Answer: People who live in States where there is a high State income Tax. Also people who pay high local property taxes.
When you are subject to amt you lose the ability to deduct "other taxes paid".
This makes home ownership more expensive. It is one of the factors impacting the housing market today. I think that this is the biggest reason for an urgent reform of amt.
nice job; I really liked it
scottienotpippen 4 years ago
Well done.
Who pays AMT?
Answer: People who live in States where there is a high State income Tax. Also people who pay high local property taxes.
When you are subject to amt you lose the ability to deduct "other taxes paid".
This makes home ownership more expensive. It is one of the factors impacting the housing market today. I think that this is the biggest reason for an urgent reform of amt.
bk
gintsark 4 years ago