Depending on what caused the AMT you might be able to
recover it in a later year, whereas the deduction is not
recoverable. Anyway, it shouldn't be different by enough
to worry about and probably really isn't different. /trying
to guess at what is causing an aparant error without seing
the data if futile.

ed

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Depending on what caused the AMT you might be able to
recover it in a later year, whereas the deduction is not
recoverable. Anyway, it shouldn't be different by enough
to worry about and probably really isn't different. /trying
to guess at what is causing an aparant error without seing
the data if futile.

ed

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"ed" <ed[at]edcosoft.com> wrote:

- quote -

If it increases my total tax (since the decrease in regular
tax is less than the increase in AMT) how can it be good for
me? I am confused.

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Not taking deductions does not change your total tax. As
you noted, regular tax goes down, AMT goes up. The
idfference is probably due to the fact that the AMT is
figured at 26% and your tax bracket is probably 25%. Take
the deduction. It can't hurt and may turn out to be better
for you.

ed

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After I completed my federal taxes, but before filing, I
found that I had forgotten a deduction. When I put it in
(TaxCut) my taxes went up!

Actually my regular taxes went down a bit, but my AMT went
up more than the regular taxes went down.

1) Is such a thing possible, or am I (or TaxCut) doing
something wrong? All I did was add the deduction; no other
changes. When I change it to zero, they go back where they
were.

2) If it is right, can I chose not to take the deduction?

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