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What changed in the Alternative Minimum Tax (AMT)?

April 26, 2017alternative AMT changed minimum tax

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What changed in the Alternative Minimum Tax (AMT)?

2 Answers

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The AMT exemption amount has decreased to $44,350 ($66,250 if married filing jointly or qualifying widow(er); $33,125 if married filing separately). Also the credit for child and dependent care expenses, credit for the elderly or the disabled, education credits, residential energy credits, mortgage interest credit, and the District of Columbia first-time homebuyer credit are no longer allowed against the AMT, and a new tax liability limit applies. This limit is your regular tax minus any tentative minimum tax (figured without any AMT foreign tax credit). Back to question list What forms will I-CAN!® E-File complete? I-CAN!

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Posted

The AMT exemption amount has decreased to $44,350 ($66,250 if married filing jointly or qualifying widow(er); $33,125 if married filing separately). Also the credit for child and dependent care expenses, credit for the elderly or the disabled, education credits, residential energy credits, mortgage interest credit, and the District of Columbia first-time homebuyer credit are no longer allowed against the AMT, and a new tax liability limit applies. This limit is your regular tax minus any tentative minimum tax (figured without any AMT foreign tax credit). Back to question list What forms will Yes I-CAN!® E-File complete? Yes I-CAN!