form 8801

Forum|Forum|6 years ago
June 30, 2020
1 reply
21 views

Does anyone know how to get lacerte to calculate form 8801 automatically when you have an AMT tax paid on a deferral item like an ISO exercise and the AMT tax paid to be rolled forward as a credit or is this something we have to do manually?

Lacerte Tax

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George4Tacks

Level 15

Did you sell some of this ISO? Did you enter the AMT basis when you input the sales price?

Answers are easy. Questions are hard!

G

gn86_2Author

Level 4

yes I'm actually going back a few years and amending the year of exercise they never booked the bargain element as an AMT addback as well as a few other non AMT related items. So I booked it, they are now paying AMT that year on it and I need to roll over the credit to future years to see if I can use it to lower taxes by amending the 2 years in between then and now. The shares are still held and after this amended return the AMT cost basis of the shares will be correct.

George4Tacks

Level 15

Are you using Lacerte for all these returns?

Answers are easy. Questions are hard!

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