I understand that I should update the AMT gain or loss adjustment in the Other Tax Situations section. But I'm not 100% confident in what TurboTax is asking for this field. Using the example offered in the original post:
Strike price: $2.38
FMV when ISO was exercised: $35.0
Actual price when sold: $25.4
total number of shares: 2350
Regular tax long term capital gain: 2350 * (25.4 - 2.38) = $54,097
AMT long term capital gain: 2350 * (25.4 - 35) = $-22,560
What number is the box for long-term AMT gain or loss adjustment in Turbo tax asking for?? is it the $-22,560 or ($-22,560 - $54,097)? or some other value??
