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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (77977)	1/15/2007 7:03:54 PM
From: Paul Senior	Read Replies (3) \| Respond to of 206183

AMT. It's also something to do with 'are affected now' (by the AMT) vs. a 'will be affected' category Unless the laws change, apparently I will be in latter category (I will be affected by it), and I don't know in advance to what extent. For 2005 taxes though (where our (married/filing jointly) ltcg far exceeded salary and dividend income), I skated by. I have to go with the tax-preparer for now. Assuming a reasonable number of his clientele are people who have large ltcg, and assuming he (like most normal people/accountants) plugs numbers into a tax computer program, if the computer program says very few of these clients have to pay the AMT, then I have to assume that FOR NOW, you might in the minority of this class who do fall into it. In future though, as that site indicates, and as I suspect, apparently more and more of us will be joining you. (Well, if we're fortunate enough to have large ltcg then.)

To: Wyätt Gwyön who wrote (77977)	1/15/2007 7:19:21 PM
From: ChanceIs	Respond to of 206183

>>> i don't know how they define income either. i would guess AGI.<<< I can tell you this. I have been all over the IRS website. I recall finding a glossary. To the point, IRS offers no definition of Adjusted Gross Income (AGI). I kid you not. I searched high and low trying to comprehend the AMT. I thought if I started from AGI I could work backwards. As has been discussed here, the most sensible approach to AMT is simulation. The government won't help you understand the transfer function in order to help you minimize your tax burden.