Calculating AMT

Forum|Forum|4 years ago
March 2, 2022
1 reply
13 views

I live in California. I use Turbotax Deluxe CD. QUESTION: Will Turbotax figure out whether I owe AMT or not (Alternative Minimum Tax) ? (I was reading about AMT and it's very confusing). THANKS AND LET ME KNOW!! Blessings to all who can answer this question !

Mike9241

Level 15

some parts will be automatic from other entries. other questions you will have to answer correctly. no different than other items on your return.

Mike9241

mslatinladyAuthor

Level 6

I don't quite understand your answer. Can you please explain it a little more? Thanks and blessings !

ThomasM125

Level 15

There is a section in TurboTax for the Alternative Minimum Tax (AMT). It is in the Other Tax Situations section. You need to go through that section if you are concerned about paying alternative minimum tax, as there may be some entries that you may have to make to insure that it is calculated properly.

You only need to complete the section if you took the standard deduction on your tax return, deducted state taxes or exercised or sold incentive stock options. Otherwise, TurboTax will calculate your AMT based on the entries you have already made in your program.

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