AMT Patch

[JG EA]

Do I understand this correctly - The 2010 AMT patch was just for 2 years and does not include 2012?

[Nashville]

Think So

JG I think that is correct.

One thing about the political realities of the patch is that BOTH parties favor the patch. Republicans because it lessens the AMT on wealthy constituents, and Democrats because the AMT is a backlash for "blue" states that want to tax and spend at the state/local level.

Apologies to the board monitors, but had to get into a little partisan politics, because of all the firedrill extending these tax issues, the AMT patch is one of the most likely to get extended because of the above.

[dtlee]

Do I understand this correctly - The 2010 AMT patch was just for 2 years and does not include 2012?

Yes.

This is correct as of 4:48 PM EST on 12/6/11

[JG EA]

Thanks so much. I was thinking about someone who could defer income into 2012, but this factor alone would seem to indicate it staying in 2011. Highest regular bracket either way.

Although, they fix up this patch a lot. But who knows whether it will be or not. (Rhetorical.) Is there an emoticon for rhetorical? (Also, rhetorical.)

[JohnH]

Is an emoticon for rhetorical questions needed?

[JG EA]

Are they ever needed?:-)

[BHoffman]

Are they ever needed?

How can you say such a thing!!!!!

[JG EA]

OK - This is how much I am off base here.

I was figuring that the patch would be necessary to help my client but he makes too much money anyway! He gets no AMT deduction.

So, I have much of this emotion ,