Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Hi George,

I don't know your AMT situation, but interest on home equity loans is added back for AMT.

"Interest on a mortgge taken out after June 30, 1982 is not deductible for AMT purposes if the proceds are used for an purpose other than to buy ,build or substantially improve your principal or second residence." JK Lasser's Your Income Tax 2003

It reads easier than the IRS stuff.

buzman
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement