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Level 4
March 5, 2022
Question

Pro Series - for the excluded amount on the sale of a home is there really AMT on the exclusion? If not, I'm not sure what I'm doing wrong on the forms.

  • March 5, 2022
  • 1 reply
  • 11 views
Client is elderly and had to move to a manufactured house.  She sold her main home.  In proseries, the tax calculation is including the $250k exemption in the AMT calculation.  Is this right?
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1 reply

Level 15
March 5, 2022

You are saying it is NOT making it tax free for AMT purposes?

If so, where is that 'extra' income showing up on Form 6251?

AJMorrisAuthor
Level 4
March 5, 2022

The excluded gain is auto populating on line 2k of 6251, and from there calculating AMT.  Thanks for responding.

Level 15
March 5, 2022

That seems to be a program error.  There is nothing that says the exclusion is not used for AMT purposes.