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Get your taxes done using TurboTax
OK I partially see at least.
Both are "correct" but there is some difference in the shadow wold of AMT. I need to compare my 6251 forms closer. But high level I have carry over AMT credits, and if I itemize I can some how take $5K of those, but if I take the standard deduction, I can only take $2K. So yeah credit > deduction. I need to re-read the details on my AMT carry over credit, but I think I'm better off long term taking the standard deduction, the itemized approach, gets me a $600 larger refund, but at the cost pf $3K of AMT carryover credit...
Fun stuff
Turbotax doesn't make this trade off clear, but I guess it's pretty out in the weeds.
March 14, 2021
4:45 PM