AMT Investment interest expense disallowed carryover

JoeP
JoeP Member Posts: 2 Newcomer
in Credits/Deductions

Hey everyone.

Trying to move away from TT… desperately.

This year in TT, it properly imported the disallowed AMT interest expense from last years return. I haven't seen a way to do the same with FreeTaxUSA.

Am I missing something? Thanks!

Tagged:

Comments

  • JoeP
    JoeP Member Posts: 2 Newcomer

    Just to add - it appears in my 2023 taxes, where I did not pay AMT, nor did I in 2022 from what I can tell… That my my investment interest (in 2023) had zero carried forward. It was used to offset my investment gains.

    So it's peculiar that in my 2023 TT Carryover worksheet, is showing thousands of dollars of 2023 AMT investment interest expense disallowed. I mean all of my investment interest was 'used up' on form 4952, and I have no idea why TT would need to try to track it further… For AMT or otherwise.

  • WrenD
    WrenD FreeTaxUSA Agent Posts: 37

    Hello JoeP,

    We would need to know more information regarding your prior year returns and carryovers since this is your first year filing with us. Since we do not want you to divulge too much personal information here on this public forum, we would ask that you contact Customer Support from within your account. This will allow one of our agents to ask the necessary follow up questions to properly answer your question regarding this.

Categories