You might be able to claim a credit on this year's return if you paid the AMT (alternative minimum tax) in a prior year because of timing items.
Timing items are certain income items that you can postpone paying taxes on, the most common ones being incentive stock options (ISOs) and intangible drilling costs connected with an oil or gas activity.
If you used TurboTax last year and you qualify, we’ll handle this credit for you.
If you want to try this:
- Federal
- Deductions & Credits
- Estimates and Other Taxes Paid
- Credit for AMT Paid in Prior Year
