Ellen files as married filing jointly and has an alternative

Ellen files as married filing jointly and has an alternative minimum taxable income in 2015 of $140,000. What is her AMTI exemption?

a. $23,800

b. $41,700

c. $53,600

d. $83,400

Solution

The AMT exemption is an amount that a taxpayer is allowed to deduct from
alternative minimum taxable income before calculating the taxpayer’s AMT
liability. The exemption for a particular taxpayer depends on the taxpayer’s
filing status. To prevent upper-income taxpayers from benefiting from the AMT exemption,the exemption phases out after a taxpayer’s AMTI reaches a certain level, also based on the taxpayer’s filing status.

the 2015 exemption amounts are:

$53,600

hence,answer is B