957231
Have a non dependent child under 24 (9) and in doing their taxes noticed TT incorrectly calculated taxes via AMT. It incorrectly calculates AMT as not needed when in fact it is. In looking at how it calculated form 6251 it misses that the child is under 24 and calculates line 5 incorrectly. Since he would fit the under 24 exemption exception, it should use the lesser child exemption, instead it simply assumes the adult single exemption of $70,300 instead of the correct $7,600 exemption. This causes AMT calculation to net to 0 which is incorrect.
Am I missing something? otherwise TT needs to correct this to avoid people in this situation under reporting.
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Nope, just checked already up to date.
Program is correct ... tax law changes for AMT : https://www.fool.com/taxes/2018/02/05/how-the-alternative-minimum-tax-is-changing-in-201.aspx
I'm using the current 2018 forms and no it's NOT correct. The link you sent has no applicability to the child under 24 situation I described. Was hoping to avoid calling support but...
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