Can somebody please offer a crayon-level explanation of who is affected by the Alternative Minimum Tax? I heard a man going on about how we "middle-class" people are likely to get sucked into paying this AMT, and that it is our responsibility to know when to pay it. I went to the IRS site and printed off the 6251 AMT form and instructions. Wow. I like to think I am an intelligent person, and up to this point I have been able to handle my own tax preparations (the vagaries of the new Schedule D could be a challenge), but this stuff is unbelievable! So, I have yet to figure out whether AMT is anything I have to worry about or not (Please, God, let it be "not"). Can anybody give me some direction on this? Thanks to any and all who try! JJ
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra