Due to a quirk in the tax system, you may encounter alternative minimum tax (AMT) if you have a large long-term capital gain. We’ve updated and revised our explanation of how this happens and what you may be able to do about it.
Have you heard that the Tax Cuts and Jobs Act repealed the alternative minimum tax (AMT)? Probably not, because the AMT survived. Yet it’s been whittled down to a shadow of its former self. For nearly all taxpayers, AMT repeal is a practical reality.
featured article: AMT Repeal, for Most
Note: This article kicks off a series on the profound changes made by the Tax Cuts and Jobs Act.