Working on my first 1041 in 25 years. I have no alternative min. tax on the 1041 but the software is putting an amount on line 12 of the K-1 with an A. On the schedule I the return shows on line 27 $371.00 but because it is less than $25,400 there is no alternative min. tax due. Should the beneficiaries be charge the alternative min. tax?
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12A is information for the beneficiaries to use in their AMT calculations. It is not AMT.
Does the 1041 have a deduction for taxes?
12A is information for the beneficiaries to use in their AMT calculations. It is not AMT.
Yes property tax paid on some real estate
Tax is an AMT adjustment.
Thank you so much
Thank you so much for your help
You're welcome.
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