In this article, formability of tailor laminated sheets in single point incremental forming (SPIF) is investigated using forming limit curve (FLC) and maximum formable wall angle determined theoretically and incremental sheet forming tests. Two different sheet materials namely aluminum alloy AA5083 and polycarbonate were laminated in two different configurations, that is, AA5083/PC, and AA5083/PC/AA5083. FLCs were determined for the laminated sheets using deformation instability method and compared to that of the base sheets. It was observed that formability of the laminated sheets was higher than that of the PC and AA5083 sheets for plane strain case. The maximum formable wall angle was determined by varying the wall angle till the onset of fracture through deforming the sheet into square pyramid shapes. Deformation depths at the onset of fracture for the incrementally formed laminated sheets got decreased with the increase of forming wall angle. Optical macrographs of the cross-sections of the deformed laminated sheets with maximum forming wall angles were taken, and variations of sheet thicknesses along the center line of the deformed sheets were compared for the different cases. Higher triaxiality of AA5083/PC/AA5083 sheet results in lower formability compared to AA5083/PC sheet obtained from membrane analysis. Formation of bump structure due to delamination during SPIF of laminated sheets could be avoided using proper selection of tool path.