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URL:https://www.learndesk.us/class/5029845165670400/lesson/1031b3d3080443b22156b7b78b8d35de?ref=outlook-calendar
SUMMARY:Tax Overview Topics
DTSTART;TZID=America/Los_Angeles:20260517T190000
DTEND;TZID=America/Los_Angeles:20260517T200000
LOCATION:https://www.learndesk.us/class/5029845165670400/lesson/1031b3d3080443b22156b7b78b8d35de?ref=outlook-calendar
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Please watch the video below regarding the taxation of cryptocurrencies (Virtual Currencies) and subscribe to the channel if you have not already done so.
The Alternative Minimum Tax (AMT)
The Alternative Minimum Tax (AMT) has been around since 1960 and was designed to assure that high-income taxpayers with many tax deductions pay at least a minimum amount of tax. It does so by limiting the number of deductions that can be taken if a taxpayer's income is within a certain range. For 2020, individual taxpayers have an AMT exemption that is increased to $72,900. Married taxpayers filing jointly have an exemption amount of $113,400. Married taxpayers who file separately have an exemption amount of $56,700.Form 6251 is used to calculate the tax and illustrates the exemption amounts. You can see a portion of Form 6251 below. The basics are that a married taxpayer can make up to $1,036,800 before being subject to the alternative minimum tax.
Download AMT Exemptions.png
Achieving a Better...

https://www.learndesk.us/class/5029845165670400/lesson/1031b3d3080443b22156b7b78b8d35de?ref=outlook-calendar
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