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Level 3
posted Mar 12, 2021 9:01:02 AM

Have a Husband Wife LLC (Partnership) vehicle and I need to deduct UPE. The vehicle was previously depreciated under a different business. Turbo Tax generates Form 4065 and AMT. Do I need to keep the AMT Form?

We have a Husband Wife LLC (Partnership) vehicle. I am required to pay supplemental business expenses (unreimbursed partnership expenses-UPE)  as this is my personal vehicle but was used only for Business driving. I am attempting to get reimbursed using the Standard Mileage Deduction for the miles driven. This Vehicle was previously completely depreciated under a different business. Turbo Tax automatically generates Form 4065 and Alternative Minimum Tax Depreciation (AMT) Report. Since there is nothing to depreciate, do I need the AMT Form or should I just delete it?

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1 Replies
Expert Alumni
Mar 14, 2021 12:08:59 PM

The AMT form should not be having any impact on your return.  It should do no harm to leave it in.