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Does Turbo Tax allow you to calculate estimated AMT for the upcoming year?

 
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1 Reply
LindaS5247
Employee Tax Expert

Does Turbo Tax allow you to calculate estimated AMT for the upcoming year?

TurboTax will not calculate your alternative minimum tax for the upcoming year.

 

You would need to use Form 6251 to determine this. 

 

In general, form 6251 uses your Adjusted Gross Income After Itemized Deductions from your federal income tax return, form 1040.

 

Most of the itemized deductions that you were able to take under the standard tax calculations are then added back into your income for the Alternative Minimum Tax.

 

If the tax you calculated on Form 6251 is higher than what is calculated on your regular tax return, you would have to pay the difference as AMT, in addition to your regular tax amou

 

It is a complex calculation with many factors.

 

Click here, for a description of how the Alternative Minimum Tax is calculated.

 

Click here for helpful information on the alternative minimum tax.


Click here for additional information on the Alternative Minimum Tax.

 

Click here for Form 6251.

 

Click here for instruction to Form 6251.

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