Question

Calculate the 2017 AMT exemption amount for the following cases for a married taxpayer filing jointly, and a married taxpayer filing separately.

Case	AMT
1	$150,000
2	$300,000
3	$800,000

Click here to access the exemption table. Do not round computations, but round your final amounts to the nearest dollar. For each case above, compute the AMT exemption for 2017. Note: If an amount is zero, enter a "0". Do not round your intermediate computations and round your final answer to nearest dollar.

Case	Married Jointly Married	Married Filing Separately
1	$	$
2	$	$
3	$	$

Marrie, Joint exemption - $84,5000 Begins at $160,900 and ends at $498,900

Single or head of household - $54,300 Begins at $120,700 and ends at $337,900

Married, separate - $42,250 Begins at $80,450 and ends at $249,450

Answer 1

Hi,

I have calculated the exemption amount (as well as the taxable amount and net tax) for all the nine cases (3 X3). Answers are in the table below.

	AMI		Single	Married Jointly	Married separately
	Exemption		51900	80,800	40,000
	Exemption Phase-out starts at		115400	153900	76950
	no more exemption at		323000	477100	238550
	Higher rate starts at		179500	179500	89750
Exemption at	150,000		43250	81775	21737.5
Net taxable			106,750	68,225	128,263
Tax			27755	17738.5	34118.5
Exemption at	300,000		5750	44275	0
Net Taxable			294,250	255,725	300,000
tax			80410	80410	82205
Exemption at	800,000		0	0	0
Net Taxable			800000	800000	800000
tax			220410	220410	222205