In April 2002, I paid about $10,000 in under-withheld state taxes for 2001. So this year, as I go to deduct this state tax paid, TurboTax is telling me that I am subject to AMT on the deduction.My understanding is that had I paid this tax through withholding throughout the year or even as quaterly tax payments in 2001, I would not be subject to AMT. Is this correct? And if so, why am I subject to AMT for paying the same tax in April 2002?... (...in addition to the underpayment penalty I paid in April 2002).Is TurboTax wrong? Or is the tax law doing it to me again?wevets
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra