The Alternative Minimum Tax (AMT) is a separate tax calculation that is intended to prevent high-income taxpayers from not paying their fair share of taxes through an excess use of deductions and credits. Taxpayers with an AGI greater than the AMT exemption are required to calculate their income tax using both the standard income tax calculation and the AMT calculation and pay the higher amount.
The AMT is calculated by starting with the adjusted gross income (AGI) from form 1040, line 11b, then adding back certain deductions and including additional income. This is the amount of AMT income. Then, an AMT exemption amount is determined based on the AMT income and the AMT income is reduced by that amount. The remaining AMT income is taxed at 26% or 28% depending on the level of income.
To determine the AMT, enter information from the federal tax return in the green fields. The amount of the AMT, if any, will be in the blue field at the bottom. Click this link for more help with this tool.
Tax Year
Filing Status
Taxpayer's Birthday
Spouse's Birthday
Taxpayer Is Blind
Spouse Is Blind
1040, line 11b
Adjusted Gross Income (AGI)
1040, line 3a
Qualified Dividends
1040, line 7a
Capital Gains
1040, line 15
Taxable Income
1040, line 16
Income Tax
1040 SA, line 17
Itemized Deduction
1040 SA, line 7
Taxes Paid Deduction
1040, line 13a
QBI Deduction
Tax Refunds (subtraction)
Investment Interest Expense
Depletion
Net Operating Loss
Alternate Net Operating Loss (subtraction)
Private Activity Bonds Interest
Qualified Small Business Stock
Incentive Stock Options
Estates and Trusts
Disposition of Property
Post 1986 Depreciation
Passive Activities
Loss Limitations
Circulation Costs
Long-term Contracts
Mining Costs
Reseach Costs
Installment Sales (subtraction)
Intangible Drilling Costs
Other Income
AMT Income
0
AMT Exemption
0
Alternative Minimum Tax (AMT)
0