May have found my own answer: http://taxes.about.com/od/1040/a/minimum_tax.htm The following items may trigger an AMT liability: Itemized deductions for state and local taxes, medical expenses, and miscellaneous expenses Mortgage interest on home equity debt Accelerated depreciation Exercising (but not selling) incentive stock options Tax-exempt interest from private activity bonds Passive income or losses Net operating loss deduction Foreign tax credits Investment expensesLooks as though state taxes and the additional property tax for the second home is what did us in. Weird though, as state taxes certainly go up with income. Eh, I gave up expecting taxes to be logical a while ago.IP,not expecting a repeat issue with AMT next year, but not seeing how to avoid it either
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