Reference no: EM132598229
Question 1: Corbett's AMTI is $624,000. What is his AMT exemption under the following alternative circumstances?
a. He is married and files a joint return.
b. He is married and files a separate return.
c. His filing status is single.
d. His filing status is head of household.
AMT Exemptions
Filing Status Exemption Phase-Out Begins at This Level of AMTI Phase-Out Complete for This Level of AMTI
Married filing jointly $111,700 $1,020,600 $1,467,400
Married filing separately 55,850 510,300 733,700
Head of household and single 71,700 510,300 797,100
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