83(b) election - regular and AMT tax

[Jim9]

RE:  ISO's: client has 2,066 shares of employer company stock, that he exercised and HELD, reported on Form 3921.   FMV was $122K, he paid $42K, remaining $82K is supposed to be ordinary income per the 83(b) election filed with the IRS.   The employing company did not put the $82K in box 1 of his W-2 as they should have.   I am reading it should go on Schedule 1 as other income, subject to regular tax rates just like if it had been on the W-2.   However, since he didn't sell and it's reported on Form 3921, I'm entering the 3921 information in the Exercise SO worksheet in ProSeries and it's computing alternative minimum tax on the income.   I am not sure if there should be alt min tax in addition to the regular tax.   Also, while I don't think this has anything to do with the above, there is a second lot of stock (ISO's on form 3921, which he also exercised and sold, which is going on Form 6251 and triggering more AMT.   I'm not sure if this is even enough information for someone to possibly tell me if there should be both regular and AMT tax kicking in on this return.   Single filer, no dependents and AGI was $158K prior to entering the $82K 83(b) income as other income.