AMT credit for ISO stock sale with exercise in 2020

[Lori f]

What worksheet do i use in Pro Series to enter the ISO stock sale which qaulifies for AMT credit? there was iso exercise and i see that on the 6251, but i can't get the credit to populate on that form. I must not understand the Proseries process. any help would be great. lori

[sjrcpa]

Minimum tax credit is Form 8801.

Or do you mean the adjustment on Form 6251 Line 2i?

[Lori f]

adjustment 6251

[hcliston]

Thank you for the info you've provided on ISOs.

I just want to check another aspect of this. I'm working with a client who exercised some ISOs over several years, and in 2022 she finally sold it all. So we have some AMT tax credits to use.

I use Intuit ProSeries Basic. I think I'm handling things right, but I want to be as sure as possible. So I would like to SEE exactly what the system is using for her ISO regular basis and especially her ISO AMT basis. Where can I see those and/or change those if necessary?

Thank you!

[kdaglobal]

Hcliston - did you ever happen to figure this out? I have this exact situation happening for 2023 and we are trying to tax plan.  I am struggling to enter everything properly into PS. TY

[hcliston]

No. Unfortunately, I was not able to figure this out, and I did not get any replies that helped with it. 😞  

It's important, of course--so good luck!  And please share if you learn anything.

Best,

Heather