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March 2, 2020
Question

Why is the system not included an exemption amount and a alt min tax amount this year for me ?

  • March 2, 2020
  • 1 reply
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1 reply

March 2, 2020

The Tax Cuts and Jobs Act Suspended the Personal Exemption Deduction for tax years beginning after December 31, 2017, and before January 1, 2026; for tax years 2018-2025.  Also under the Act, the alternative minimum tax (AMT) exemptions and exemption phaseout thresholds were increased significantly, so that could explain why you don't have an AMT showing.

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