Reference Alternative Minimum Tax - 2019 If AMTI minus the exemption amount is: The Tax is: Of the Amount Over- But Not Over- Over- 0 $ 194,800 194.800 $ 50,648 + *507,400 and $25,324 for married taxpayers filing separately. 28% S 28% $ 194,800 AMT exemption and phase-out amounts: Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing joint returns and surviving spouses Married individuals filing separate returns 2019 Basic Exemption 71,700 111,700 55,850 2019 Phaseout Threshold 510,300 1,020,600 510.300 Brett and Janet are a married couple who believe they may be subject to the AMT this year. Currently, they calculate their alternative minimum taxable income (AMTI) to be $950,000. (Assume that the couple file a joint return.) (Click the icon to view the alternative minimum tax information.) Read the requirements. a. What is their AMT exemption amount? The couple's AMT exemption equals b. They are considering an opportunity that would allow them to earn additional income this year. As a result of this additional income, they believe that their AMTI will increase by S210,000 What will their AMT exemption be if they recognize the additional income? The couple's AMT exemption equals SL