Announcement

Collapse
No announcement yet.

Exempt interest

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Exempt interest

    Client's, MFJ, has 1099 from broker which includes exempt interest & Dividend. It also has dividend & interest for AMT. Where would I report dividend & interest for AMT on 6251? Or ignore it.

    Client does have $658 for AMT tax.

    Is there any way to reduce or eliminate it?

    Thanks!

    #2
    Line 11

    I put it on line 11 of 6251. The funds usually provide percentages that need to be figured in or out of AMT. These usually come with the year end information.

    Also don't forget to put these on as tax exempt income for purposes of taxable SS, and state reporting if not allow by your state.
    JG

    Comment

    Working...
    X