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wcasulo
New Member

Need to edit credit for AMT paid in prior year (2021) to zero. Turbo Tax will not allow editing of this number.

 
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1 Reply
DianeW777
Expert Alumni

Need to edit credit for AMT paid in prior year (2021) to zero. Turbo Tax will not allow editing of this number.

Although it’s not common, you might be eligible for the AMT credit on this year’s taxes if you got hit with the AMT in a prior tax year because you exercised ISOs or claimed accelerated depreciation.

 

You can’t claim this credit for any other AMT-generating situations such as high income, lots of dependents, or a large SALT deduction, nor can you claim this credit if you’re subject to the AMT on this year’s taxes.

 

When you get to the screen that asks if you paid AMT in the past and had timing items, answer Yes and follow our onscreen instructions to calculate this credit.

  1. Sign into your TurboTax return
  2. Select Deductions & Credits > Estimates and Other Taxes Paid > Credit for AMT Paid in Prior Year > Start or Revisit
  3. Answer 'Yes' and proceed to the next screen to enter zero

Please update if you need further assistance.

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