AMT Decision

Will you get hit by the Alternative Minimum Tax? The first step to find out is to fill out the AMT worksheet in Form 1040 instructions. The results of that worksheet will indicate if you have to file For 6251 (the AMT form).

This calculator presents a simplified version of that worksheet. While not definitive, it will give you a good idea on whether you might owe AMT.

2008 Tax and Income Information
Tax Filing Status:
All Your Income for tax Year: (This should be Line 22 of Form 1040)
Tax Refunds and Other Income included in line above: (this should be lines 10 and 21 of Form 1040)
All your deductions (HSA, IRA's, etc): (Line 36 of Form 1040)

Enter Total Itemized Deductions: (or leave 0 for standard deduction): (Line 28 of schedule A)
If you Itemize Deductions enter amount of Medical and Dental Expenses: (Line 1 of schedule A):
If you itemize deductions, enter State and Local Taxes included in Itemized Deductions: (Line 9 of Schedule A)
If you itemize deductions, enter Job and Miscellaneous Deductions included in Itemized Deductions: (Line 26 of Schedule A)

Total Personal Exemptions you will claim on your tax return: (Line 6d of Form 1040)
Foreign Tax Credits: (Line 47 of Form 1040)
Tax on Lump Sum Distributions: (Line 30 Form 4972)