Why am I getting hit with the AMT (Alternative Minimum Tax)?Although the Tax Cuts and Jobs Act (TCJA) that was signed into law in December of 2017 substantially reduced the number of 2018 taxpayers subjected to the AMT, it didn’t completely eliminate it.Common reasons for getting hit with the AMT include:Exercising or selling ISOs (incentive stock options)Deducting interest from a large second mortgageClaiming business depreciationIf you are subject to the AMT, you don't have to pay it separately; we've already accounted for it in your refund or taxes owed amount.Related Information:What is the Alternative Minimum Tax (AMT) in 2019?How much is the AMT exemption?

Question

Hello! Can you tell me what an AMT is? I've never seen it before, but it came up while filing my return.

Forum|Forum|6 years ago
January 18, 2020
1 reply
0 views

No text available

TurboTax Live Deluxe Online

Critter

Employee

Why am I getting hit with the AMT (Alternative Minimum Tax)?

Although the Tax Cuts and Jobs Act (TCJA) that was signed into law in December of 2017 substantially reduced the number of 2018 taxpayers subjected to the AMT, it didn’t completely eliminate it.

Common reasons for getting hit with the AMT include: