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New Member
posted Feb 28, 2025 8:32:10 AM

How can I convince Turbotax that I am exempt from Alternative minimum tax? My AGI is<48000 and it's almost all investment related. Am I wrong?

I'm trying to deal with foreign tax paid and Turbotax says I have to choose a calculation method to be used with my AMT calculations. I didn't make enough to qualify for ATM (again, am I wrong?).

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1 Replies
Expert Alumni
Feb 28, 2025 3:43:54 PM

Yes, it is asking you to make an election if this is the first year filing for a foreign tax credit. You would select a simplified  election if you only have one category of income to report, such as passive income.