Does anyone have experience with AMT (Alternative Minimum Tax), with regards to long term capital gains? This is the USA tax thing. From what I understand, if your income (which includes cap gains) goes over a certain amount, you may be subjected to a different tax structure. The only thing that I am trying to find out, which has not been easy after looking around the IRS and various sites, is if long term cap gains are currently capped at a 15% tax rate, can that rate go higher with the AMT tax structure? I understand that the taxes themselves will be higher as you loose certain exclusions such as standard deductions, and some others. I just can't find a piece stating that the cap gains would still be held at 15%. From what I found, they are going up into the 20%+ area (which of course sucks if that is true).
Sorry, I forgot to put the OT (off topic) in front of the subject.
Here is the Alternative Minimum Tax form.http://www.irs.gov/pub/irs-pdf/f6251.pdfjkm929
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