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Only in years where you have no AMT liability. GL with two earners in California. While you have AMT liability you have to keep endlessly carrying forward your
by encoderer 10y ago
Only in years where you have no AMT liability. GL with two earners in California. While you have AMT liability you have to keep endlessly carrying forward your 0% interest loan to the govt.
- jnordwick 10y ago1- I don't know how exactly AMT liability interacts with the capital loss carry over 2- Almost nobody hits the AMT jackpot year after year. 3- Ask your CPA and California's tax system is one of the worst in the country. They keep milking that SV cash cow year after year, and it is drying up but they don't seem to care :)
- encoderer 10y agoA lot of people in California (and NY, NJ, etc) hit AMT every year. Two incomes, with very large deductions for state income tax, mortgage interest, and property taxes paid.
- jnordwick 10y agoSo I have to choose between a wife and a house? Eek... I guess I can always just get a dog. Sadly, I say that only half jokingly.