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March 31, 2022
Question

Can I claim AMT paid on ISO in 2018 on 2021 tax return

  • March 31, 2022
  • 1 reply
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I exercised ISO in 2018 and paid AMT, now TurboTax is calculating tax using exercise price as cost basis. I read that I can claim credit for AMT paid in 2018 and have form 6251 but TurboTax is asking for 2020 form. Can I somehow use 6251 form from 2018 return to claim credit on 2021 return?

1 reply

March 31, 2022

you need to look at forms 8801 starting with 2018. this is the form used to calculate any AMT carryover,if any, to 2019. then in 2019, any c/o to 2020 is calculated and so forth in 2020 for c/o to 2021