For a married couple filing jointly, at what income level does AMT take effect for the 2006 tax year?

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For a married couple filing jointly, at what income level does AMT take effect for the 2006 tax year?

I believe alternative minimum tax starts to kick in at a specified income level and I'm wondering what that level is for the 2006 tax year.

2006-10-31 05:31:39 · 2 answers · asked by Colonel 1 in Business & Finance ➔ Taxes ➔ United States

2 answers

62,550

For 2006, the exemption amounts are $62,550 joint filers $42,500 unmarried persons and $31,275 married filing separately

2006-10-31 05:41:16 · answer #1 · answered by Javelinl 3 · 0⤊ 0⤋

Whether or not the AMT affects you depends not only on your income level, but also on what deductions, exemptions, and adjustments to income you have.

2006-10-31 23:03:51 · answer #2 · answered by Judy 7 · 1⤊ 0⤋