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Level 1
posted Mar 4, 2022 8:14:03 AM

ISO Exercise & Hold and AMT

I exercised and held ISOs in 2021.  I entered the details in the Wages & Income section and it calculated an AMT adjustment of $10K.  Then when I go through the Other Tax Situations it asks 'Do I have any of these uncommon situations?' and 'I exercised ISOs in 2021, but didn't sell the stock in 2021. Or I sold ISOs in 2021 that I purchased in a previous year' is the first checkbox.  If I check this box and enter the $10K in the ISO adjustment box, it appears to double my AMT adjustment to $20K.  It seems like this is duplicating the amount and significantly increasing my tax due.  Can you please advise?

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1 Replies
Expert Alumni
Mar 4, 2022 10:35:19 AM

Sorry! Please see my other response. You do not need to go into the 6251. It is correctly filled out for you from your 3921 entries.

 

Edited 3/4/2022 (12:21 pm PST)