AMT home mortgage interest line 4 on form 6251

[STG]

Hi, I read the instructions for this form, but I still do not understand something. I was wondering if anyone knew the answer on this board. I have 2 mortgages now. My 1st mortgage secured my house, I didnt take any money from the first mortgage but I did refinance in 2003 to lower rate. Also, in 2003, I took out a home equity loan to pay off credit cards and stuff. I still have the same loans now in 2007. Will this EQUITY loan interest still have to be posted on my AMT worksheet? Or, is this loan's interest only for the 2003 year I took it out? I didnt use any money to build or fix up my house with either loan.

Also, probably not, but I thought I would still ask just to be sure, but, I wouldnt have to post my interest paid for my first AND second mortgage would I. Just my my 2nd, right???? (equity loan)

Thanks

[Bees Knees]

The portion of interest on a loan that was used to pay off credit cards is added back for AMT purposes every year, not just the year of refinance.

In other words, no interest is allowed for AMT purposes that is allocable to buying stuff other than for the purchase or major improvement of your home.

[STG]

Thank You, very helpful