AMT Prior Year Credit Split 50/50 in Divorce Agreement

[hellercane70]

I have a substantial value of AMT credit carry over that we agreed to share in our mediated divorce which is finalized.  How do I inform the IRS that my share of the credit is 50% and my former spouse gets 50% also.  I will be using TurboTax Deluxe (DIY) and changed my 2022 filing status to Head of Household from Married Joint filing. It seems to me that this could trigger questions to solve this situation...  Please guide me.

[Critter-3]

DO NOT  use the same TT account you used when you were married.  You MUST start a new account and enter everything from scratch  because you will not be able to remove all of the spouse's information or override joint  information that got carried forward without voiding the accuracy guarantee and keeping you from efiling. 

[hellercane70]

I do not use the online TurboTax tool. Never have...I pull down the Windows application.  Does this "new account" requirement still apply?   LMK please....

[DoninGA]

That "new account" only applies to the online editions.

If you are no longer married then when using the desktop editions, when you start a New Tax Return do not transfer the prior year tax data that has your ex-spouse included.  Start a new return without transferring.

[hellercane70]

@DoninGA @Critter-3  - Any advice on my original ask?  I can see that this will "uncouple" my Turbotax data.  What about the AMT Credit Carryover?  Do I just hand enter the 50% adjusted amount when asked during the clean return entry?  Will this be okay with the IRS?    Is there some other form? 

Thanks for the clarifications...  

[Critter-3 · Accepted solution]

On the return you will only enter your portion of the carryover as the divorce decree states. This is nothing the IRS will question. 

[JQ21]

@Critter-3 I have a slight different but related issue. I need to change the amount of carryover from what is imported from my 2021 6251 form because IRS adjusted it. I use online Turbotax, and could not find any place to do that. Any advice will be greatly appreciated. Thanks.

[Critter-3]

You really need to search for the form 8801 ... easy way is to use the tax tools search to take you there directly ...

PS ... if you have not wandered around in this section please do so ... there are lots of "goodies" to explore.

[JQ21]

Thanks! I tried, but I don't get to that page. My guess is that the line 11 amount on my 2021 form 6251 has been imported, so the TurboTax does not ask me for that.  It goes directly to a page telling me the amount of the credit will be applied this year and the amount will be carried over to next year with a "Done" button at the bottom. There is nothing actionable. Wondering if there is way to delete the amount or force TurboTax to the question page.

[Critter-3]

And this is why you should always start with a new account when you divorce and not to try to transfer in the prior year joint information as making all the changes may not be easy. 

If support cannot help you then I suggest you switch to the downloaded program ( you only need deluxe if you need a state and the basic if you don't)  so you can do the override in the FORMS mode.

https://ttlc.intuit.com/community/choosing-a-product/help/how-do-i-switch-from-turbotax-online-to-th...