Individual Alternative Minimum Tax Relief

For years 2001 through 2004, the alternative minimum tax exemption amounts are increased to:

  • $49,000 from $45,000 for married couples filing jointly and surviving spouses
  • $35,750 from $33,750 for other unmarried individuals
  • $24,500 from $22,500 for married couples filing separately, estates, and trusts

Beginning in 2005, the exemption amounts will revert to prior amounts.

KPMG Observation

The temporary increase in the individual alternative minimum tax exemption amount does not increase the point at which the exemption phases out.
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