2006-10-15 12:48:06 · 3 answers · asked by agenov2000 1 in Business & Finance ➔ Taxes ➔ United States
As is the case with most tax questions, the answer is it depends. Since you have given us no information at all, I have no idea if you will get slapped with Alternative Minimum Tax (or AMT). The only thing I can tell you is to go to irs.gov and click on the link for Forms and Publications. You will then see a list of forms and instructions that can be viewed in pdf format. You will want to check out Form 6251 and its instructions. Several items that are normally deductible are disallowed in arriving at AMT (such as state income tax). AMT was initially designed to effect higher income taxpayers but in recent years has begun to effect more and more middle income Americans. AMT is a complicated calculation and I can't give the details of all the possibilities here. Hope that helps.
2006-10-15 13:12:09 · answer #1 · answered by Jeff C 2 · 1⤊ 0⤋
Wow, what a broad question with no details. Heres my broad answer: Maybe.
2006-10-15 14:25:37 · answer #2 · answered by RamsGod 3 · 2⤊ 1⤋
What's that?
2006-10-15 12:55:10 · answer #3 · answered by Anonymous · 0⤊ 1⤋