07
Mar
P-Dawg asked:
We will be remodeling/adding on to our home and want to do a cashout on the first mortgage (of around $60,000) and then do a 2nd (Equity loan) for the rest…does doing this put us at greater risk for having to pay AMT taxes and if so, in what way (which lines in the 1040 or 6251 affect this)? Is there a better approach we could take?
Christmas Gift Baskets
We will be remodeling/adding on to our home and want to do a cashout on the first mortgage (of around $60,000) and then do a 2nd (Equity loan) for the rest…does doing this put us at greater risk for having to pay AMT taxes and if so, in what way (which lines in the 1040 or 6251 affect this)? Is there a better approach we could take?
Christmas Gift Baskets