Scott B. Price, CPA

Exemptions for Alternative Minimum Tax

January 5, 2009

Congress has increased the exemption amounts for the alternative minimum tax for 2008. The exemption is now $69,950 for married filing jointly, $46,200 for married filing separately and $34,975 for unmarried filers.

We will provide you guidance in the filing instructions for your tax return or separate estimated payments on how to comply with these new requirements if they are applicable to your situation.