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Subject:  Re: Rental Condo Tax Issues Date:  4/24/2003  6:30 PM
Author:  buzman Number:  65156 of 131235

Hi George,

I don't know your AMT situation, but interest on home equity loans is added back for AMT.

"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

It reads easier than the IRS stuff.

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