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http://boards.fool.com/amt-question-27384336.aspx
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| Subject: AMT question | Date: 1/26/2009 8:37 PM | |
| Author: twputnam | Number: 103999 of 118626 | |
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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. Terry |
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