Re: WTF is this AMT nonsense? (taxes)
I'm not really a tax "expert", but I am an accountant and know a decent amount about taxes. I think you should take your taxes to somebody else (more experienced)....this guy doesn't seem to know what he's doing very well.
I'd have to research it to be sure, but I'm pretty sure that the deductions for gambling losses are not included in the AMT calculation. Therefore, even if you have (hypothetically) $1,000,000 in wins and $9,950,000 in losses (for total income of $50,000), you should still not be hit with AMT.
But like I said I'm not really a tax expert, but I don't think your guy is either....I'd go to somebody else.
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