Form 8801 - credit for prior year minimum tax

[JQ21]

I paid AMT tax in 2021 because of ISO exercise. But IRS adjusted the AMT tax to be lower than what was on my Form 6251 when I filed. Now for the 2022 tax, TurboTax just imported the amount on Form 6251 to calculate credit for prior year minimum tax. I assume I will need to change it to the amount IRS calculated. Is there a way to do that in TurboTax? Thanks.

[DavidD66]

Yes, you can change the amount that TurboTax transferred from you 2021 tax return.  To do so, Click on Deductions & Credits, scroll down to the Estimates and Other Taxes Paid section (not Estimated Tax Payments) , and click the Start button to the right of Credit for AMT Paid in Prior Year.  The program will guide you through entering your AMT information.  If for some reason you are unable to change the amount calculated by TurboTax in the Online version, you may want to switch to the CD/Download version.  The CD/Download version has a Forms view that allows you to make changes directly on Forms, Schedules, and worksheets.  You can transfer your Online return into to the CD/Download version, so you won't lose any of the work you've already done.  For more information, see:  

How do I switch from TurboTax Online to TurboTax CD/Download? 

[JQ21]

Thanks!

Tried again, there is no option for me to change using the online version.  The "Credit for AMT Paid in Prior Year" option gets me to the same page as selecting form "8801" in the Tools section, with information about how much credit is applied this year and how much will be carried over to next year. I guess the desktop version will be my last resort. The problem is that I have already paid the online version and will have to continue using the desktop version in future years to allow correct carryover. Sigh.

[ChondelLO]

Please visit the article below to help get you connected to the right person for assistance. You can request credit for TurboTax Online since you are needing to switch to TurboTax Desktop.

How do I contact TurboTax? - Intuit

[JQ21]

I really appreciate the help from this community, thank you all for the suggestions. I will call TurboTax before moving to a desktop version.

[JQ21]

Just a followup of this topic, I finally got around to call TurboTax. The rep was very nice and tried to help. But after about 40 minutes on the phone, it is apparent that the online version won't work. Since I have already paid for the online version, the rep gave me a free desktop version (with a $25 fee for state e-filing though). The desktop version worked and I finally filed my return. Thank you all for the help.