I think the AMT calculation is incorrect

[davespam]

I'm stepping through the software and am wondering if anyone has verified the AMT calculation for 2020?  I really believe that the calculation is incorrect. 

 I have a simple return with wages and a lot of long term capital gains and qualified dividends which is why I think I owe the AMT.  The AMT calculation for a married couple making over 197,900 a year should be (total income (line 15)+deductions (line 11) -113,400)*.28-3958.   I ran through form 6251 and came up with that number but Turbo Tax says I don't owe and does not produce the form in the packet.  The number that they calculate is not close to the number I came up with and form 6251 is not in the packet showing me their calculations.  

The rep said "they don't provide the form because you don't owe" but it is impossible to show that the TT calculation is correct because they provide no proof.

I'd like a contact who can get me this info.    

[Mike9241]

did you complete part III of form 6251 which comes into play when you have LTCG and qualified dividends? 

[davespam]

I did.  It is pretty confusing for the calculation I listed in my post but did get that number.  Line 18,31,34 calculate the taxes, line 40 shows the amt.  LTCG's and qualified dividends trigger the AMT because of their low 15-20% rates.

Either way, why is this form not included in downloading all my forms?  Show me the calculation then I can double check vs trying to see if I know how to do taxes to prove the programmers wrong.

[davespam]

Anyone from TurboTax?  I'd like an answer!  Show me the forms and calculation.

[question17]

Did you ever get a response to this? I believe turbotax is miscalculating my AMT as well. It looks like it is deducting non reported gains as disposed property, but I from what I can tell there should be no adjustment.

[davespam]

I didn’t get a response but stepped through the amt form again and the capital gains don’t trigger it. It was really confusing and I wish turbo tax had included the form to show the calculation. The end result is I think they were correct. 

[Critter-3]

Very few people will trigger the AMT these days since the raised the limit and cap gains is not something that triggers the AMT although you think it would. And the form will only be produced if it is needed and used.

If you use the downloaded program you can switch to the FORMS mode and request to review the form even if it is not being filed.