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Posted by pjhartman@gmail.com on February 4, 2008, 4:30 pm
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Facts:
State: Nebraska
Married filing Jointly
Subject to AMT
Children: Two that can be claimed as dependents.
Federal and state tax initially figured with both children claimed as
dependents. Subject to AMT.
Did a "what if" scenario of claiming only one child as a dependent.
Federal tax paid remains unchanged ("normal" tax increased, of course,
but the AMT decreased by a corresponding amount, so no change.) yet
state tax decreased.
Performed a second "what if" of claiming no dependents. Federal tax
still unchanged as before, and state tax decreases again.
I didn't think I'd ever encounter this. Has anyone else seen a
similar situation?
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