Alternative Minimum Tax for Individuals

Study Level: Basic
Delivery Method: Online self-study
Provider of Record: WebCE
Field of Study: Taxes

Students taking this course shoud be familiar with:

  • the concept and application of Form 1040 deductions, adjustments to income and individual tax credits
  • the calculation of itemized deductions on Form 1040 Schedule A

Course Description:
The alternative minimum tax (AMT) system is a parallel tax system, requiring the application of the AMT rates to a broader tax base than the regular taxable income.

This course presents a comprehensive review of the computation of the individual AMT. Although all of the preferences and adjustments are listed, only the itemized deduction adjustment is reviewed in detail.

Learning Objectives:
Upon completion of this course, students will be able to:

  • identify the purpose and principles underlying the basic application of the AMT to individuals
  • identify the taxpayers subject to the AMT
  • identify the tax formula for the AMT
  • identify the levels of income and adjustments that generally result in the AMT
  • determine the AMT adjustment for itemized deductions for an individual taxpayer
  • identify the other AMT adjustments and preferences for an individual taxpayer
  • recognize the AMT rates for an individual taxpayer
  • determine the AMT exemption amount for an individual taxpayer

Revised 3/2017

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