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Old 02-13-2012, 05:18 PM
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Which Taxpayers are susceptible to AMT Taxes in 2011?

Taxpayers that would be increasingly susceptible to AMT taxes if any of the following 5 conditions applies to them as follows;
  1. The Taxpayer is claiming several dependents.

  2. The Taxpayer is claiming a very high real estate tax and/or State and Local Tax deduction.

  3. The Taxpayer is claiming a substantially high amount of miscellaneous itemized deductions.

  4. The Taxpayer is exercising and holding incentive stock options.

  5. The Taxpayer is realizing significant long-term capital gains.
In order to determine whether or not a taxpayer is subject to AMT, the taxpayer may visit the IRS website and can use the "AMT Assistant," a tool that will determine if Form 6251 is needed to file.

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