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Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she deduct under each of the following
Olga is married and files a joint tax return with her husband.
What amount of AMT exemption may she deduct under each of the following alternative circumstances? Exhibit 8-5.
Note: Leave no answer blank. Enter zero if applicable.
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Her AMTI is $392,500.
Her AMTI is $1,181,000.
Her AMTI is $1,602,500.
EXHIBIT 8-5 2022 AMT Exemptions
Filing Status | Exemption | Phase-Out Begins at This Level of AMTI | Phase-Out Complete for This Level of AMTI |
---|---|---|---|
Married filing jointly | $118,100 | $1,079,800 | $1,552,200 |
Married filing separately | 59,050 | 539,900 | 776,100 |
Head of household and single | 75,900 | 539,900 | 843,500 |
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