Why did I get a schedule D for AMT?

[nc001]

I just noticed on my 2022 return that a schedule D for AMT was created (on top of the regular schedule D)? I didn't get that for 2021 or for (still working on them) 2023

Why would that be? I was not hit by AMT

For 2023 I get a 'TY21 -> TY22 conversion AMT capital loss carryover adjustment smart worksheet', what I think it may be related.

[cbm51]

Not sure why 2022 generated the Schedule D AMT and 2021 did not, but I had the same issue.  TT was asking for information from a 2021 Schedule D AMT that was never generated.  After much head scratching, I went back into TurboTax 2021 program (had to shutdown 2023 version - won't run both at the same time) and asked it for the form and it generated it for me.  I was able to pull the info requested and was on my way again.

BTW - the AMT forms/worksheets are generated to determine whether or not you owe AMT (Alternative Minimum Tax).  Most do not owe AMT, but the determination is necessary.

[ThomasM125]

If your capital gains and losses for AMT purposes are different then your capital gains and losses for regular tax purposes, you would need a separate schedule D to report them. If you're not subject to an AMT tax in the current year, then the separate schedule would not affect your tax in the current year, but a net capital loss can be carried over to future years so it may need to be reported on schedule D for regular tax purposes as well as for AMT tax purposes.   

[nc001]

Thanks... that is the workaround for my 2023 return when is asking me about 2021 schedule D for AMT . I see I can create schedule D for AMT  when I go to the 'Forms' view. Schedule D for AMT is the same than regular schedule D.

[nc001]

Why would my capital gains and losses for AMT be different?

I followed 2022 return and the difference comes down to  'Capital Loss Carryover Worksheet' in line '9 Enter the loss from your 2021 Schedule D, line 15, as a positive amount '. There are 2 columns . 'Regular Tax' columns uses line of schedule D of line 15 from 2021.  'Alternative Minimum Tax' uses a different number that I don't know where it's coming from.

I usually file 1116. I think by mistake on 2021 I choose to use the non simplified method to fill 1116 for AMT purposes. On 2022 I went back to the simplified method. I am not sure why this would matter. I was never hit with AMT.

[nc001]

Also for 2023, TurboTax still generates a schedule D and the  'Capital Loss Carryover Worksheet' is corrected for 2023 (using values of 2022) and 2022 (using values of 2022). Is it trying to fix a bug? Still, it doesn't seem quite right to me if I assume that for 2021 schedule D should be the same than schedule D for AMT.

[nc001]

So I guess it's a bug nobody has heard about before.

How do I make my AMT carryovers to become identical to my non-AMT carryovers

[ballrmdancer]

*How do I generate a 2021 Schedule D for AMT form using online TurboTax where there’s no forms option like the desktop version appears to have? I found Schedule D for AMT form for 2022, but not for 2021, and 2022 Schedule D form has different numbers on Line 15 from 2022 Schedule D for AMT; Therefore, I assume that when TurboTax asks me for the numbers from 2021 Schedule D for AMT , I can’t just use the numbers from 2021 Schedule D.  2023 TurboTax is asking me to input the 2021 Schedule D for AMT Line 15 as well as other 2021 numbers in order to bypass errors and proceed with my 2023 Federal Tax Return.  
*Also, where do I get 2021 Form 6251- AMT?

 TurboTax appears to have a glitch, but the deadline is quickly approaching. 

[nc001]

Seems a case similar to mine.

Look at the previous answers. 

You get the scheduleD-AMT for 2021 by going to Turbotax 2021 and on the form view, asking for that form. It was identical to scheduleD-nonAMT.

So line 9 Capital Loss Carryover Worksheet (CLCW) uses the  scheduleD-line15 of previous year, separately for AMT and non-AMT. Probably you got CLCW line 9 for 2022 incorrect, like me  (couldn't find that number anyplace, invented?) from 2021.

In my case, it created a scheduleD-AMT for 2022 because of the different CLWS-AMT. And CLWS-AMT for 2023 became different also, and it created a  scheduleD-AMT.

So that seems a bug, a perhaps it was triggered because of change of not using simplified 1116 method for AMT (this affects only 1116, so it should not be related). Or perhaps the bug was triggered by some other reason.

Turbotax 2023 tried to adjust CLWS-AMT for 2023 and 2022, but the correction was giving different numbers between CLWS-AMT and CLWS-nonAMT. So it was generating still scheduleD-AMT. However, after I did the Turbotax review, it asked me for scheduleD-AMT-line15 for 2021 (the original incorrect value). After I add it, CLWS-AMT and CLWS-nonAMT matched and scheduleD disappeared.

So it would seem Turbotax 2023 was aware of a bug on 2022 and introduced a fix for it. But this fix would need info from 2021.

[nc001]

Also, I didn't get form 6251. This is for AMT calculation, but I was never hit by  AMT. That's why all this AMT form calculations by Turbotax seem a bug.

[ballrmdancer]

Thanks for your response. I can't request certain forms to be produced in Online TurboTax (seems only desktop version has that option).  I was able to download worksheets, but I don't have a "Capital Loss Carryover Worksheet".  I only have a "Capital Loss Carryforward Worksheet".  The only Carryover worksheet I have is the "Federal Carryover Worksheet" which has a "Loss and Expenses Carryover" section numbered 12-17 which don't align with the numbers you and others mentioned.  So, I don't know where to get the 2021 Schedule D AMT Line 15 that is supposed to come from the 2022 Capital Loss Carryover Worksheet which I don't have. Line 15 from my 2022 Schedule D AMT is different from Line 15 from my regular 2022 Schedule D.  But, I don't have a 2021 Schedule D AMT form and can't produce one from Online TurboTax and also don't have a 2022 Capital Loss Carryover Worksheet , so where do I get that Line 15 Schedule D AMT value from then? 

[nc001]

You don't have a 'Capital Loss Carryforward Worksheet' for AMT for 2022? That's weird. Where is scheduleD for AMT line15 coming from?

I didn't know only desktop version allowed you to get extra forms. In any case, for 2021 schedule D for AMT should be identical to  schedule D for non-AMT (if you didn't hit AMT). So you can get your info from there

[ballrmdancer]

I have a "'Capital Loss Carryforward Worksheet' for AMT for 2022", but I do not have a "Capital Loss Carryover Worksheet for AMT for 2022".  I'm being asked to fill in Line 7 & Line 15 from 2021 Schedule D AMT using 2022 Capital Loss Carryover Worksheet and also Form 6251 Line 4 because TurboTax is flagging errors that prevent me from progressing.  I did not hit AMT, so I guess I'll just use Line 15 from regular 2021 Schedule D form.  But, I don't understand why Line 15 from my 2022 Schedule D AMT and regular 2022 Schedule D forms are different.  Thanks for your responses.

[nc001]

So line 14 of your scheduleD are 0? Or they are non-0 and different for scheduleD-AMT and scheduleD-nonAMT?

[ballrmdancer]

My 2022 Schedule D Line 15= -1,657  , but my 2022 Schedule D AMT Line 15= -7,285 (looks like the gain on 2022 Schedule D regular was not added in to the Line 15 sum for the Schedule D AMT version; I don't know if that's an error).  

I don't have a 2021 Schedule D AMT form and couldn't generate one from the online TurboTax, but my 2021 Schedule D regular Line 15= -2,805