In the TurboTax instructions for AMTI, "What if I do not have Form 6251 for Alternative Minimum Tax Income for 2020", the guidance reads to following:
If you think your AMTI might be different than your "regular" taxable income (Form 1040, line 10), you'll need to determine what your 2020 Alternative Minimum Taxable Income was and enter it here. If you don't know your AMTI, most people will get the same result using your "regular" taxable income (2020 Form 1040, 10).
My 2020 Form 1040-SR, Line 10, is for "Adjustments to income". Taxable income is listed in Line 15. Is the guidance in TurboTax in error?
Could you possibly clarify a bit?
At what point in your input did you reach the screen you’re talking about? What was your point of entry (there can be numerous) to get there?
What is the screen title?
I haven’t been able to recreate the screen you’re seeing. Could you provide the step-by-step process you took to get to that screen?
You appear to be using TurboTax Online. If that’s incorrect, what version of TurboTax are you using?
Any additional detail would be helpful.
Its STILL wrong in 2023 filing help, the person who reported it seems right. I am using TurboTax Premier.. To find the error its in in the help... [I cut the whole thing and pasted it below] i emphasized the wrong part.
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What if I don't have Form 6251?
Your alternative minimum taxable income (AMTI) may still be different than your "regular" taxable income even if you didn't have to pay AMT. Reasons why your AMTI may be different include:
- You exercised ISOs (incentive stock options);
- You lived in an area with a high state and/or local income tax;
- You supported multiple dependents, especially if you filed jointly;
- You took a home-equity loan for something other than improving your home;
- You took a large miscellaneous deduction like investment expenses and unreimbursed employee business expenses;
- You claimed business depreciation;
- You had a net operating loss for AMT that was different than your "regular" net operating loss.
If you think your AMTI might be different than your "regular" taxable income (Form 1040, line 10), you'll need to determine what your 2022 Alternative Minimum Taxable Income was and enter it here. If you don't know your AMTI, most people will get the same result using your "regular" taxable income (2022 Form 1040, 10).
I was looking for an option for the AMTI for my 2022 returns. I am pretty sure the 1040 Line 10 that is referenced in 2023 Turbo Tax version for the "regular taxable income" is supposed to be 1040 Line 15 in your 2022 tax return. This help reference is the same for the 2020 version and I looked back at my 2020 returns and the "regular taxable income" was on Line 11, not 10.
I also just got to the screen on TurboTax Desktop>Personal>Personal Income then working my way through the screens to the one where it asks me for my AMTI. Since my 2022 tax return doesn't have a form 6251, I am trying to input my income amount from my 1040. Can I get confirmation whether TurboTax is actually asking for my "taxable income" (Form 1040 line 15) or my "adjusted gross income" (Form 1040 line 11)?