Without seeing your return, I am not sure what is going on. Every year your return is calculated first for regular tax and then for AMT tax. You end up paying the higher of the 2 taxes each year. The only item of AMT that is carried forward is the AMT credit (TMT) that is generated by only a few items such as incentive stock options and depreciation differences. Please see if you had Form 8801 in your 2018 tax return. This is the form that keeps track of any AMT credit carryforward.
You may have entered information into TurboTax regarding possible AMT credit from prior years that is incorrect..
If you did have an AMT credit carryforward it would reduce your taxes, not increase your taxes.
To see if you entered any information for AMT credit carryover in 2019 TurboTax:
- Open Federal Taxes
- Click on Deductions & Credits
- Scroll Down to Estimates and Other Taxes Paid
- Scroll Down to Credit for AMT Paid in Prior Years.
- Click Start or Update
Keep us posted.
[Edited 02.24.20 | 2:00 pm]
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
