About this Course
Topics covered include:
Calculation of the AMT, adjustments, and preferences;
Impact of the Tax Cuts and Jobs Act on the AMT;
Preparation of Form 6251;
Adjustment for state and local taxes and the home mortgage interest;
Investment interest expense;
Adjustments for depletion and net operating loss;
Treatment of stock;
Gain and loss from the disposition of property;
Depreciation;
Other adjustments and preference items;
20% deduction for qualified business income;
AMT exemptions and tax rates;
Impact of the AMT on estimated tax;
Avoiding or minimizing the AMT;
Tax credits that can offset the AMT.
Upon completing this course, you should be able to:
Discuss how the alternative minimum tax system works today;
List alternative minimum tax adjustments, tax preference items, and tax credits;
Explain planning strategies to minimize or avoid the AMT.