What Causes Alternative Minimum Tax Liability?
Miscellaneous Itemized Deductions
Certain itemized deductions are available if your total in this general category is more than 2% of your adjusted gross income. Among the items here are unreimbursed employee expenses, tax preparation fees, and many investment expenses. You can not deduct these items under the AMT, though. If you claim a large number in this area, you could end up paying alternative minimum tax.
Contact H&M to discuss how AMT affects you
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As a certified public accounting firm based in the New Orleans Metropolitan Area, we are dedicated to leadership in professional accounting services and constantly seek innovative ways to better serve our clients in existing and expanded dimensions. We take exceptional pride in our ability to provide clients with a large degree of personal attention.
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