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JLcpa
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Joined: 22 Sep 2009
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Posts: 202

Posted: 27 May 2011 at 18:09 \| IP Logged

Does anyone know if the ACE adjustments for AMT calculation for 2010 no longer includes tax exempt interest on municipal bonds issued in 2009/ 2010?
I heard this on Phil Yaeger's talk show but can't find it elsewhere.

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1tryCPA
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Joined: 27 Jun 2010
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Posts: 337

Posted: 28 May 2011 at 05:40 \| IP Logged

Yes, you are right. They are not included in ACE as they are not preference items for AMT, so no adj is needed

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