Why is it picking AMT when income is 40K?
which causes
10K tax when total income is 40K?
22,000 1099-G
18,000 1099-DIV
Annual totals 1095-A:
A: 10,573
B: 10,181
C: 8,800
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The 2020 AMT exemption is $72,900 for a single filer and $113,400 for a married couple filing jointly.
Several things could trigger AMT, including:
For additional information, please see the following articles:
[ I am puzzled by your "1095-A" figures. Form 1095-A is the Health Insurance Marketplace Statement.]
I don't think I described the problem properly:
The unemployment + dividend income is far below AMT.
Why is turbotax picking AMT given that the income is so low?
("1095-A" figure is there to show all inputs to turbotax.)
Since your income is below the AMT exclusion and you don't have any of the situations I mentioned in my previous reply, the AMT should not be activated. I suggest you use the Clear & Start Over function and reenter your information.
If you have not paid for the online edition you are using, have not filed your tax return, or registered the Free edition, then follow these steps to clear your return and start over:
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