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Get your taxes done using TurboTax
Thanks for the answer. I couldn't find anything under the 'Special issues' link you sent or in the line 8 section of 6251 instructions. Can you quote what you were referring to?
But I found some info in the 'Record Keeping' section of 6251 instructions:
"Keep records that show how you
figured income, deductions, etc., for the
AMT. (...) For example, you will need
to separately figure and track certain
carrybacks, carryforwards, (...)"
IT's not 100% clear, but you could argue it implies that carryovers are kept in 1116 AMT even if you are not hitting AMT.
But 1116-schB AMT and non-AMT are different because it's assuming the non-simplified method, right? Why?
‎April 16, 2024
9:53 PM