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TT 2018 noticed that I paid 2017 AMT and is asking me if I want to recalculate 2017 using TT or by hand. TT 2017 called for the AMT. Is there a point to recalc?

Forum|Forum|7 years ago
June 1, 2019
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To expand, I am getting the following question, edited for brevity:

We show that you paid AMT in 2017. Choose from the following options:

Do not recalculate 2017 return (quick and easy but may add more tax than necessary)

Recalculate 2017 myself using TT 2017 or by hand (may take a long time and require lots of calculations but may save money)

Since I used TurboTax 2017 for that tax year and it was TT 2017 that originally specified the AMT, is there actually a chance that recalculating AMT will save money or is this a generic thing and there is no point for me to do that?

TurboTax Deluxe Windows

Best answer by racketteer

I continued down the path of using TT 2017 to recalculate the 2017 tax. I saw that what I was doing was calculating something not for amending 2017 taxes but to feed into the 2018 tax return I was working on, the "Tax Benefit Amount." So the answer is that there is a point - it really is working on the 2018. After going through the analysis it may turn out that there is very little difference, but it is in service of the 2018 return.

R

racketteerAuthorAnswer

I continued down the path of using TT 2017 to recalculate the 2017 tax. I saw that what I was doing was calculating something not for amending 2017 taxes but to feed into the 2018 tax return I was working on, the "Tax Benefit Amount." So the answer is that there is a point - it really is working on the 2018. After going through the analysis it may turn out that there is very little difference, but it is in service of the 2018 return.