Has anyone used TurboTax for this situation? I'm having the exact same problem but TurboTax doesn't seem to have anywhere to enter the different mortgages for different parts of the year...

I went through this exact scenario two years ago and found that the key is understanding that Pub 936's "average balance" calculation needs to be done month-by-month, not as simple annual averages. Here's what I learned from my CPA: For January-March, only your condo mortgage counts ($170k declining to ~$168k). For April-July, BOTH mortgages count toward your qualified loan limit since you owned both properties simultaneously. For August-December, only your house mortgage counts. The tricky part with MFS is that $550k limit. During your overlap months (April-July), your combined mortgage balances were probably around $1.55M, which far exceeds your limit. This means for those months, you can only deduct interest proportional to $550k/$1.55M ≈ 35.5% of the interest paid. My suggestion: Calculate your monthly qualified loan balances first, then determine what percentage of your total $42,300 in interest ($2,800 + $39,500) is actually deductible. You'll likely end up deducting around $18k-20k rather than the full amount. I'd also recommend attaching a clear explanation of your calculation to avoid any IRS questions later. This is a legitimate but complex situation that benefits from documentation.

This is such a timely question! I just went through this exact situation during my 2024 tax prep. Like many others have mentioned, charitable donations are NOT added back for AMT - which was a huge relief when I discovered this. What really helped me understand the mechanics was creating a simple spreadsheet to track my regular tax vs AMT calculations side by side. I could see exactly how my $15,000 in cash donations and $8,000 in appreciated stock donations affected both calculations. The stock donation strategy mentioned by others is spot-on. I donated some Tesla shares that had appreciated significantly, and not only did I get the full market value deduction, but I also avoided about $2,400 in capital gains tax that would have applied under both regular and AMT systems. One thing I learned the hard way: if you're planning multiple donation types in the same year, consider the timing carefully. I made a large cash donation in January and then realized later I could have been more strategic about when to donate my appreciated securities to optimize the overall tax impact. For anyone still confused about this, I'd recommend using tax software that shows both calculations clearly, or better yet, run some scenarios with a tax professional. The peace of mind is worth it when you're dealing with AMT complexity!

I've been following this thread and wanted to add my perspective as someone who's navigated AMT with charitable donations for several years now. The consensus here is absolutely correct - charitable donations are NOT added back for AMT, which makes them one of the few deductions that work the same way under both tax systems. This is actually a huge advantage when you're in AMT territory. One practical tip I'd add: if you're regularly hitting AMT, consider setting up a systematic approach to your charitable giving. I use what I call the "AMT donation ladder" - I front-load appreciated securities donations early in the year when I can better predict my income, then use cash donations later for any additional giving. The reason this works well is that appreciated securities give you the double benefit (avoiding capital gains + full FMV deduction) regardless of whether you're in AMT, while cash donations are more flexible for year-end adjustments based on your final tax picture. Also, don't forget about the CARES Act provision that allows up to $300 ($600 for joint filers) in cash charitable deductions even if you take the standard deduction. This applies to both regular tax and AMT calculations. For anyone still feeling overwhelmed by AMT calculations, remember that charitable giving is one area where you can actually plan with confidence - the tax treatment is straightforward compared to other deductions that get complicated under AMT rules.

Can anyone explain like I'm 5 what these different 1095 forms mean? I have the same situation where I'm on my parent's plan but turning 26 soon and I'm scared of getting hit with surprise tax bills.

This is exactly why I always recommend getting a copy of your tax return before signing it and asking questions about anything you don't understand. A $10k surprise tax bill should never happen without clear documentation. Your situation sounds like a classic case of form confusion. Since you were on your parents' employer plan, you should have received a 1095-B (or possibly 1095-C if it's a large employer). These forms just prove you had qualifying health coverage - they don't involve any tax credits or payments that need to be reconciled. The Premium Tax Credit only applies to people who bought insurance through Healthcare.gov or state marketplaces AND received advance payments to help cover premiums. If you never applied for marketplace coverage, there's no way you could owe money for premium tax credits. I'd suggest: 1) Ask your CPA to show you the exact form and line numbers where this $10k liability is coming from, 2) Verify what health insurance forms (1095-A, B, or C) were used in your tax preparation, and 3) If they can't provide clear documentation, absolutely get a second opinion from another tax professional. Don't sign anything or pay anything until you understand exactly what's happening with documentation to back it up!

Check if you're eligible for the Fresh Start program. Even if they took your refund, you might be able to get your loans out of default and potentially recover some of the offset funds. The program is still available through 2024.

I'm sorry this happened to you! This is really frustrating when you're counting on that money. Just to add to what others have said - when you call the Department of Education, ask specifically about the "injured spouse" provisions if you're married and filed jointly. Sometimes the non-debtor spouse can recover their portion of the refund. Also, keep all documentation about the offset - you'll need it if you decide to pursue any appeals or hardship requests. The whole system is confusing and they don't make it easy to understand your rights.

I feel your pain! I've been battling the IRS phone system for years and it's gotten progressively worse. What finally worked for me was a combination approach: First, I tried calling exactly at 7:00 AM Eastern when they open - set multiple alarms because that first few minutes window is crucial. Second, I learned that if you get the "we're experiencing high call volume" message, don't hang up immediately. Sometimes if you wait through the entire message, it will actually put you in a queue instead of disconnecting you. Third, I started keeping a detailed log of every call attempt with timestamps - this helped me identify patterns in when I was more likely to get through. For property tax deduction questions specifically, you might also want to check if your local IRS Taxpayer Assistance Center offers walk-in appointments. I know it's not ideal, but sometimes face-to-face is the only way to get complex issues resolved. Hang in there - the system is broken but persistence usually pays off eventually!

I've had success using a different approach - calling the IRS Practitioner Priority Service line at 866-860-4259 even though I'm not a tax professional. When they ask for your PTIN, just explain you're a taxpayer with a complex question that the regular lines can't handle. About 60% of the time, they'll transfer you to the appropriate department instead of hanging up. Also, try calling on Wednesdays around 2:30 PM - I've noticed that's when they seem to have more available agents, probably because it's mid-week and most people call on Mondays or Fridays. For property tax deduction questions specifically, make sure you have your Form 1098 handy and know your exact question before calling. The agents can help much faster when you're prepared with specific details rather than general confusion.