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Author: SirTas Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121597  
Subject: AMT Date: 10/11/2008 7:44 PM
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I filed for an extension of 2007 taxes, which gives me until October 15. When I looked at the booklet, it said that the AMT exemption had been decreased to $45,000 for MFJ (my situation), but that there was also possible legislation that would change this. I'm wondering whether there have indeed been changes in the numbers. ($45,000 sounds really low. Wasn't the figure over $60,000 for MFJ in 2006?)

Supposing for the sake of argument that the $45,000 figure is the correct one, should I be looking at AGI (1040, line 37)? Then, am I correct that if my line 37 is above that amount, then I'm liable for AMT (but that even if line 37 is below that amount, there many be other factors that make me liable for AMT)?

--SirTas
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