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Not one AMT return this year


Abby Normal

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2 hours ago, jklcpa said:

a very small credit on the 8801

I have once who got big credits two years running - but he got HAMMERED a few years ago with AMT on the stock options that have the two bases (forget which ones; I *always* look 'em up).  Paid $13K tax on a LOSS, and at this point has gotten *most* of that back.

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No AMT either.  Some of my high real estate tax clients from Long Island and Westchester caught a break.   Paying 18K for 3 bedrooms and 2 baths is enough of an insult.  But others with high combined SALT weren't so lucky when it came to the bottom line.

I never could wrap my head around this tax bill.  Except for 199A helping small business people I feel the rest was a lot of hocus pocus, now you see it, now you don't tax law.  But I'm done, I think I'll have some avocado toast and coffee and watch the other news.

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No AMT.  Several of my clients in Colorado hit the SALT losing thousands in deductions.  One client with four children under 17 qualified for the first time for the child credit.  That client felt like he won the lottery.  I was thankful for the comparison form, and all the people on this board. 

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Agree about the comparison form... it helped explain much to clients not quite grasping what went wrong in many cases or right in a few.  I also like the tax summary which shows the marginal and blended tax rate.  Several folks got moved to a different bucket in 2018 so that helped, too, but this board helped the most!  Thanks again and again to Eric for this platform. 

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