount of tax.
- Compare the minimum tax with your regular tax to find any additional tax payable or carryforward.
- Carry the result to your T1 return and file the form with the Canada Revenue Agency.
Get T691
This is a dynamic PDF from CRA: it only fills in correctly in Adobe Acrobat Reader, so there is no in-browser fill here. Download the genuine T691 below and open it in the free Adobe Acrobat Reader to complete and save it.
Download the official T691 PDFFrequently asked questions
What triggers alternative minimum tax?
Items that lower your regular tax sharply, such as large capital gains, stock option benefits, or certain deductions and credits. T691 tests whether a minimum amount of tax applies instead.
Can minimum tax be recovered later?
Additional minimum tax you pay can generally be carried forward and applied against regular tax in future years, subject to limits. Track the carryforward on future returns.