SEE-1 - Taxation - Section 4.2

Calculate alternative minimum tax (AMT) for individuals, including AMT adjustments, preferences, and the AMT exemption phase-out.

Calculate alternative minimum taxable income (AMTI) by adding back AMT adjustments and tax preferences - such as the standard deduction, certain itemised deductions, and incentive stock option spreads - to regular taxable income. Apply the AMT exemption and its phase-out, compare tentative minimum tax against regular tax, and determine whether the AMT applies.

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