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allan0197
March 31, 2025
Question

I sold my primary home and have $950K in capital gains. I know I owe taxes on this, but TT is indicating I am subject to $4,529 of AMT due to this income. is this right

  • March 31, 2025
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    1 reply

    M
    MinhT1
    March 31, 2025

    Yes, most probably as your income has reached a certain level.

     

    You are subject to the AMT when the tax calculated on form 6251 without taking into into account certain items that are not normally taxed and disallowing many deductions under the regular tax system, is higher than that calculated on your regular tax return.

     

    Please read this TurboTax article for more information.

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