Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
AMT
Old 04-15-2005, 03:55 AM   #1
Recycles dryer sheets
 
Join Date: Oct 2004
Posts: 178
AMT

Sucks.

Ed
__________________

__________________
gratefuled is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: AMT
Old 04-15-2005, 06:18 AM   #2
Recycles dryer sheets
newellcr's Avatar
 
Join Date: Aug 2003
Posts: 187
Re: AMT

Ed,

After doing my own taxes for years, I hired out the job the last two years. I raised the AMT issue with the tax preparer and she said that I am far away from the AMT with my milk toast return. However, Kiplinger magazine horror stories get my attention.

What pushed you into the AMT category?

Cheers,

Chris
__________________

__________________
newellcr is offline   Reply With Quote
Re: AMT
Old 04-15-2005, 06:44 AM   #3
Recycles dryer sheets
 
Join Date: Jan 2005
Posts: 118
Re: AMT


AMT bit us because we have income in excess of 200K and a paid for home. So we paid AMT despite taking 0 exemptions. I don't like AMT.
__________________
rapoole is offline   Reply With Quote
Re: AMT
Old 04-15-2005, 07:01 AM   #4
Recycles dryer sheets
 
Join Date: Oct 2004
Posts: 178
Re: AMT

My income level caused AMT's deduction-limiting provisions to kick in. I read last night that there are an estimated 4 million new AMT-payers this year, and more are expected every year, as COLAs continue to push more and more people above AMT levels.

I could be philosophical and say it's a good problem to have, I guess. Doesn't bring a whole lot of satisfaction, though.

Ed
__________________
gratefuled is offline   Reply With Quote
Re: AMT
Old 04-15-2005, 07:08 AM   #5
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
Re: AMT

AMT kicks in when income > 150K

I agree with you - it sucks.
__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Re: AMT
Old 04-15-2005, 10:54 AM   #6
Recycles dryer sheets
newellcr's Avatar
 
Join Date: Aug 2003
Posts: 187
Re: AMT

Thanks for the info. Did any of you figure the full return both ways - traditional and AMT versions? What was the difference?

Thanks,

Chris
__________________
newellcr is offline   Reply With Quote
Re: AMT
Old 04-15-2005, 11:21 AM   #7
Recycles dryer sheets
 
Join Date: Oct 2004
Posts: 178
Re: AMT

$953. Wish not filling out the AMT section was an option.

Ed
__________________

__________________
gratefuled is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
I'm in AMT Hell - anyone understand how to recover AMT Credit from ISO exercise? JB FIRE and Money 4 04-14-2007 10:39 AM
Capital Losses and AMT Delawaredave FIRE and Money 2 02-20-2007 05:32 AM
AMT is getting too close .... Help plattj1 FIRE and Money 5 05-02-2006 09:33 AM
amt & homesteaded property lazygood4nothinbum FIRE and Money 13 04-02-2006 01:51 PM
AMT Information cube_rat Young Dreamers 22 11-11-2005 08:36 AM

 

 
All times are GMT -6. The time now is 03:32 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.