@Farwars
With regard to your AMT question. Becker gives a helpful mnemonic for this. It sounds like you are not using Becker, so here it is: PANIC TIMME
Adjustments:
P – Passive Activity Losses
A – Accelerate Depreciation (post 1986 purchase)
N – NOL of the individual taxpayer
I – Installment income of a dealer
C – Contracts – % completion vs completed contract
T – Tax “deductions”
I – Interest deductions on some “home equity loans”
M – Medical Deductions (limited to excess over 10% AGI; adjustment for taxpayers 65 or over)
M – Misc deductions not allowed
E – Exemptions (personal) and standard deductions
PANIC will increase or decrease
TIMME will only increase
Tax Preference Items (always increase)
P – Private activity bond interest income
P – Percentage depletion the excess over adjusted basis of property
P – Pre 1987 A/D
4 for 4
FAR 85
AUD 94
BEC 86
REG 90
.