The Tax Cuts and Jobs Act (TCJA) made the individual alternative minimum tax (AMT) rules more taxpayer-friendly for 2018–2025 and significantly reduced the odds that you’ll owe the AMT for those years.
But the new One Big Beautiful Bill Act (OBBBA) contains mixed news about your exposure to the AMT. Here’s the current story on the AMT and how it could impact your personal tax situation for this year and beyond.
But first, we will cover some basic info.
AMT Basics
The AMT is a separate federal income tax system with a family resemblance to the more-familiar regular federal income tax system that you know and love.
The difference is the AMT system taxes certain types of income that are tax-free under the regular system and disallows some deductions that ... Log in to view full article.