Why is it asking for AMT when doing a loss carryover for home sale?

amymillion · ‎06-02-2023

I'm amending a 2020 return to include a loss carryover from 2018 and 2019 but Intuit is saying I need to enter AMT amounts before clearing diagnostics. AMT is not applicable here. Tax payer is w-2 employee with 37,000 income and taxes were withheld, she received a refund. She has a loss carryover of $3000 for a total of $15,000 loss in 2018.

abctax55 · ‎06-02-2023

AMT losses may be the same as regular losses, or they may be different.

Either way, the AMT losses have to be entered.

HumanKind... Be Both

BobKamman · ‎06-03-2023

I'm still trying to figure out how you could have a loss on a home sale. Maybe it wasn't the taxpayer's home, it was a rental?

abctax55 · ‎06-05-2023

Hmmm Bob. Good point, I missed the part about a 'home' that is in the subject line.

HumanKind... Be Both