Who is most likely to owe AMT?

High-income earners with large SALT deductions, ISO stock option exercises, significant depreciation deductions, or large long-term capital gains relative to ordinary income. The 2017 TCJA raised exemptions, reducing AMT impact for most middle-income earners.

What are the 2024 AMT exemption phase-out thresholds?

Single: exemption phases out at $609,350; MFJ: phases out at $1,218,700. The exemption reduces by 25 cents for each dollar above the threshold.

How do I avoid triggering AMT?

Time ISO exercises carefully; avoid ISO/AMTI traps in high-income years; consider restricting itemized deductions that are not AMT-allowable; consult a tax advisor when stock options are involved.

Alternative Minimum Tax (AMT) Calculator

Estimate your 2024 AMT liability. Applies 26% and 28% flat rates to alternative minimum taxable income (AMTI). Exemption: $85,700 single / $133,300 MFJ in 2024.

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Frequently Asked Questions

Who is most likely to owe AMT?

What are the 2024 AMT exemption phase-out thresholds?

How do I avoid triggering AMT?