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When sitting down with my accountant this year I was diagnosed as being subjet to the dreaded Alternative Minimum Tax.

OH MY GOD I screamed. Was there something I could take to cure this? Is it fatal? Will I be less attractive to women? WILL I EVER PLAY THE PIANO AGAIN?!?!?

He immediatly tied me down with a roll of adding machine tape and shot 2 paperclips down my throat with a horse-pill tube. I calmed down in short order.

So my question is: Is it a good thing to be in a situation where you get hit with the AMT?

It seems to me that it is. It seems that it's a symptom of having the benifit of more deductions then I should.

The only downsides I see are that I can't use a portion of some of my deductions this year and that I may want to stay away from some muni bond funds that hold bonds subject to the AMT.

Give it to me straight guys,
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