Hello,
[Sorry the previous submission was sent prematurely by mistake]
Thank you for your reply that I read in great detail.
I went back to 2019 TurboTax and I tried to follow your suggestions.
I selected "STATE TAXES" then "California" then "Credit and Taxes" and finally under the "Taxes" group I selected "Alternative Minimum Tax"
Once there on the "About California's Alternative Minimum Tax (AMT)" the page it clearly states:
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AMT ensures that everyone pays a minimum amount of taxes every year, and doesn't allow for some common deductions
Select START AMT if you need to make any AMT-related adjustments including
- AMT net operating loss deduction
- Exercise or sale of incentive stock options (ISOs) <<< THIS IS MY CASE
- See Complet list [link]
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Given that my situation is "Sale of incentive stock options (ISOs)" I select the button "Start AMT"
Then I skip the page to enter "AMT Net Operating Loss Deduction" and reach the page with "AMT Adjustments and Preferences"
However in this page there is NO ENTRY to adjust the AMT for the "Sale of incentive stock options (ISOs)"
I need to enter the adjustment for the "AMT vs Regular Tax" due to a "Disposition of property ISO shares (i.e. difference between AMT and regular tax gain or loss)"
Where do I enter this adjustemt?
The only options I have available are for
- Circulation expenditures
- Depletion
- Installment sales
- Intangible drilling costs
- Long-term contracts
- Loss limitations
- Mining costs
- Patron's adjustment
- Pollution control facilities
- Research and experimental
- Tax shelter farm activities
- Related Adjustment
Let me kno win either cases, If you know How to do it or not
Thank you very much.
Fastredcars
