AMT medical expenses

  • Creator
    Topic
  • March 15, 2015 at 4:05 pm #192731
    Gabe
    Participant

    Just to clarify…

    If you are under 65 there would be NO AMT add back since the rule is 10% of AGI for AMT and reg tax

    However, if you are over 65, the difference between 10% and 7.5% is added back for AMT.

    Yes? No? Maybe so?

    Thanks 🙂

    CPA, CFE
    CISA- Experience will be completed by August 2016

Viewing 2 replies - 1 through 2 (of 2 total)
  • Author
    Replies
  • March 15, 2015 at 5:01 pm #657064
    y_u_no_pass
    Participant

    That's what I remember. Not sure about the 65 cut off but if that is the right age, then yes

    Florida CPA!
    Took final exam 2/25/15.
    Sent in Application 3/12/15.
    Issued License 3/20/15.
    Used CPA Excel solely for all exams.

    March 15, 2015 at 8:20 pm #657065
    Last Chance CPA
    Participant

    Yes, that is correct. Age 65 and under, no AMT add backs. Age 65 and over, add back the diff of 2.5%..

    FAR - 76
    AUD - 75
    BEC - 75
    REG - 76

    Now I need some experience!!! And some networking...

  • Author
    Replies
Viewing 2 replies - 1 through 2 (of 2 total)
  • The topic ‘AMT medical expenses’ is closed to new replies.