I hope you don't mind if I jump in.In addition to the itemized deductions that are added back for purpose of AMT computation the personal exemption (s) are added back, also.Furthermore, there are preference items for AMT, the one which may affect you are private activity muni bond interest. The "bargain element" on incentive stock options, ACRS/MACRS depreciation and intangible drilling costs associated with oil and gas production are also preference items.AMT is not indexed and will snare more taxpayers in future years. The people who designed EGTRRA '01 had to realize this in their projections but deftly managed to keep it under wraps. One good way to avoid AMT is to increase your taxable income. <grin>If possible you may want to try and bunch your itemized deductions-state and local taxes. Run the AMT projection to see if would be more beneficial to pay in December 2003 or delay paying these taxes until January 2004. Hope this helpsbuzman
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