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Article Date:
May 2012

Word Count:



W-2 Mortgage Loan Officer Avoids AMT with Employee Business Expense Deductions on Schedule C

Dean Cibotti worked as a commission-only mortgage loan officer, for which Liberty Trust Mortgage Inc. paid him as a W-2 employee.


Mr. Cibotti noted that the W-2 category caused him to pay the AMT, so he deducted his business expenses on Schedule C.


AMT Unfairness


To understand how the AMT can work against a mortgage loan officer, imagine that the mortgage loan officer



earns $200,000, and


incurs $125,000 of business expenses.


Your financial training says that the mortgage loan officer has a net income of $75,000. ... Log in to view full article.

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