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My client had over 100k in regular k-1 passive activity carryover losses, but didn't anything on his AMT losses, are they the same?

cpa41
Level 2

Do I have to include AMT loss carryover, why is ProConnect automatically generating a form 6251? Thanks.

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sjrcpa
Level 15

No. A fairly safe assumption would be that the AMT carryover is the same as the regular one.


ex-AllStar

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sjrcpa
Level 15

The AMT PAL carryover can be different than the regular PAL carryover. Depreciation and state taxes are the most common differences.


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cpa41
Level 2

But if the previous CPA hasn’t filed anything for AMT does that mean his prior year amt carryover is zero? thanks so much!

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sjrcpa
Level 15

No. A fairly safe assumption would be that the AMT carryover is the same as the regular one.


ex-AllStar

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