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M
MarinaEA
Level 5
October 13, 2022

Do AMT Items "Post-1986 Depreciation Adjustment" impact shareholder's basis?

  • October 13, 2022
  • 1 reply
  • 13 views

The S Corp shareholder's K-1 line 15 "Alternative minimum tax items" code A "Post 1986 depreciation adjustment" has a number. Could anyone explain what that is, and does it impact shareholder's basis?

I want to say no, it does not, but I am questioning myself.

Thank you!

This topic has been closed for replies.

1 reply

sjrcpa
sjrcpa
Level 15
October 14, 2022

It impacts their AMT basis.

It is the difference between depreciation computed for regular tax and for AMT.

The more I know the more I don’t know.
    M
    MarinaEAAuthor
    Level 5
    October 14, 2022

    Thank you, so do I need to consider this ( deduct or add) when calculating shareholders stock or debt basis? Seems not? For example, sec 179 would reduce shareholders stock basis. Not quite sure how ATM basis would impact their stock or debt basis or it would not? 

    sjrcpa
    sjrcpa
    Level 15
    October 14, 2022

    There are 2 basis computations. One for Regular Tax and one for Alternative Minimum Tax (AMT).

    This item impacts the AMT stock basis only.

    The more I know the more I don’t know.
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