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Subject Author Date
Does IRA Deduction affect AMT? Bewildered 02-07-2007
Posted by Bewildered on February 7, 2007, 7:29 pm
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 If I fall under AMT do I still get an IRA deduction?

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Posted by Rich Carreiro on February 8, 2007, 7:58 am
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> If I fall under AMT do I still get an IRA deduction?

Yes.

Or more precisely, if you get an IRA deduction under
the regular tax system, you also get it under the AMT.
Or even more concisely, IRA deductions aren't added
back in when computing AMT taxable income.

--
Rich Carreiro rlcarr@animato.arlington.ma.us

<< ======================================================= >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>

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