This forum might not be the best place to deal with this issue, but perhaps this article will help get you goin.
I hope this is helpful
Kelly C, CPA
Are you referring to AMT limitation or foreign tax limitation please verify where we provide the correct answer.
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Hi, I am referring to the simplified limitation election for AMT Form 1116. I need to complete both Form 1116 and also AMT Form 1116 and I am subject to AMT. In past years Turbotax applied the election and I want to revoke the election so that it will not apply in the future..
I recommend making an appointment with your local IRS office to begin the process of revoking the election to use the simplified section 904 limitation. There are different methods of revocation for various elections and there is no clear guidance from my research in regard to revoking the election to use the simplified section 904 limitation.
Ruth, CPA, Attorney
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