Your 2020 Guide to the Alternative Minimum Tax
The alternative minimum tax, or AMT, is a second method of calculating federal income tax liability. The simple explanation of why the AMT exists is to ensure that high-income individuals with lots of itemized deductions pay their fair share of taxes.
With that in mind, here's a quick guide to how the AMT works, how much you might have to pay if the AMT affects you, and why it probably won't affect you in 2020.
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Source Fool.com
