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?
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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.
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.
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