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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Spots who wrote (2108)	4/1/1999 12:49:00 PM
From: Maywood	Respond to of 5810

Thanks for the prompt responses! I understand now (well, sort of!) I do know that by having a high income (over $175K for married filing jointly), you do lose part or all of the $45K AMT exemption (or whatever it's called) that you normally get to subtract before applying the 26% tax. We already had to deal with the AMT for 98 taxes since we exercised some options in 98. We had to pay $500 extra under the AMT, which I didn't think was that bad. And, I believe we will get some or all back later in another year when we don't have to pay the AMT.