From Carol McAtee’s CPA firm in St. Petersburg, FL-
7. AMT Exemption Increased
For tax-year 2011, the alternative minimum tax exemption increases to the following levels:
- $74,450 for a married couple filing a joint return and qualifying widows and widowers, up from $72,450 in 2010.
- $37,225 for a married person filing separately, up from $36,225.
- $48,450 for singles and heads of household, up from $47,450.
ANY TAX ADVICE IN THIS COMMUNICATION IS NOT INTENDED OR WRITTEN TO BE USED, AND CANNOT BE USED, BY A CLIENT OR ANY OTHER PERSON OR ENTITY FOR THE PURPOSE OF (i) AVOIDING PENALTIES THAT MAY BE IMPOSED ON ANY TAXPAYER OR (ii) PROMOTING, MARKETING OR RECOMMENDING TO ANOTHER PARTY ANY MATTERS ADDRESSED HEREIN.
