Subject: Effective tax rate 170% due to AMT Comment: I had to pay taxes at the rate of 170% due to AMT. I exercised Incentive Stock Options and did not sell them before the end of the year. To my surpise I had to pay more than $200k in taxes. And, another surprise was that I could not recover them in my lifetime. Unfortunately, with the unwinding of the stock market, I could not recoup the AMT losses and I hold the AMT credit and carryover losses which I cannot offset against anything. This tax is ridiculous and should be repealed immediately. |