Taxpayers are not allowed to deduct personal or dependency exemptions for alternative minimum tax purposes.

Question

Quizplus · Accepted Answer

This is true. The alternative minimum tax (AMT) system does not allow for personal or dependency exemptions, which are deductions that taxpayers can typically claim on their regular tax return. Under the AMT, taxpayers instead receive a flat exemption amount that is gradually phased out at higher income levels.

Taxpayers Are Not Allowed to Deduct Personal or Dependency Exemptions