Some of my entries in Taxact form 4562 had the AMT area completed - I am guessing it was my error in not checking the box that says AMT doesn't apply but since I only understand AMT a very little bit I wanted to make sure this wasn't an automatic calculation that is needed. I discovered the issue when I went through review and alerts for completing my taxes so I am guessing it was an error on my end but any info would be great! Thanks!!
TomCopeland 07:48 AM 03-14-2013
Originally Posted by EAP:
Some of my entries in Taxact form 4562 had the AMT area completed - I am guessing it was my error in not checking the box that says AMT doesn't apply but since I only understand AMT a very little bit I wanted to make sure this wasn't an automatic calculation that is needed. I discovered the issue when I went through review and alerts for completing my taxes so I am guessing it was an error on my end but any info would be great! Thanks!!
AMT (Alternative Minimum Tax) affects high income taxpayers. I shouldn't affect you. Taxact should be computing whether it will affect you, and if it does it will tell you.