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May 10, 2021
Question

AMT credit for the next filing year

  • May 10, 2021
  • 1 reply
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I have a sizable AMT liability this year due to exercised but unsold incentive stock options.   I expect/hope to be able to take that AMT amount as a credit next year.   Is there a form or line I need to make sure to complete in order to take advantage of that potential credit for the next filing year?

    1 reply

    May 10, 2021

    No, there isn't a form or line number. When you transfer your 2020 information into your 2021 income tax return, TurboTax will ask you if you paid AMT in tax year 2020 or prior years. 

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