You might be eligible for the AMT credit on this year’s taxes if you got hit with the AMT in a prior tax year because you exercised ISOs or claimed accelerated depreciation.
When you get to the screen that asks if you paid AMT in the past and had timing items, answer Yes and follow our onscreen instructions to calculate this credit.
To revisit that section:
- Login to your account.
- Select Federal from the left menu.
- Go to Deductions and Credits.
- Scroll down to Estimates and Other Taxes Paid
- Click Edit next to Credit for AMT paid in Prior Year.
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