Plain Language of Change:
- Individual exemption amounts and phaseout thresholds are temporarily increased from January 1, 2018 until December 31, 2025
- New exemption amounts are:
- $109,400 for married filing joint & surviving spouses;
- $70,300 for single and head of household
- $54,700 for married filing separately
- Exemption amount phases out at 25% for each dollar over $1 million for married filing joint and surviving spouses or $500,000 for all others.
- Exemption amounts & phaseout thresholds for estate and trusts are not impacted.
- Amounts adjusted annually for inflation
Detailed Analysis of AMT for Individuals
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