AMT Depr After 5/6/97 must be entered, I entered regular depreciation but it wants this also? Home Office

So I'm working on home office depreciation recapture.....which unfortunately I never took but it's not a huge amount.

 

It's somewhere around 1600 or so and just sold my home. 

 

So I entered it under the sale of a home depreciation after 1997 etc

 

However when I went to do the turbo tax analysis at the end, it now says AMT depreciation must be entered? 

 

The form asks for depreciation then AMT depreciation....I don't remember ever doing anything with AMT depreciation?

 

So confused.  Thanks!

Carl
Level 15

Deductions & credits

Look at your 2018 tax return. You'll need a PDF copy of that return. In there you will find two IRS Form 4562's for the property. Both of them print in landscape format. One is titled "Depreciation and Amortization Report" and the other is titled "Alternative Minimum Tax Depreciation". You need the depreciation amount from the 2nd one. More than likely it's zero. But you need to confirm that beyond any doubt by actually looking at that 2nd form 4562 with your own two eyeballs.

 

Deductions & credits

Thank you!  

Deductions & credits

@opus17

Deductions & credits

@Opus 17 any idea on this one? Thanks again so much! -Dave

Deductions & credits

@Carl   So I know I owe the depreciation recapture for all the years I had a home office, even though I took it only 1 year. 

 

However, when I put in the amount for depreciation  in the first box, the 2nd box still say "MUST fill out this one also" etc.....

 

so do I put in an amount for the first one  and then Zero for the 2nd AMT one? or do I just put in the full amount for both boxes?  both regular depreciation and AMT depreciation ?? Thanks!

 

 

Carl
Level 15

Deductions & credits

What does the 4562 titled "Alternative Minimum Tax Depreciation" show? If it shows a zero or is blank, enter a zero. There has to be a digit in that box, even if that digit is zero. But that digit also has to be correct.

Now I don't recall if this applies to a rental asset, but I do recall on a screen for some type of asset (maybe a SCH C business asset) where there was a "note:" on the screen telling you that if no AMT depreciation was taken, then enter the same figure that you did in the top box. So read the small print on that screen. If present, the small print matters.