Is there any authority for the proposition that "modified adjusted gross income" (Form 8582, Line 7) can be different for regular tax and AMT? ProSeries seems to think so. However, Regs. Sec. 1.55-1 states, in pertinent part, that "...(i)n determining the alternative minimum taxable income of a taxpayer other than a corporation, all references to the taxpayer's adjusted gross income or modified adjusted gross income in determining the amount of items of income, exclusion, or deduction must be treated as references to the taxpayer's adjusted gross income or modified adjusted gross income as determined for regular tax purposes."
Tom, EA in Chicago