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The AMT isn’t a hard minimum on federal taxes. It is a different set of rules for what incomes and deductions count towards the “income” figure AMT is calculate
by throwawaysea 6y ago
The AMT isn’t a hard minimum on federal taxes. It is a different set of rules for what incomes and deductions count towards the “income” figure AMT is calculated against. There are ways to pay less than AMT, legally, and this is a purposeful choice in its design. There are still certain adjustments allowed. See https://www.thebalance.com/alternative-minimum-tax-3192753 https://www.thebalance.com/alternative-minimum-tax-3192753
- throwawaysea 6y agoApparently my factual comment above deserved downvotes. Here is evidence of how Trump was able to legally reduce his taxes below AMT (carry forward): https://www.nytimes.com/2020/09/29/us/trump-750-taxes.html https://www.nytimes.com/2020/09/29/us/trump-750-taxes.html