RaifH
Expert Alumni

Get your taxes done using TurboTax

You would not adjust the basis on the stock sale, but you can claim credit for the AMT already paid. For more information and an example, see this TurboTax article on ISOs. To claim credit for AMT paid in a prior year, you will need your 2020 tax return, then go to Federal > Deductions & Credits > Estimates and Other Taxes Paid > Credit for AMT Paid in Prior Year.