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No. of Recommendations: 2
AMT will eliminate your deduction for various taxes, but should leave your mortgage interest alone.

In splitting your returns, it's possible that the income on one of the separate returns is low enough to avoid AMT, but the income on the other should get hit harder with AMT. So the net effect should be small, and quite possibly a higher tax on the split returns.

I'd still guess that you're doing something wrong to get a significantly lower tax on the separate returns, particularly if AMT is going away on both returns.

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