All about AMT -- why a tax meant for the wealthy could apply to you

Taxpayers love deductions and credits -- and why not? The number of deductions and credits in the Tax Code allows you to reduce your taxable income and tax due.

But what if you could deduct everything? What if your super pricey home meant your home mortgage interest deduction was sky high? Or if you paid exorbitant real estate taxes because of where you chose to live? Or if your miscellaneous itemized expenses related to your job were insanely expensive?