AMT At-Risk Allowed Amount?

How do I find out what my AMT At-risk allowed amount is? I have a passive rental property with loss, MFJ, combined income is 224,000. Is there a certain formula?



The AMT difference arises if the AMT version of your 6198/8582 has different figures input into it. The differences arise from the fact that depreciation under AMT may be different that depreciation under the regular 1040 rules. In the early years of owning an asset, you add the disallowed depreciation back. In the later years of owning an asset, you subtract.





Depreciation differences are due to AMT stretching depreciation out over a longer time period than the regular 1040 rules. (If you have such property, it%26#039;s best to elect to depreciation using the AMT rules so that you never have to adjust for it.)





Depreciation of post-1986 property


(real and personal)





Under 1040 system:


Accelerated cost recovery system using prescribed recovery periods and 200% declining balance method for 3, 5, 7, and


10 year classes





Under AMT system:


For property placed in service after 1986 and before 1/1/99, alternative depreciation system class lives (generally longer) and 150%


declining balance method (generally slower) is used. For property placed in service after 12/31/98, regular tax lives are used.


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