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Subject:  Re: Rental Condo Tax Issues Date:  4/25/2003  3:05 PM
Author:  buzman Number:  65163 of 130017

"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

The way that I read this indicates the mortgage would be added back for AMT, but I'm not an accountant. FWIW, AMT will snare more taxpayers each year.


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