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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!

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