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Author: blearynet Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35270  
Subject: T bills and AMT Date: 7/20/2006 1:57 AM
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Is it likely that moving money from a taxable money market account to T bills (because of living in a high-tax state) would trigger having to pay alternative minimum tax if we were close in this past tax year? I can't seem to figure this out.
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Author: jackcrow Big gold star, 5000 posts Feste Award Nominee! Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17598 of 35270
Subject: Re: T bills and AMT Date: 7/20/2006 9:55 AM
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The tax help board is probably the best place to ask this question. Off the top of my head I would think it would not. T-bills returns aren't dramaticly different then MMA returns, depending on the individual MMA. I wouldn't think the capital gains, if any, would be large enough to change your tax situation.

Hope that helps

jack

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Author: Lokicious Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17599 of 35270
Subject: Re: T bills and AMT Date: 7/20/2006 10:08 AM
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Remember that you don't pay state taxes on T-bills and other Treasuries. This reduces your state tax, hence your state tax itemized deduction on your federal return, which should help with AMT compared to a money market, CDs or bonds taxed at the state level.

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Author: blearynet Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 17609 of 35270
Subject: Re: T bills and AMT Date: 7/20/2006 4:37 PM
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Thanks to both of you for your responses. They were definitely helpful. I will also post on the tax board, as suggested.

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