AMT on Asset Entry Worksheet

[Greta]

Please excuse my ignorance, but almost none of my clients (since the AMT reform in 2017) is now subject to the AMT: I don't know how to calculate the AMT prior depreciation on the Asset Entry Worksheet. Now a client has sold rental property and seems subject to the AMT. How is it calculated?

[sjrcpa · Accepted solution]

For the real estate itself, AMT Depreciation = Regular Depreciation.

Check the 6251 instructions. I think they explain how to calculate AMT depreciation which you may need for 5, 7, 15 yr, etc. property.

[Greta]

Thank you! Yes, it's real estate. I've always put the same as regular depreciation because the clients were not high income ones anyway, but it seems it was correct 🙂

[dkh]

Greta - if you use this Quickzoom in the Asset Entry Worksheet it will give you the detail of AMT depreciation