Have a Tax Question? Ask a Tax Expert
I have a short term capital loss carry over of 225,000 and a current year long term gain of 95,000. Will I be subject to Alt Min tax on the gain?
Alternative minimum tax is usually not triggered by capital gains.
The triggers are usually the followings items:
Here's a link to IRS AMT calculator/estimator :http://apps.irs.gov/app/amt2014/assistant/process?execution=e3s1
It only takes couple of minutes and you can use estimated number.