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I believe there is a bug in TurboTax Premiere 2012 that specifically affects people that were subject to AMT in 2011 and that received in 2012, a refund of 2011 state income tax

As you know, AMT phases out / limits deductions. Therefore that portion of a tax refund that provided no benefit in 2011 is not taxable in 2012

See IRS publication 525 p24

Is my reading correct that the calculated tax, AMT tax and credits should all be taken into account? TT Premier is not including the credits in the calculation

Is my understanding correct?

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If you received no benefit from the state tax deduction because of AMT then it would not be taxable. You are correct there, but I can't decipher exactly what you're saying the bug is.

The bug is that TT includes the Calculated Tax and AMT in its determination, but not the line 54 2011 1040 credits

Just got off chat with TT and they confirmed the bug

Did they imply it's a bug they'll fix?

Bagofchips said:   Did they imply it's a bug they'll fix?


If they have some sort of "if we screw up your tax return we'll give you a free cookie" guarantee, this might be a method to obtain a free cookie.

The CPA I chatted with (They had to bump me up from tier 1 support) confirmed what the software should do, but said he never had tested that particular function

He said they needed to duplicate it and then would schedule a fix

Isn't it the place where you are given an option to take the default calcuation or recalculate using the prior year's TT?

seawolf21 said:   Isn't it the place where you are given an option to take the default calculation or recalculate using the prior year's TT?Yes. That's the spot

The instructions on using the prior year TT are correct. The error is in the worksheet in the current year TT



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