Deductions & credits

based on the TT message you did not elect the simplified method for 2022. This locks you in to not using the SM method for all future years unless you obtain IRS approval to change unless that was in error and you did not enter AMT adjustments for the AMT FTC calculation and 2022 was the first year you were require to file form 1116 for AMT purposes.

if you can elect the SM for 2023 be warned 1) this locks in that method for all future year 2)  loss of any FTC carryover  -  these affect the calculation of your AMT liability only. 

 

 

 

under the complex method form 1116 is completed for the FTC to be used for AMT tax purposes.