I cannot find anywhere where it states all capital loss carryover should be omitted from the AMT income calculation. Just special cases like ISO. Reading several cases, it seems if you never had to pay AMT before, Turbotax may not have the carryover losses in that part of the program. But they can be added in either Forms or in the Online version ... the latter is described below.
Using Turbotax online, I don't have access to Forms in progress. After speaking to mulitple experts at TurboTax, one of them finally directed me to
- Other Tax Situations
- Alternative Minimum Tax
- Click Edit
- Under "Do you have any of these uncommon situations?" check the following:
I need to make an AMT adjustment to my investment income or expenses.
I reported AMT depreciation adjustments for assets I sold in 2024, and I need to allocate them as either short-term gains/losses or long-term gains/losses.
- Under "Let's adjust the capital gains and losses you had from selling assets in 2024" you can add your short term and long term carryover losses as negative numbers.
This eliminated the AMT for me.
