amt bonus depreciation opt out

[michele]

I have a client that sold property with $752,000 depreciation used but the amt is showing $798,000

used. Does it force bonus deprciation as being used even when it was opted out earlier.

I didn't know if there was a reg that stated you had to take bonus on amt when  it was not on regular deprediation. The bonus is the only thing I can figure for why it is showing more amt depreciation.

thx

Michele

[sjrcpa]

If you took bonus for regular tax you took it for AMT. There is no AMT only opt out.

[michele]

Thx. We can not see why the amt depreciation used is more than regular depreciation used.,Which is forcing them to pay an amt tax. This is on an 1120s. that flow to the 1040. I have scoured the schedules and don’t like to make adjustments . Trying to figure out how lacerte figured it that way

[sjrcpa]

I'd manually compute the AMT depreciation and enter it. You can go back to year placed in service and see where Lacerte went wrong.

Lacerte was doing some doubling of AMT depreciation

Re: Sale of Truck - should 4797 Part III line 22 D... - Intuit Accountants Community