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 Form 8829 2015

2015-2025 Form

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Instructions and help about Form 8829

the alternative minimum tax or amt requires taxpayers to recalculate their income tax liability without the normal tax deductions and exemptions that they're usually allowed this way if a taxpayer's deductions drop their tax liability too much the amt kicks in and requires that additional tax be paid generally taxpayers reporting between 200 000 and 500 000 of adjusted gross income are more likely to pay the amt but people with incomes around a hundred thousand may also pay the amt if they claim a larger number of deductions now if you're one of the five million taxpayers hit hard by this tax there are several things you can do now to reduce the amt on this year's tax return first if you're self-employed consider claiming a home office deduction using form 8829 instead of the simplified option because it would allow you to deduct home related expenses that would otherwise be disallowed under the amt second the emt does not let you claim dependent

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