Question

I exercised some ISOs in 2022 but held them. My AMT adjustment is 26k, but on Form 6251 (AMT) Line 2i, it's showing double. Why is this?

Forum|Forum|3 years ago
March 11, 2023
1 reply
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TurboTax Deluxe Online

I have checked and this doesn't seem to be a known issue. It is really hard to tell without actually looking at the entire return. Can you send us a diagnostic of your return? When you send this, the diagnostic scrubs all of your personal information and will send us a sanitized file without your personal information. Sending us a diagnostic will help pinpoint if there are any issues with the product or pinpoint an error that you may have made.

If you wish to send this, please go to tax tools>tools>share my file with agent. In the process, the program will give you a token number. If you wish to do this, please reply with a token number in this thread.

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C

cawhiteturboAuthor

Thank you for looking at this. My token number is 1099733.

When I add in my ISO adjustment under "Other Tax Situations>Alternative Minimum Tax," it seems to reflect the correct amount of ISOs with no AMT. Then when I do my tax return check, it prompts me to add in the ISOs reported on form 3921. Once I do that, it now shows double the amount of ISO Exercise and Hold under Income with 2k plus in AMT.

DaveF1006

i reviewed the file and saw that the AMT adjustment doubled on the AMT 6251 worksheet. You do not or should not owe AMT tax because the tax preference item is already added in once and should have not produced an alternative minimum tax.

My suggestion is to go to federal>other tax situations>alternative minimum tax>update. Here delete the entry shown by selecting the trash can icon.

Let me know if this clears the error and allow the return to be filed.

@cawhiteturbo

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