Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

AMT and suspended losses

Karen-Collopy
Level 2

Client sold a rental property with about $64k of suspended losses. That amount is flowing to the 6251 line 2m "passive activities (difference between AMT and regular tax income or loss)" even though there is no difference in the loss or the depreciation between regular and AMT. It's adding about $8k of AMT to the return. Is this proper?

 

Thanks for any guidance,

Karen Collopy, EA

0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

3 Comments 3
sjrcpa
Level 15

No. If the AMT suspended losses = the Regular Tax suspended losses there should be no difference.

Check what is in the software for AMT suspended passive losses.


Ex-AllStar
Karen-Collopy
Level 2

Thanks, I found the error the Schedule E worksheet, where the suspended loss was not indicated in the AMT column.

Karen

sjrcpa
Level 15

You're welcome


Ex-AllStar
0 Cheers