Guide to Alternative Minimum Tax (AMT)
Welcome to our free online guide to the alternative minimum tax, or AMT.
Current feature
"AMT Deficit" Goes On-Budget
President Obama's decision to stop the budgetary pretense surrounding the alternative minimum tax (AMT) may lead to a permanent fix to this vexing problem, and could have other important implications.
details: "AMT Deficit" Goes On-Budget
Here's a list of pages available in this guide.
AMT in general
- Alternative Minimum Tax 101
Read this page to get the big picture. - Top 10 Things that Cause AMT
Liability
Or maybe 11. - AMT and Long-Term Capital Gain
Explains why you may run into alternative minimum tax liability when you have a large long-term capital gain — and what you can do about it. - AMT Capital Loss Trap
Some people inadvertently pay AMT they don't owe when they fail to realize a regular tax capital loss carryover can be used in the AMT calculation. - Dual Basis Assets
It's important to realize that you can end up owning assets that have an AMT basis that's different from the basis you use for regular tax purposes. If you miss this detail you may end up throwing tax dollars away. - Claiming AMT Credit
You may be able to claim AMT credit from exercising an incentive stock option even if you haven't sold the shares. If you failed to do so, you have a limited amount of time to correct the mistake.
Long-term unused minimum tax credit
These pages provide detailed guidance on the refundable credit for long-term unused minimum tax credit, which became available in 2007.
- Refundable AMT Credit
Overview of the refundable credit. - Refundable AMT
Credit Calculation
A description of the steps in calculating the refundable AMT credit. - Long-Term
Unused Credit
Rules for determining how much of your unused credit is long-term. -
Tentative Refundable
Credit
This is the portion of your long-term unused credit you're allowed to claim, subject to coordination with the regular AMT credit. - Coordination with Regular AMT Credit
The refundable credit is allowed only to the extent it exceeds the nonrefundable AMT credit.
