I have credit from prior year(s) which TT picks up fine (thank you!). Quick question:
As I play around with it by adding a dummy stock sale, it doesn't seem to offset tax penalty 1:1 after a certain point. Example, I have more AMT tax credit from prior years than tax due but it maxes the credit out at a certain point. Is that true?
Edited and based on what I find in Form 6251:
There is an upper limit and it appears to be $126.5K for MFJ, different for other filers and then a plethora of number crunching which spins your head to arrive at the conclusion which I wish wasn't true. Alas!
Feel free to comment.
Thank you all.
