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Corbett's AMTI is $620,000. What is his AMT exemption under the following alternative circumstances? b. He is married and files a separate return Amount of
Corbett's AMTI is $620,000. What is his AMT exemption under the following alternative circumstances?
b. He is married and files a separate return
Amount of AMT exemption=?
c. His filing status is single.
Amount of AMT exemption=?
d. His filing status is head of household.
Amount of AMT exemption=?
EXHIBIT 8-5 2019 AMT Exemptions
Filing Status | Exemption | Phase-Out Begins at This Level of AMTI | Phase-Out Complete for This Level of AMTI |
---|---|---|---|
Married filing jointly | $111,700 | $1,020,600 | $1,467,400 |
Married filing separately | 55,850 | 510,300 | 733,700 |
Head of household and single | 71,700 | 510,300 | 797,100 |
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