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.
For 2019, the Alternative Minimum Tax thresholds and exemptions AFTER REFORM have increased to the following amounts:
- AMT Exemption Amount - $71,700
- AMT Phase-out Income Level - $510,300
Joint or Surviving Spouse
- AMT Exemption Amount - $111,700
- AMT Phase-out Income Level - $1,020,600