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Turbo Tax; Congratulations you are getting 5600.00 refund. We just need to see if you are subject to the AMT to finish your tax return. Opps, sorry you owe 4700 dollars. How do you want to pay?
You were doing the AMT calculations I assume. They were not optional.
I've found most "financial" and or "tax" advice published anywhere on the internet or passed on to me by "other than professionals" to be highly suspect. Most people leave out details or mitigations that are basically key to their whole way of doing things, they've missed something really important, or are passing on bad advice that they got. That doesn't include those who are intentionally passing on bad information for personal gain or just because they're twisted that way. I knew one guy over in base housing that had a "surefire" way of doing things that seemed suspect, but he swore was legit. A couple years later the IRS landed on him like a ton of bricks. Why do you think every other ad on talk radio is "Do you owe the IRS a gozillion dollars? Call us and maybe we can help you to not goto the slam for tax evasion".Originally Posted by sailingfun
I suspect you are going to cry when the AMT comes back. All those deductions were wiped out by the AMT anyway.Turbo Tax; Congratulations you are getting 5600.00 refund. We just need to see if you are subject to the AMT to finish your tax return. Opps, sorry you owe 4700 dollars. How do you want to pay?
You were doing the AMT calculations I assume. They were not optional.
You'd think that if you were going to embark on a new program, you'd get a couple of opintions from pros who knew what they were doing, but hey, let's invest in Iraqi dinars instead.