Support for Form 3921

Confused06
Confused06 Member Posts: 1 Newcomer
in Income

I have excercised options from my employer which is privately held. I have the form 3921 and AMT calculation has to be done on my returns to determine if I need to file under AMT. How do I do that here? I cannot see any option to do the AMT calculation or enter details from 3921 in Income section. Is it under Misc?

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Best Answers

  • MatthewD
    MatthewD FreeTaxUSA Admin, FreeTaxUSA Agent Posts: 963 image
    Answer ✓

    Hello,

    I am sorry, but our software does not have this option to calculate for AMT when you exercise an ESPP. You can see a list of our federal supported form here.

  • GeorgeM
    GeorgeM FreeTaxUSA Agent Posts: 98 image
    Answer ✓
    Hello ImTryingToFileTaxes:

    Yes, you will need to use a different tax preparation software to report your incentive stock option given that it appears the AMT may apply in your situation. Unfortunately, at this time, our software does not support calculating the income for the AMT, nor does it support calculating the AMT adjustment.

Answers

  • ImTryingToFileTaxes
    ImTryingToFileTaxes Member Posts: 1 Newcomer

    This is not a helpful response. Is your advice to not use this software? Or is there a way to submit this information a different way?

  • dyl
    dyl Member Posts: 1 Newcomer

    I'm shocked to hear there's no way to calculate income manually for AMT or calculate the adjustment. If I can't fill out the AMT myself, I can't accurately model my ISO exercises. Next year when I have to do that, I'll be churning to TurboTax as a result after 5 years of using FreeTaxUSA as that's a vital step in exercising ISOs. Please prioritize allowing manually filling out the form for tax season 2026!

  • z0d
    z0d Member Posts: 1 Newcomer

    I also would appreciate being able to do this. It's pretty common in my industry

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