Can I check AMT carryover amount from 10 yrs ago? It is sizable and believe to be an error. In 2018 getting sizable AMT credit and concerned it is inaccurate.

[bal4833]

This is precious.  So as a result of reading all 7 pages of this thread I got an "atta boy" from TT:

Your earned the Read 250 Posts badge.

Congrats bal4833   Your new badge is Read 250 Posts.

[dbadolato]

That's great - maybe you can apply it to your penalties!  JK - i did go through the audit process and the IRS did forgive me the penalities associate to the TT error, so at least that is good.

[bal4833]

I filed amended returns for 2019-2021 in December 2022.  The only correspondence from the IRS so far was that I did not sign the 2021 amended return correctly as the "surviving spouse".  My bride of 38 years passed in May 2021.  Waiting for same letters for 2020 and 2019along with those interest and penalty letters.

Now I am working on what I perceive as another TurboTax error related to remote work between states.  My confidence in this software is diminishing the more I use it.

Oh, and when TurboTax tells you it is uploading the latest revisions, don't believe it.  I uploaded "latest revisions for 2019 and 2020 as I filed the amended returns to deal with this TT error.  In July 2021 IRS updated 1040X for amended returns.  IRS instructions say to us the 2021 version of 1040X for 2019 and later.  That is not what TT produced.  I ended up printing paper copies of the 2021 1040X and filling them in by hand.

What a JOKE!  NY Time said still based software.  I fear for the country.

[NNGAL]

Please let me know what you did. I have the same issue. Turbo tax carryover of AMT on multiple years was found in 2021 audit. So upset that I relied on turbo tax.

[bal4833]

I filed Amended returns 2019, 2020 and 2021 in Dec. 2022.  That is what I think the IRS can look back on (for errors?) unless they believe fraud involved, in which case than can go back farther.   I did not wait for an audit.  Chose to be proactive.  I might have actually returned more to the IRS than it was entitled.  Total for three years was  a little over $20k plus the interest.  I wrote with the amended return that "I determined that I was not entitled to the AMT credit for the year that this amended return applies to."  I received fairly quick responses for the amended 2019 and 2020 returns with interest due notice.  No Penalties.  I received a response in March 2023 to my 2021 amended return with "no action needed at this time".  In Feb. 2024 I received an "we have been attempting to contact you about the interest due" letter.  I paid the amount requested and disputed their claim of trying to contact me.  Sent along a copy of the letter from March 2023 that said I had to take no action.  I received a letter acknowledging the recent payment in March 2024.  Hopefully I am all done with AMT.

I do believe TT made the error even though they won't admit it.  My non-professional advice would be to calculate what you owe when removing the AMT credit and pay that amount and request the interest amount that you owe.

[NNGAL]

Ok so you recommend going ahead and amending FY 2022 and FY 2023 returns removing the AMT carryover, since my audit was on FY 2021? I am no tax expert and thought I could rely on turbo tax. The Turbo Tax Defense is with Tax Audit and they wanted $995 to evaluate but I can see where the software made the error so why give them more money. I appreciate your response.

[NNGAL]

I also have this problem. What should I do. My audit is for 2021 and I see where the turbo tax software has a carryover but no AMT? Any help is appreciated.

[NNGAL]

Did you file lawsuit? I need to be included because my 2009 software caused AMT errors also. 

[bal4833]

Assuming the TT error on your audited 2021 return continued to carry forward into your 2022 and 2023 returns, then yes, I recommend (I too am not a professional tax preparer, so keep that in mind) you self report the problems for those two recent years.  That should help you get out of any penalties the IRS may want to impose.  TT screwed up my Iowa non-resident returns for 2010 and 2011.  TT said I owed nothing to Iowa even though I had been paying since 2001.  My initial thoughts were "maybe Iowa changed something".  I chose not to look to deep.  Iowa did.  Probably 2013 they sent me a letter about 2010 saying I did owe.  I found the error for the 2010 return and self reported the 2011 error before I filed my 2012 Iowa return in 2013. 

I see no value in TT defense because it is their error and the only expense they would pay for is the penalty.  TT will not pay the tax or interest.

[bal4833]

Go to the previous page in this string to read about lawsuit.  Chances are zero.  You have to get through Arbitration first.

[NNGAL]

Please let us know the outcome when you receive a response from the IRS. I went ahead and paid the IRS for the audit of my FY 2021 return with interest and requested they waive the penalty as I relied on Turbo Tax for accuracy. I have not gotten a response. Now I am looking to see if I need to amend other years. I am not a tax expert, hence why I thought I was purchasing Turbo Tax. So disheartening to find out Turbo Tax knows it has AMT carry over errors and does not stand up for its customers.

[Mike9241]

@ The IRS must keep copies of some returns going back years. Turbotax, according to some threads, made an error more than 6 years ago in commuting the AMT carryover, when taxpayers tried to claim the faulty carryover in later yers it was rejected by the IRS. Thus somehow it had to know that the CF was wrong from more than 6 years ago. How can it do that unless it had records. 

[NNGAL]

Did they waive the fee also or just the penalty? I contacted Turbo Tax Defense and they told me they would look into it for $700 and get back with me next week. I sent all the data in addition to my requested waiver of penalty and then this week I received an email asking for $995 and it stated they would only evaluate the year under audit. I have already requested IRS to forgive the penalty since I relied on the accuracy guarantee from TT. So not sure if it is worth another $995? Did you get audited on the next year also?

[NNGAL]

Did you get audited on other years after paying?

[NNGAL]

So how did this turn out? I went ahead and paid the amount requested on the audit letter for FY 2021 other than penalty. Waiting to see what happens next.