Wednesday, November 23, 2011

Can you deduct home mortgage interest if you get hit with AMT?

Follow the instructions. Interest to buy, build or improve is not added back. Refis and cashouts are added to your income for AMT purposes and can push the AMT tax higher.





.Can you deduct home mortgage interest if you get hit with AMT?
Yes, you can still deduct your home mortgage, however the AMT will reduce the amount of deduction you are able to take.

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