What are AMT rates?

What are AMT rates?

The AMT is levied at two rates: 26 percent and 28 percent. The AMT exemption amount for 2022 is $75,900 for singles and $118,100 for married couples filing jointly (Table 3). In 2022, the 28 percent AMT rate applies to excess AMTI of $206,100 for all taxpayers ($103,050 for married couples filing separate returns).

What was the exemption amount for 2014?

$3,950
Personal Exemptions. The personal exemption amount is $3,950 in 2014, up from $3,900 in 2013.

What was the standard deduction for mortgage interest under the 2014 US tax code?

Transcribed image text: The standard deduction for mortgage interest under the 2014 U.S. tax code is: $5,900 for single individuals and $11,800 for married couples filing jointly $12,600 for single individuals and $6,300 for married couples filing jointly $6,300 for single individuals and $12,600 for married couples …

What is the Alternative Minimum Tax (AMT) exemption for 2014?

Alternative Minimum Tax (AMT) Exemptions. The AMT exemption amount for tax year 2014 is $52,800 for individuals and $82,100 for married couples filing jointly.

What are the 2014 income tax brackets and rates?

Income Tax Brackets and Rates. In 2014, the income limits for all brackets and all filers will be adjusted for inflation and will be as follows (Table 1).[1] The top marginal income tax rate of 39.6 percent will hit taxpayers with an adjusted gross income of $406,751 and higher for single filers and $457,601 and higher for married filers.

What is the Amt and why is it in this list?

In years past, the AMT was subject to a last minute scramble by Congress to “patch” the exemption but as part of the American Taxpayer Relief Act of 2012 (ATRA), the AMT is permanently adjusted for inflation – that’s why you see it in this list. Earned Income Tax Credit (EITC).

What are the income limits for 2014 tax returns?

In 2014, the income limits for all brackets and all filers will be adjusted for inflation and will be as follows (Table 1). The top marginal income tax rate of 39.6 percent will hit taxpayers with an adjusted gross income of $406,751 and higher for single filers and $457,601 and higher for married filers.