Hello all, I'm preparing tax this year with TurboTax Premier and have to pay AMT for my federal tax due to ISO exercise. When I went to the AMT section in State Taxes (CA), there was a question titled "Enter other incentive stock options" — If you excluded any California stock options (CQSO) proceeds from your income, enter the amount for alternative minimum tax purposes.
This field was pre-filled with my ISO exercise information that I previously entered in the federal tax section. However, since I don't have any CQSO proceeds, I put "0" in this field instead. This change of data made me from having a large balance due for CA tax to getting a refund and not subject to CA's AMT anymore.
This made me wonder if I can actually put 0 in this field. Maybe I misinterpret this question? Is it possible for an individual to pay a good amount of federal AMT but not CA's AMT?
Much appreciated!
