Does anyone know why I am being told to upgrade and pay Alternative Minimum Tax? I make $80k per year, claimed a standard deduction, and have no unusual circumstances

Also, I do not own a house or pay a mortgage.

posted

We cannot see your return or account here, as this is a public forum.

The following is a list of some common situations that may trigger AMT.

• High gross income relative to taxable income.

• Exercise of incentive stock options.

• Long-term capital gains.

• Tax-exempt interest from private activity bonds.

Learn more about AMT here.

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Do you have an Intuit account?