I noted about $5k depreciation for roof damage/repair on my primary home sale. Does this also apply to the AMT depreciation? Some references say AMT depreciation doesn't apply to primary home sale.
For the AMT section, I originally answered "no" but in the review Turbotax flagged the AMT depreciation line so I don't know how to answer. It would be helpful if there were more comprehensive explanations to these questions.
Do you have any of these uncommon situations?
Select all that apply to your 2024 taxes.
I exercised ISOs in 2024, but didn't sell the stock in 2024. Or I sold ISOs in 2024 that I purchased in a previous year.
I need to make an AMT adjustment to my investment income or expenses.
I reported disposition of assets or property but didn't record their depreciation history in this return. And the AMT depreciation deductions for those assets are different from regular tax depreciation deductions.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.
I have uncommon adjustments like loss limitations, circulation costs, long-term contracts, mining costs, research/experimentation costs, or installment sales.
I have uncommon adjustments like other related adjustments, alternative tax NOL adjustments, alternative NOL attributable to qualified disaster losses, Post-1986 depreciation partnership interest basis limits, Pre-1987 depreciation partnership interest basis limits, or other adjustments to passive activities.
None of these apply to me in 2024
Can someone please help to clarify?
Thanks!
