I exercised some ISOs a few years ago and I didn't need to pay AMT. Do I still adjust the sale of those ISOs for AMT?

[yokuyuki]

A few years ago, I exercised some ISOs, but because the bargain element was so low, I didn't having to file a Form 6251 because I didn't owe any AMT tax. This year, however, I do owe AMT from exercising more, but at the same time, I sold what I had before and I wasn't sure if I could use the sale of those ISOs even though I never paid AMT tax on them to reduce my AMT income.

[yokuyuki]

So whether I can negatively adjust for the disposition of ISOs (line 18 of Form 6251) to reduce my AMT income depends on whether I had to pay AMT in the year of exercise?

[CarolC]

No.  Because you did not pay AMT when you exercised your ISOs in previous tax years there is not an AMT credit (adjustment) due to you.  See the TurboTax FAQ below for additional information.

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