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TurboTax 2024 Desktop Alternative Minimum Tax calc I think is wrong.
I think that AMT is wrong. It seems to be a mix of 2023 and 2024 rules. For example the basic exemption is 40K which is a 2023 value but it uses the fed rate of 20.5% which is the proposed value for 2024. (I am no tax person, but I think that's how I interpreted the 2024 AMT changes) I know there is a message in the software from CRA to use the highest inclusion rate for Cap Gains. Is this a similar situation?
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‎December 20, 2024
12:20 PM