You may have to pay AMT if your taxable income plus certain adjustments is more than the AMT exemption amount.

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Inexplicably, Congress failed to index the AMT exemption amount for inflation.

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Finally, the AMTI is applied against its own set of rates, and your AMT is the amount that the taxes imposed under these alternative rates exceed your regular tax.

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Maybe you are subject to the alternative minimum tax, or AMT, a system that limits your federal deductions, if you make over a certain amount.

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