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

What causes a NOL to trigger form 6251?

dkutej
Level 2

  I have a NOL carryforward on a 2017 personal tax return which lowered the income to a positive 84k but then there is a AMT of 81k.  Is there an adjustment I need to make? 

0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Best Answer

Accepted Solutions
sjrcpa
Level 15

Both the amount of the NOL and the NOL allowed for AMT purposes are different than the amounts  for regular tax purposes. Look at the 6251 and instructions. You may have to make some adjustment in ProSeries . I use Lacerte which gets it right. On the other hand, ProSeries may be right.

The more I know, the more I don't know.

View solution in original post

0 Cheers
1 Comment 1
sjrcpa
Level 15

Both the amount of the NOL and the NOL allowed for AMT purposes are different than the amounts  for regular tax purposes. Look at the 6251 and instructions. You may have to make some adjustment in ProSeries . I use Lacerte which gets it right. On the other hand, ProSeries may be right.

The more I know, the more I don't know.
0 Cheers