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Get your taxes done using TurboTax
When I added IDC as other income adjustment to CA the IDC became taxable income and shows addition CA tax due amount because of this. However, there is no AMT shown in form 540 line 61 but if I manually prepare California Schedule P(540) for Alternative Minimum Tax and 2024 Credit Limitations — Residents, it asks to enter certain amount as AMT in form 540 line 61, which higher than the above mentioned CA tax due amount. Why is this AMT discrepancy? Thanks.
April 25, 2025
8:35 PM