ywondery
New Member

Exercise of ISOs that previously paid AMT, now calculating sale gain in current year

I exercised ISOs in 2018 at $3 per share, FMV was $23; therefore, I paid AMT in 2018. I sold them in 2021 for $25. Turbotax is showing a long-term capital gain at $25-3, vs $25-23. Is this right? If not, how do I fix it in turbotax? I would have expected the new cost basis on the sale to be $23 since I previously paid AMT on them?