I was at my sister in law's house last weekend and she was doing her income tax using TaxCut. She said that TaxCut made a big mistake figuring out her income tax. She is an accountant and very familiar with both personal and business taxes. She said that TaxCut mistakenly gave her a large refund when she actually has to pay AMT. Anyone encountering this problem with TaxCut? We've been using TaxCut for the past 4 years and haven't bought this year's version yet.
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Your description of the "problem" is so general as to be useless. What specifically did Tax Cut treat improperly on your sister's return?
Apparently Tax Cut credited her with a refund, instead of correctly showing that she owes AMT.
I didn't get more details than that.
to see tax prep software having issues with AMT is no surprise here ___________________________________
-----> real address on hobokeni or hobokenx
I've used TaxCut for several years although not yet for
2006. It's VERY dependent on your answers in the interview. It gives you guidance and will say you "most likely" do or do not need to compute the AMT but if there is ANY possibility you're subject to AMT you need to go through the AMT section and interview in detail.Have something to add? Share your thoughts — no account required.
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