Calculate the 2017 AMT exemption amount for the following cases for a married ta

Question

Calculate the 2017 AMT exemption amount for the following cases for a married taxpayer filing jointly, and a married taxpayer filing separately.

Click here to access the exemption table. Do not round computations, but round your final amounts to the nearest dollar. For each case above, compute the AMT exemption for 2017. Note: If an amount is zero, enter a "0". Do not round your intermediate computations and round your final answer to nearest dollar.

Marrie, Joint exemption - $84,5000 Begins at $160,900 and ends at $498,900

Single or head of household - $54,300 Begins at $120,700 and ends at $337,900

Married, separate - $42,250 Begins at $80,450 and ends at $249,450

Case AMT 1 $150,000 2 $300,000 3 $800,000

Explanation / Answer

Hi,

I have calculated the exemption amount (as well as the taxable amount and net tax) for all the nine cases (3 X3). Answers are in the table below.

AMI Single Married Jointly Married separately Exemption 51900 80,800 40,000 Exemption Phase-out starts at 115400 153900 76950 no more exemption at 323000 477100 238550 Higher rate starts at 179500 179500 89750 Exemption at 150,000 43250 81775 21737.5 Net taxable 106,750 68,225 128,263 Tax 27755 17738.5 34118.5 Exemption at 300,000 5750 44275 0 Net Taxable 294,250 255,725 300,000 tax 80410 80410 82205 Exemption at 800,000 0 0 0 Net Taxable 800000 800000 800000 tax 220410 220410 222205

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.