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The alternative minimum tax (AMT) ... married filing jointly Exemption for single or head of household 1986–1990 21% 40,000 30,000 1991–1992 24%
Alternative Minimum Tax Exemptions. Filing Status. 2020 . AMT Exemption. Phaseout Begins. Single/Head of Household. $72,900. $518,400. Married Filing Jointly
Married couples filing jointly get a bump to $30,000, while heads of households can claim $22,500. ... will be happy to hear that the Alternative Minimum Tax exemption, ... to singles earning over ...
For married couples filing jointly, the deduction is $29,200 in 2024. It will increase to $30,000 in 2025. ... The TCJA increased the alternative minimum tax (AMT) exemption from $85,700 in 2024 ...
The lowest rate is 10% for single individuals with incomes of $11,000 or less, or $22,000 for married couples filing jointly. The Alternative Minimum Tax exemption amount for tax year 2023 is ...
Among other provisions, the act accelerated certain tax changes passed in the Economic Growth and Tax Relief Reconciliation Act of 2001, increased the exemption amount for the individual Alternative Minimum Tax, and lowered taxes of income from dividends and capital gains. The 2001 and 2003 acts are known together as the "Bush tax cuts".
In 2024, the standard deduction is $14,600 for single filers and $29,200 for married taxpayers filing jointly. In 2025, the deduction will increase almost 3% to $15,000 for single taxpayers and ...
Under the new law, for 2010, the exemption amount has increased to $72,450 for married couples filing jointly; $47,450 for individual taxpayers and $36,225 for married couples filing separately ...
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