Deleting incorrect Information

Forum|Forum|4 years ago
March 19, 2022
1 reply
3 views

Form 8801,Prior year Alternate minimum tax credits

Turbotax has generated prior year AMT credits that I do not have. It caused a tax audit for my 2019 return. Audit Defense told me that the IRS was correct and I owed the tax as well as penalty and interest. I have not heard from the IRS but Turbotax also generated credits that reduced my taxes for 2020. I expect an audit for that year also.

How do I turn off these incorrect credits for my 2021 taxes?

I just want to delete the incorrect information from 2020 the carryover credits. How do I do that?

Technical Help

Critter-3

Level 15

Duplicate post.

ColdguyAuthor

Level 2

Sorry about the duplicate post.

I figured it out myself. I went to the 8801 and expanded the last year credit line (2021) and deleted the previous amount. Everything was recalculated and took care of the issue. I tried to put zero directly into the 8801 form and it did not work. I did not know that you could expand the information history which is apparently what I did. I was working directly in the forms rather than the easy step.

ColdguyAuthor

Level 2

I am not happy about Turbotax generating fake credits which I had no idea they were wrong. Somehow I will have to deal with the 2020 return.

I will have to have a discussion with Turbotax about compensation relative to their program generating false refunds that cause me to deal with the IRS.

I was happy that I had the Audit Defense even though there was nothing they could do.