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geichelb1
Returning Member

I cannot make entries on Sched D AMT Part II or 8949 for gain or loss adjustment due to AMT having been paid for ISO stock options. Where can I enter that data?

 
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Accepted Solutions
TomYoung
Level 13

I cannot make entries on Sched D AMT Part II or 8949 for gain or loss adjustment due to AMT having been paid for ISO stock options. Where can I enter that data?

Delete your sale and start over.

Use the ISO step by step interview to enter your sale.  TurboTax will ask for Form 3921 information and will calculate your gain on sale correctly for regular tax and will also automatically make the required entries for AMT.

You should not see any "adjustment" for the sale on Form 8949.  For regular taxes your basis is what you paid for the stock. 

Tom Young

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4 Replies
TomYoung
Level 13

I cannot make entries on Sched D AMT Part II or 8949 for gain or loss adjustment due to AMT having been paid for ISO stock options. Where can I enter that data?

Delete your sale and start over.

Use the ISO step by step interview to enter your sale.  TurboTax will ask for Form 3921 information and will calculate your gain on sale correctly for regular tax and will also automatically make the required entries for AMT.

You should not see any "adjustment" for the sale on Form 8949.  For regular taxes your basis is what you paid for the stock. 

Tom Young

geichelb1
Returning Member

I cannot make entries on Sched D AMT Part II or 8949 for gain or loss adjustment due to AMT having been paid for ISO stock options. Where can I enter that data?

Thanks! I delete the entries and try step-by-step again.
austinwe
Returning Member

I cannot make entries on Sched D AMT Part II or 8949 for gain or loss adjustment due to AMT having been paid for ISO stock options. Where can I enter that data?

Hello,

 

Are you able to provide the way to get to the ISO Step by Step process? I have tried to delete the sale and start over but I can't get to the point where TurboTax asks for the ISO information in order to make the reversing entry on Form 6521 for the AMT adjustment recognized in the prior year when I exercised and held the shares

austinwe
Returning Member

I cannot make entries on Sched D AMT Part II or 8949 for gain or loss adjustment due to AMT having been paid for ISO stock options. Where can I enter that data?

@TomYoung - can you help me out with getting to the ISO Step by Step guide? I am having an issue getting there and entering in the adjustment that is needed to make a reversing entry on Form 6251 for ISOs exercised in a different tax year than I sold in (i.e I exercised in 2019 and sold in 2020).

 

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