Are You Subject to the ATM?

The Alternative Minimum Tax is designed to force many affluent taxpayers who qualify for certain exemptions to pay a greater share of taxes. Though the AMT was permanently indexed to inflation in 2013, many Americans are still subject to the tax.

Here are a few things you should know:

  • You may be subject to the AMT if your modified adjusted gross income (MAGI) is above the AMT exemption amount for your filing status.
  • The 2016 AMT exemption amounts for each filing status are:

o   Single and Head of Household = $53,900

o   Married Filing Joint = $83,800      

o   Married Filing Separate = $41,900

o   Head of Household = $53,900

·         The rules for calculating the AMT are more complex than those for regular income tax, so it’s a good idea to work with a qualified tax professional or use the IRS e-file software. If you want to file a paper tax return, the AMT Assistant tool on can also help.

·         If you find that you owe AMT, you usually must file Form 6251.

For more information about the AMT, see Form 6251 instructions on or speak with a tax specialist in your area.


Footnotes, Disclosures & Sources

Tip courtesy of Tip courtesy of TurboTax