T4X
Level 1
03-07-2026
10:39 PM
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The return year was 2024
From my understanding, the AMT would go to schedule 2 and then flow to 1040
They were subject to AMT because the AMT income came out higher than regular taxable income
The IRS letter says "we changed the amount of capital gain or loss on your tax return because there was an error on your schedule D, capital gains and losses. The error was in one of the following:
-Computation of the capital gain or loss on schedule D
-transfer of that amount to your tax return
-capital losses are limited to $3,000"