Carried forward an NOL that has reduced 2021 AGI but adds back in the AMT calculation resulting in the NOL "credit" being fully taxed for an effective 70% tax rate on AGI? Is there a glitch in the program or is this a possible scenario?
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It's possible.
Also possible - you don't have the amount of the AMT NOL entered.
We fully utilized the AMT NOL in previous years
Then the return sounds like it is accurate.
Thanks for the input---this means that the remaining regular NOL that we utilized for 2021 provided no tax savings
If they're in AMT that is correct.
Thanks!
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