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- Why is it asking for AMT when doing a loss carryover for home sale?
Why is it asking for AMT when doing a loss carryover for home sale?
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amymillion
Level 1
06-02-2023
12:49 PM
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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.
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3 Comments 3
abctax55
Level 15
06-02-2023
01:06 PM
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AMT losses may be the same as regular losses, or they may be different.
Either way, the AMT losses have to be entered.
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abctax55
Level 15
06-05-2023
11:34 AM
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Hmmm Bob. Good point, I missed the part about a 'home' that is in the subject line.
"*******Tax software is no substitute for a professional tax preparer*******
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