Alternative Minimum Tax Carryover (AMT)

Forum|Forum|1 year ago
February 28, 2025
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I have passive losses on my rental property of -27,324 from 2023. However, I am uncertain what the Alternative Minimum Tax (AMT) carryover means. Switching to the forms view takes me to schedule E line G where it does specify Alternative Minimum Tax -27,324. I'm just not sure what it means.

Thank you.

DianeW777

The alternative minimum tax (AMT) passive loss carryover is usually the same as the regular passive loss carryover. In the rental activity it is usually the same figure because the depreciation used is straight line which is not a factor for AMT. In your case, what it means is that they are the same figure which is not unusual. TurboTax does the calculations based on your overall depreciation in the rental activity.

Occasionally passive activity losses are calculated differently for AMT purposes. If you want to see the actual figure you can check your Schedule E Worksheet in Forms Mode, which you are looking at.

Also, you can generate an AMT version of your 8582 in Forms Mode and note that the form is not filed but is strictly for your records.

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