I have a client that had suffered a theft(scam) loss in 2006. I have to file his 2007 tax
return now and the carryover loss is $ 240 K.
When I input this loss, he still winds up with a negative taxable income,but a
AMT tax is created.Somehow this doesn't feel right.Any help?
Ed
return now and the carryover loss is $ 240 K.
When I input this loss, he still winds up with a negative taxable income,but a
AMT tax is created.Somehow this doesn't feel right.Any help?
Ed