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Income Tax Planning
Chapter 15: Alternative Minimum Tax/AMT FORMULA
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Chapter 15: Alternative Minimum Tax

AMT FORMULA

01.Core Concepts

Taxable Income (from regular tax system) Add: Adjustments that increase AMTI Less: Adjustments that decrease AMTI Add: Preferences Alternative Minimum Taxable Income (AMTI) Less: AMT Exemption AMT Tax Base Application of Appropriate AMT Rate Tentative Minimum Tax Less: Foreign Tax Credit Less: Regular Tax Liability (Form 1040) Alternative Minimum Tax (AMT)