Incorrect AMT amount on Schedule 1

Program(s) affected: T1 Document created: 04 20, 2007 Tax year(s): 2006 Document last modified: Version(s): 10.23 Problem status: Fixed in v10.30

I have a case where the amount of alternative minimum tax (AMT) reported on line 417 of schedule 1 is different than the amount from line 107 of form T691. Is this normal?

No, it should be the amount from line 107 of form T691.

This situation occurs when:

AMT applies and;

There is at least one tax shelter in a loss position AND an amount on line 9 of form T691.

Please refer to our FAQ Amount from line 9 of Form T691 (AMT) to find out if line 9 of Form T691 is calculated properly. If an override is required on line 9, the amount reported on line 417 of schedule 1 will be correct.

On the other hand, if the amount of line 9 is correct, use the keyword Override and enter the amount from line 107 of form T691 on line 417 of Schedule 1.