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Investors & landlords
I used TaxAct in previous years so TurboTax cannot import anything.
However just entering zeroes for Alt Min Tax/QBI will make me forfeit all associated losses going forward and those losses are significant amount. Plus, I have no reason to believe that Alt Min Tax losses are less than regular tax losses.
If anything, they should be more because the losses happened a while ago and I did not have AMT every year since that time so less amount of carryover should be used up. That's why what I am actually interested in is to find out exactly what Alt Min Tax/QBI carryover amounts are. At the very minimum I want to estimate what those amounts should be approximately. If I need to do it manually I can but I have no idea how.
‎April 5, 2022
10:13 AM