I'm just curious but is my income being no more than $71.7k for the next few years until my NOLs are used up the only way I will avoid AMT and avoid wasting my NOLs?
For example, here are some scenarios I've tried. Seems like AMT is a big penalty for "total income anywhere between -$130k and +$1.07million. I guess the only way to avoid AMT is to make either a modest income or millions?
| | TurboTax parameter analysis | | | | | | | | | | | |
| | | | | K-1 | K-1 | | | | | | | | |
| Variation | NOL 2018 carryover | AMT NOL 2018 carryover | Taxable Roth conversion | Bx1 Ordinary Biz Inc | Bx? Guar Pmt | Total Income | Standard Deduction | Taxable Income | Tentative Tax | AMT | Total Tax | Penalty | Balance Due |
| 1 | ($202,319) | $0 | $71,700 | $0 | $0 | ($130,619) | $12,200 | $0 | $0 | $0 | $0 | $0 | $0 |
| 2 | ($202,319) | ($202,319) | $71,700 | | | ($130,619) | $12,200 | $0 | $0 | $0 | $0 | $0 | $0 |
| 3 | ($202,319) | ($202,319) | $254,000 | | | $51,681 | $12,200 | $39,481 | $4,543 | $0 | $4,543 | $147 | $4,690 |
| 4 | ($202,319) | $0 | $254,000 | $0 | $0 | $51,681 | $12,200 | $39,481 | $4,543 | $42,855 | $47,398 | $1,537 | $48,935 |
| 5 | ($202,319) | $0 | $254,000 | $50,000 | $0 | $101,681 | $12,200 | $89,481 | $15,649 | $45,499 | $61,148 | $1,983 | $63,131 |
| 6 | ($202,319) | $0 | $254,000 | $0 | $50,000 | $101,681 | $12,200 | $89,481 | $15,649 | $45,499 | $61,148 | $1,983 | $63,131 |
| 7 | ($202,319) | ($202,319) | $254,000 | $0 | $50,000 | $101,681 | $12,200 | $89,481 | $15,649 | $0 | $15,649 | $507 | $16,156 |
| 8 | ($202,319) | $0 | $71,700 | $0 | $50,000 | ($80,619) | $12,200 | $0 | $0 | $13,000 | $13,000 | $422 | $13,422 |
| 9 | ($202,319) | $0 | $0 | $71,700 | $0 | ($130,619) | $12,200 | $0 | $0 | $0 | $0 | $0 | $0 |
| 10 | ($202,319) | $0 | $0 | $81,700 | $0 | ($120,619) | $12,200 | $0 | $0 | $2,600 | $2,600 | $84 | $2,684 |
| 11 | ($202,319) | $0 | $0 | $121,700 | $0 | ($80,619) | $12,200 | $0 | $0 | $13,000 | $13,000 | $422 | $13,422 |
| 12 | ($202,319) | $0 | $0 | $271,700 | $0 | $69,381 | $12,200 | $57,181 | $8,437 | $43,667 | $52,104 | $1,690 | $53,794 |
| 13 | ($202,319) | $0 | $0 | $471,700 | $0 | $269,381 | $12,200 | $257,181 | $65,207 | $42,897 | $108,104 | $3,506 | $111,610 |
| 14 | ($202,319) | $0 | $0 | $671,700 | $0 | $469,381 | $12,200 | $457,181 | $135,207 | $40,195 | $175,402 | $5,688 | $181,090 |
| 15 | ($202,319) | $0 | $0 | $871,700 | $0 | $669,381 | $12,200 | $657,181 | $208,144 | $32,036 | $240,180 | $7,788 | $247,968 |
| 16 | ($202,319) | $0 | $0 | $1,071,700 | $0 | $869,381 | $12,200 | $857,181 | $282,144 | $14,036 | $296,180 | $9,604 | $305,784 |
| 17 | ($202,319) | $0 | $0 | $1,271,700 | $0 | $1,069,381 | $12,200 | $1,057,181 | $356,144 | $0 | $356,144 | $11,549 | $367,693 |
