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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.
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.
To revisit that section:
Thanks for your answer, but I can't reach step 4, "Scroll down to Estimates and Other Taxes Paid". My screen doesn't give this option. It says "Your Tax Breaks" at the top and "Credit for AMT Paid in Prior Year" as my only choice for AMT. There is no Edit button, just a Review button next to Needs Review.
When I click Review it says "Your $XXX credit just saved you money on your taxes this year." For next year, you have a $XXX carryover." There's only a "Done" button after that. When I click Done it brings me right back to the above page with the same Needs Review/Review button. The button does not change to "Edit" so I can't change anything.
What do I do?
Please log completely out of TurboTax, then try clearing out your browser's cache stored on your computer. A full or corrupted cache can keep TurboTax from functioning properly. Please see the TurboTax FAQ's on how to clear your cache here. To learn how to delete your cookies, please see the TurboTax FAQ here.
You may also want to change browsers, for example, if you are using Chrome, try switching to Firefox or Microsoft Edge.
Hello
I tried everything suggested, logged out, cleared my cache, used a different browser, no luck. I'm stuck.
Can I get technical support somewhere? I don't know what to do next.
Were you ever able to figure this out? I'm having the same problem.
If you have tried the suggested steps above and are not able to get this to work correctly, it would be best to give us a call here. @freya12345
It seems to be a glitch in the TT software. I called the number as suggested but had to pay to upgrade to talk to someone. I am not happy that "call us" is the best reply they could come up with. It also took some days to get a reply; I see a noticeable decline in forum support this year.
We opened up my in-process tax form (I don't recall which schedule) and the support person found that my AMT was credited there. I don't remember how we undid it, but the button next to that AMT credit now says Start and I'm afraid to touch it. I hope she's right that the credit is being taken. She said she would alert TurboTax of the problem.
Maybe you can ask TT to waive the upgrade since this is their fault. They should at least acknowledge the problem in the forum and post how to get around it.
We would not have any control over the waiving of any fees, as here in this forum we do not have access to the financial side. You would need to speak with them by phone to have anything waived. @Donna3
Thanks for this helpful reply. It's a shame they can't just post the solution here. I'm beyond frustrated. Have used TT for many years, but this may be the last.
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