Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

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

amymillion
Level 1
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.
0 Cheers
3 Comments 3
abctax55
Level 15

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
Level 15

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
Level 15

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

HumanKind... Be Both
0 Cheers