TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Community

Question

AMT and Loss Carryover

Forum|Forum|11 months ago
April 7, 2025
1 reply
0 views

I use TurboTax to calculate my 2024 tax. I have $214,000 long term capital gain in 2024. I also have long term capital loss carryover of $204,000 from prior years. I am hit with AMT, and the loss carryover was not applied in calculating AMT tax, nor is it carried forward to next year. Is this correct? Could a TurboTax expert explain the AMT rules regarding loss carryover?

Alternative minimum tax doesn't use the same gain or loss and doesn't allow the same amount of capital loss because of it.

There are a number of fun calculations that go into this and they are not for the faint of heart.

Here is a link to the IRS instructions on this.

Here is a link to the TurboTax article on the AMT.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"