Should I fill out Alternative Minimum Tax form for my rental property income & expenses even when they are not profitable yet?

[jl202304]

Hi. I just bought my first rental property in 2022, so many things confuse me when it comes to Tax Return.

I figured out most of them by Googling, but I am confused if I really have to fill out Alternative Minimum Tax form. 

Note that I didn't claim any CCA amount because I am a low-income person for 2022 Tax return (i.e. not enough income to deduct tax from CCA).

My rental property makes loss due to high interest rate increase last year (no rental income, but loss). Two major expenses I am paying are (1) management fee for collecting rental and dealing with tenant's complains, and (2) mortgage interest payment.

According to Carrying Charges, interest expenses, and other expenses (Line22100) definition, I felt I had to fill out AMT form. When I filled out those two numbers into AMT form, the expected tax refund amount didn't change (i.e. $0). If that's the case, should I really care about and fill out AMT form in this case? or should I fill out no matter how much I earn income?

By-the-book answer will be great. 

Thank you!

[TurboTaxSusan]

You only need to pay the Alternative Minimum Tax (AMT) if the amount that you owe using the AMT calculations is more than the amount you owe by using the regular tax return calculations. The AMT is meant for very high income people to try to get them to pay more tax.