Questions tagged [alternative-minimum-tax]
40 questions
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What is Alternative Minimum Tax (AMT) and how does AMT get calculated? [U.S.]
What is Alternative Minimum Tax (AMT) in the U.S.? How does Alternative Minimum Tax get calculated?
What conditions are likely to trigger an AMT assessment versus a regular tax assessment?
Are there any useful online calculator tools to help…
user178
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How does one calculate their AMT MAGI to determine their passive activity loss limitation?
The instructions for line 19 (passive activities) of Form 6251 (Alternative Minimum Tax) mention that you may need to do an AMT version of Form 8582 (Passive Activity Loss Limitations):
Refigure your passive activity gains and losses for the AMT by…
Craig W
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Will anything happen to me if the AMT is not re-established before 2011?
Who will be effected if congress does not renew the limit raise on the AMT by the end of the year? Will this change how much will be owed for 2010, and due in April 2011?
C. Ross
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Dividing capital gains over 2 calendar years
I was reading through some investment brokerage literature and came across this caption
Long-term capital gains & AMT
Realizing a capital gain that's large in comparison to the rest of your income could trigger alternative minimum tax (AMT). If…
jxramos
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How to know FMV of ISOs?
I'm researching when is best to purchase ISOs I've been vesting at a private venture-backed startup. My understanding is that when I exercise, AMT will trigger and I will have to pay those taxes based on the increase in fair market value compared to…
user1847319
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Does AMT affect cost basis of future capital gains?
Suppose I exercise 10k stock options for $1/share, and fair-market value is $2/share.
Normally, taxes are deferred until when I sell them. And when I sell, the basis for capital gains is $1/share.
But suppose the exercise causes me to pay AMT…
Paul Draper
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2017 state tax refunds and AMT
If my 2017 state tax deductions are reduced by alternative minimum tax, does the state tax refund become taxable income in 2018?
mike b
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Do high premium health plans make sense for those self-employed AND subject to the AMT?
As you may have guessed, I am self-employed and subject to the AMT. When evaluating health insurance plans for my family, I chose a high premium/low deductible plan so that I could take advantage of the self-employed health insurance tax deduction.…
RADA
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Why does the credit for prior year AMT exist?
The ways in which the US alternative minimum tax (AMT) differs from the regular tax fall into two components: excluded deductions (e.g., state taxes) and disallowed deferrals (e.g., exercising ISOs (Incentive Stock Options)). The AMT for the…
Benjamin Peterson
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When paying AMT, might it make sense to take standard deduction even if it's more expensive?
Due to an ISO exercise, I must pay AMT this year. But this was a one-time thing: I will probably not need to pay AMT next year.
Since ISO exercises are considered a "deferral item", my understanding is this will result in being able to claim an AMT…
Phil Frost
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ISO exercise limit before triggering AMT
With recent 2018 changes to AMT, I wanted to understand how much ISO options can I exercise without making a material difference in AMT
Scenario
Current income 200k
Claiming standard deduction for Married Filing Jointly (24k)
401k deduction (36k) …
Kris
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Purchase Stock but cannot pay AMT
I was released by my company and I had to purchase my ISO's within 60 days of leaving the company or lose them. The issue is to purchase them would mean around a $1.2m AMT & State Tax Bill next year. As the company is private they determine if and…
Roger Lammin
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Should my regular income tax unallowed prior year passive activity loss carry over to the AMT passive activity loss calculation?
This is a pretty esoteric question but worth a shot. I have a rental property. In 2015 I had an unallowed loss. In 2016 I exercised incentive stock options which resulted a higher alternative minimum tax (AMT) income, thus requiring me to do a…
Craig W
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Will I lose the AMT tax I paid if my startup fails?
I recently parted ways with a startup. I was granted options and now must exercise them. When I exercise them, I will incur the Alternative Minimum Tax (AMT).
If the company fails and goes bankrupt, am I able to retrieve the AMT I paid or is it…
Zephyrus
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What strategies are there for minimizing AMT?
AMT can cause an effective 35% marginal tax rate for certain income ranges. Incidentally, the income ranges where this happens can be far below the usual ($411k MFJ) non-AMT income required for that kind of tax rate.
What strategies can be used…
glenviewjeff
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