This should take less than 5 minutes to complete since most individuals with earned income, itemized deductions and investment income need to enter fewer than 20 items.

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AMTIndividual analyzes the data you entered in step one and provides you with 2 summary reports :

• A side-by-side comparison of how each item is treated by the AMT and regular income, so you can clearly see what's pushing you in the AMT red zone.
• A side-by-side comparison of regular and AMT taxable income, as well as the tax due based on the relevant regular and AMT tax rate. (Tax tables based on your filing status-- married filing jointly, single, etc.--are included for reference.)

AMT reduction strategies are provided based on the results in Step 2. They include:

• An explanation of each AMT item that's affecting you and how it's treated differently by the regular and AMT tax
• Actionable strategies you can use to reduce your AMT bill
• Examples to illustrate the strategies and enhance your understanding

Click on "Planning Model" and you'll see the form fields are already filled out with the amounts entered in Step 1. Simply change the amounts based on your expected income, deductions and personal situation for the year. You'll immediately see:

• Whether you will have to pay the alternative minimum tax
• A side-by-side comparison of how each item is treated by the AMT and regular income, so you can clearly see what's pushing you in the AMT red zone
• A side-by-side comparison of regular and AMT taxable income, as well as the tax due based on the relevant regular and AMT tax rate. (Tax tables based on your filing status-- married filing jointly, single, etc.--are included for reference.)

The AMT Planning model is there to be used as much as you want. It's easy to change the data and get instant feedback so you can compare options to find the optimal tax scenario.

Best of all, the AMT planning model computes your expected taxable income and tax due for both the AMT and regular tax--so you'll be able to adjust your tax withholding if needed and avoid having to write a big check later.