EDIT It looks like I don't have to pay. I didn't realize that under AMT I can still deduct most mortgage interest, and the interest on my primary mortgage is enough that with it sucked from the gross, it pushes me down a decent bit below, using AMT, the taxes I paid with the normal method, so I guess no AMT this time.
----
Well, this is fun. Here we are on April 14 and it seems I actually have to refile. I made an unusually large income last year because of how some relocation allowance was thrown onto my income. In short, when I did my taxes with taxcut,turbotax, and taxactonline using the deductions from property taxes, mortgage interest, and state taxes and then my $13k in exceptions on top of that, my taxes came out to a certain amount. I just this morning re-calculated and with the alternative minimum tax I owe about $900 higher.
1) I want to confirm that this is right: (Gross income - $66,250) * .26 = AMT. In this case, since it's $900 more, I need to pay $900 more right now. I did follow Form 6251 but got a bit confused. Are there any likely deductions I'm missing that are allowed against gross income when determining the AMT? I have no idea why none of the tax software flagged me to this two months ago.
2) How can I ammend this? Will I have to make a check for $900, file a 1040 X (?) and just drop it in the mail?
Thanks!