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2018 TT Premier not calculating AMT (6251) for children under 24 correctly
Have a non dependent child under 24 (9) and in doing their taxes noticed TT incorrectly calculated taxes via AMT. It incorrectly calculates AMT as not needed when in fact it is. In looking at how it calculated form 6251 it misses that the child is under 24 and calculates line 5 incorrectly. Since he would fit the under 24 exemption exception, it should use the lesser child exemption, instead it simply assumes the adult single exemption of $70,300 instead of the correct $7,600 exemption. This causes AMT calculation to net to 0 which is incorrect.
Am I missing something? otherwise TT needs to correct this to avoid people in this situation under reporting.
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‎November 22, 2019
6:28 AM