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Why is my mortgage interest amount I entered in the deduction field showing up in the Alternative Minimum Tax under "CCA and carry charges...etc"

You are welcome.

I'm trying to remember what I did in 2019.

If I remember correctly, I had capital gains but offset them with capital losses from other years. That was probably why, the AMT option was triggered.

In the end, I did fill in the AMT.

I hope that helps.

gaoanqi
Returning Member

Why is my mortgage interest amount I entered in the deduction field showing up in the Alternative Minimum Tax under "CCA and carry charges...etc"

Thank you for your reply!

 

Another error in Turbotax occurred to me saying 

 

You have reported the sale of your principal residence(s) but have not entered the number of years you designated the property(s) as your principal residence.

 

I rent my property out in 2022, so I was filing for a 'Change in use of the principal property'. 

Just wondering do you by any chance seen this error before? 

 

Thanks very much

 

 

'

Why is my mortgage interest amount I entered in the deduction field showing up in the Alternative Minimum Tax under "CCA and carry charges...etc"

I have not encountered that problem.

 

Did you switch the use of your property from primary residence to rental in 2022?

If so, your house is deemed sold on paper since you have changed the use.