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How do I find out if I owe a ATM

 
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mesquitebean
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

How do I find out if I owe a ATM

Or instead of "ATM" are you referring to AMT (Alternative Minimum Tax?)

If so, the following tax topic has a lot of info about AMT.

 

Alternative Minimum Tax FAQs:

https://turbotax.intuit.com/tax-tips/irs-tax-return/alternative-minimum-tax-common-questions/L50YotK...

 

TurboTax prepares a parallel return in the background to see if you are subject to AMT.  If so, it calculates Form 6251 and then puts the results of any AMT due on Form 1040 Schedule 2, Line 1.

 

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2 Replies

How do I find out if I owe a ATM

What?  What is ATM?   An ATM charge on your bank account?  

mesquitebean
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

How do I find out if I owe a ATM

Or instead of "ATM" are you referring to AMT (Alternative Minimum Tax?)

If so, the following tax topic has a lot of info about AMT.

 

Alternative Minimum Tax FAQs:

https://turbotax.intuit.com/tax-tips/irs-tax-return/alternative-minimum-tax-common-questions/L50YotK...

 

TurboTax prepares a parallel return in the background to see if you are subject to AMT.  If so, it calculates Form 6251 and then puts the results of any AMT due on Form 1040 Schedule 2, Line 1.

 

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