I have a passive income investment with property I am leasing to a business.  It is 5-year property for depreciation purposes, eligible for bonus depreciation, but I will probably opt out of the bonus depreciation and use straight-line depreciation.  The depreciation deduction each year will completely offset the rental income for the 5-year depreciation period.  So, I will not be showing taxable income for the first 5 years on the investment.  Am I going to be subject to the alternative minimum tax for this?  It is only a passive income investment (not a business), and my primary source of income is W-2 income from my job.   So, I will be paying income taxes each year for my job, but the investment itself will not show taxable income for 5 years.