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Special Enrollment Examination
Part 1SEE Part 1: Individuals✓Part 2SEE Part 2: BusinessesPart 3SEE Part 3: Representation, Practices and ProceduresSingle filer Gus has 2025 alternative minimum taxable income of $700,000. What is his AMT exemption?
The 2025 single exemption of $88,100 is reduced by 25% of AMTI over $626,350: 25% x $73,650 = $18,413. The exemption is $69,688. Source: IRC 55(d)(1)-(3); Rev. Proc. 2024-40 sec. 3.11. Tax year: 2025 (law as of 31 Dec 2025).
Using a 50% phase-out rate (the rate before TCJA was 25% too).
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