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Hi Mike (and team),
Thanks for quick and detailed response. The additional context around recapturing depreciation (if applicable) being the reason they touch home sale in AMT makes sense.
Is there any IRS publication that explicitly talks about this / states that the exclusion doesn't have to be "taken out" when computing AMT. Or are you inferring this by following the steps for calculating regular 1040 tax (where you take the exclusion), then following the steps for AMT and not seeing anything that asks filer to "take out" the home sale exemption of 250k/500k?
‎October 31, 2023
1:12 PM