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Simplified Limitation Election for AMT
My salary is below $100k. I have some investments (ISHARES TR CORE MSCI TOTAL) with foreign tax paid of $460. I had submitted form 1116 last year and will be doing so this year as well. Turbo Tax asks me this question below. I checked my previous tax form which shows "AMT Carryover to 2023" as $740. Please advise if I should choose yes or no for this year for the question below. Thank you.
Simplified Limitation
‎February 29, 2024
6:19 PM