I am expecting an $80,000 long-term capital gain from the sale of stock. I heard that this will trigger the alternative minimum tax (AMT). How bad will the AMT hurt me? (D.C., McLean, VA)
That depends. It might hurt a lot, or it might not hurt at all.
First, we have to reiterate our opinion that the AMT is one gigantic tax mistake. This is an unfair, stealth form of taxation that embodies zero logic. Here is ... Log in to view full article.