AMT S/W Bug in Taxwise Ver. 23.04 and Earlier

For those of you using Taxwise S/W, I have identified a S/W bug on Form 6251 AMT. T/W informs me that Rel. 23.05 will fix it.

If a taxpayer is otherwise subject to AMT, the calculation on Form 6251 will be correct unless Part III of the 6251 needs to be completed because the taxpayer has qualified dividends and LT Capital Gains that get favorable tax rates. If the calculation in Part III results in an AMT that is positive, T/W posts the positive AMT on Line 55 to Line 32 of the 6251. This correct behavior. If the calculation results in an AMT of zero on Line

55, T/W does not post the zero to Line 32. Line 32 will compute the AMT as if all income was ordinary.
Reply to
Alan
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Okay ,I'll bite. What does the S/W relative to TAxwise above mean?

ChEAr$, Harlan

Reply to
Harlan Lunsford

S/W = SoftWare

Reply to
JoeTaxpayer

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