Subject: AMT Comment: I believe that AMT is completely unfair. As part of the niche telecommunications group that entered millionaire status on paper in 2000, I witnessed many of my colleagues devastated by AMT. The Nortel Networks Incentive Stock Options were valued at $90 when most of us exercised. Since the stocks were not sold before December 31st, the AMT was based on millions. In trying to take advantage of short or long term capital gains, people did not sell before the end of the year. The stock dropped like a rock and when April 15th came, it was worth less than $30. My friends owed more than they had on paper and could not possibly pay the huge tax. Something needs to change. I've seen too many lives completely ruined by a crazy, silly tax. |