I have a client that is a full time student and is a dependent on her mother's return. She has about $20,000 in interest income. i have been preparing her tax return for about five years. On this year's return, she was assessed about $900 in AMT. Nothing has changed since last year. Anyone have any ideas of what is going on?
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Not sure about the AMT. But, she may be subject to the Kiddie tax this year. The age requirement has changed and can include grown children now.You have the right to remain silent. Anything you say will be misquoted, then used against you. -
Amt
The AMT exemption is a LOT less for dependents than for someone who can claim their own exemptions, resulting in AMT kicking in at lower amounts. Read through the worksheet line by line to make sure it reflects the child's situation accurately.Comment
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