Quotes About AMT

Rather than showing themselves to be an ally to the middle class by ending the AMT or repealing it for years to come, my Republican colleagues refused to include it in today's legislation and America's middle class will surely suffer that choice greatly.

The A.M.T. is a parallel system for calculating tax liability intended to ensure that high-income taxpayers pay a substantial amount in federal tax even if they have large deductions or other items to offset income.

Losses from partnerships and limited-liability companies, the entities through which the Trumps report much of their income, do not have to be added back as part of the A.M.T. calculation.

Go to Part IV of Schedule I to figure line 52 if the estate or trust has qualified dividends or has a gain on lines 18a and 19 of column (2) of Schedule D (Form 1041) (as refigured for the AMT, if necessary).

The A.M.T. is much reviled by tax experts across the political spectrum for its unintended consequences and fiendish complexity.