The AMT Advisor
Answers to All Your Alternative Minimum Tax Questions

AMT Changes for 2013

As part of the American Tax Relief Act of 2012, three inflation
adjustments have been permanently added to the AMT. The threshold
for the 28 percent AMT rate, the AMT exemption, and the threshold for
the phaseout of the AMT exemption are all indexed for inflation for 2013
and later years. This means that each of these amounts automatically
will be increased each year based on the Consumer Price Index,
making it unnecessary for Congress to pass "AMT patch" legislation to
increase the amounts. The IRS released the inflation adjusted amounts
for 2013 in Revenue Procedure 2013-15.

28% rate: For 2013, the 28% rate applies to AMTI over $179,500 for
taxpayers filing single, head of household,surviving spouse, and
married filing jointly. The 28% rate applies to income over $89,750 for
married taxpayers filing separately.

Exemption amount: The exemption amounts for 2013 are:







NOTE: These amounts are used on your 2013 return, which you will file
in 2014.

Exemption threshold: The AMTI amounts over which the exemption
will begin to phase out in 2013 are:









NOTE: These amounts are used on your 2013 return, which you will file
in 2014.


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Minimum Tax Credit
Filing Status
Amount
Single and Head of Household
$51,900
Married Filing Jointly and Qualifying Widower
$80,800
Married Filing Separately
$40,400
Filing Status
Amount
Single and Head of Household
$115,400
Married Filing Jointly and
Qualifying Widower
$153,900
Married Filing Separately
$76,950