Hit by AMT!

[Unregistered]

Client is a doctor and I did his joint personal tax return. AGI = 329,000, Sch A = 20599

It shows $701 for AMT. I have not done AMT before. Is there any way to reduce or eliminate AMT?

Thanks

[Armando Beaujolais]

Probably not. I had people hit with AMT last year that didn't have any AMT adjustments or preferences. I wish Congress would just raise tax rates if they're going to do that, but they don't understand AMT, they just monkey with it.

[Unregistered]

It could be more than you figured. You must also take into account home equity interest along with a few other items that your software will not automatically do. I would research AMT a little deeper before running return.

[Unregistered]

Yes, he could give his staff raises.