Alternative Minimum Tax is a required second tax imposed on individuals that make over a certain amount of income. AMT requires taxpayers to calculate their tax both ways (regular tax and AMT tax) and pay the higher amount.
What are the thresholds and exemptions?
For 2023, the Alternative Minimum Tax thresholds and exemptions AFTER REFORM have increased to the following amounts:
| Single | Joint or Surviving Spouse | Married Filing Separately | |
| AMT Exemption Amount | $81,300 | $126,500 | $63,250 |
| AMT Phase-out Income Level | $578,150 | $1,156,300 | $578,150 |
2022 Alternative Minimum Tax thresholds and exemption amounts
| Single | Joint or Surviving Spouse | Married Filing Separately | |
| AMT Exemption Amount | $75,900 | $118,100 | $59,050 |
| AMT Phase-out Income Level | $539,900 | $1,079,800 | $539,900 |
2021 Alternative Minimum Tax thresholds and exemption amounts
| Single | Joint or Surviving Spouse | Married Filing Separately | |
| AMT Exemption Amount | $73,600 | $114,600 | $57,300 |
| AMT Phase-out Income Level | $523,600 | $1,047,200 | $523,600 |
For more information regarding Form 6251, please see the IRS instructions.