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Level 1
posted Jun 1, 2019 11:32:01 AM

For capital loss carryover, what is the correct income amount to put in on the AMT screen when AMT wasn't used in the previous year?

I have a capital loss carry over from 2017. After entering the carry over amount, TT auto populated the AMT income field based on nothing I could see. The help suggests if you didn't have AMT then you could use 1040 line 43... that value is not the same as the amount TT auto populated for AMT. 

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1 Best answer
Level 2
Jun 1, 2019 11:32:02 AM

Typically, if you don't usually have to pay AMT, your capital loss carryover would be the same amount as your regular capital loss carryover. The two carryover amounts should be the same.

1 Replies
Level 2
Jun 1, 2019 11:32:02 AM

Typically, if you don't usually have to pay AMT, your capital loss carryover would be the same amount as your regular capital loss carryover. The two carryover amounts should be the same.