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Financial Planning / Tax Strategies
|Subject: AMT question||Date: 1/26/2009 8:37 PM|
|Author: twputnam||Number: 103999 of 125206|
I have a rental home with a loss for 2008 that consists of operating loss plus depreciation.
My AGI is over $150,000, so I cannot take the loss for 2008.
The tax program that I am using, TaxACT, adds the rental depreciation back to the adjusted AGI and then calculates the AMT tax.
Question? Since I cannot take the rental loss, thus it is not included in the adjusted AGI, should I NOT have to add it back for the AMT calculation?
Thanks for any insight.
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