Estimate whether you're subject to AMT and how much additional tax you may owe.
AMT Preference / Adjustment Items
AMT Calculation: AMTI = Taxable Income + Preference Items + Adjustments AMT Base = AMTI − AMT Exemption Tentative Min Tax = 26% on first $232,600 + 28% above AMT Owed = max(0, Tentative Min Tax − Regular Tax)
What is the AMT?
The Alternative Minimum Tax is a parallel tax system that ensures high-income taxpayers pay at least a minimum amount of tax, even if they have large deductions. You pay the higher of your regular tax or the AMT.