AMT carryover
Where do I enter my AMT carryover? There doesn't appear to be any screen for me to do this? I paid for the chat option and even the person on the chat doesn't know and has to get back to me.
Does anyone here know?
Answers
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Along the top as you enter your tax data select - "Deductions / Credits"
This will open a drop down and under "Other Deductions / Credit" (second from the bottom) is "Prior Year Minimum Tax credit" if you click on this it says - "If you've paid any Alternative Minimum Tax (AMT) in past years".
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Okay, great. Now where do I find the answer to my question?
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So you marked every question as Yes and you didn't come to a screen to enter values in this section. Even if you don't have the noted items in the questions mark them all as yes. Fill in the blanks that you have information to provide and leave the others blank.
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I didn't actually pay AMT last year. But I have an investment with AMT differences. I was hoping to enter the differences in the software so I didn't have to track them on a spreadsheet (I'm not a tax person, so I want a software that can do that). But since I didn't actually pay AMT or have differences on the lines the software asks about, the software sees this as a non issue. But if I do fall into AMT in the future, then I will have to know these differences. Anyway, I also contacted their support and there is no way for me to enter these prior return differences if I do not actually pay AMT. I asked.