Alternative Minimum Tax. Computation and MTC ISO Changes Planning Considerations. Example - 2009. Taxable income $106,650 Add backs: Personal exemptions 10,950 Taxes 16,000 Home equity interest 4,600 ISO 25,300 Subtotal $163,500
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Computation and MTC
AMT of $1,664 less AMT with only exclusion items $4,264 = negative $2,600. This is due to the negative depreciation adjustment of $10,000. Means that any MTC carryforward is reduced by $2,600.