Posted by Dave T on November 24, 1999 at 15:46:01:
Many of your points on tax avoidance strategies are well taken. However, the Taxpayers Relief Act of 1997 established “caps” on the capital gains tax, and, Congress decreed that the same tax rates (e.g., 10%/20%/25%) apply to capital gains for alternative minimum tax purposes for non-corporate taxpayers.
As I interpret the new rules, capital gains resulting from collectibles (such as art, antiques, gems, and stamps) are still taxed at your marginal tax rate up to a maximum of 28%. For everything else where the minimum qualifying holding period is satisfied, the 10%/20%/25% capital gains rates apply for AMT purposes as well.