There is no easy way to determine if you’re responsible for paying the AMT, but usually those with lots of deductions and investments find themselves paying it. AMT Red Flags:

• If your gross income is above $100,000.
• If you have large numbers of personal exemptions.
• If you have significant itemized deductions for state and local taxes, home equity loan interest, deductible medical expenses, or other miscellaneous deductions.
• If you exercised incentive stock options (ISOs) during the year.
• If you had a large capital gain.
• If you own a business, rental properties, partnership interests, or S corporation stock.