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Level 2
posted Feb 23, 2025 7:58:41 PM

Simplified AMT for Foreign Tax Credit elected previous year or not?

In 2023, I see my return ( prepared by an accountant) had 2 normal 1116 +2 AMT 1116 forms. From what I understands, that means they didn't make the election for simplified AMT. 

Now, I prepared my taxes without making the election. Why don't I have the same number of copies of 1116 forms with half indicating AMT? Is it because 2023 it was a different software package (accountant)?

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1 Replies
Expert Alumni
Feb 24, 2025 8:14:08 AM

It depends.  Most of the information is reported in Form 1116 comp worksheet rather than individual forms.  It's not necessarily because of a different software package but more of a simplified or streamline method of reporting.