AMT Exemption

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August 25, 2024 3 min read Definitions

Exemption: Deduction for Taxpayers Based on Status or Circumstances

Taxes Finance Exemption Tax Deduction Personal Exemption Homestead-Exemption AMT Exemption

An Exemption refers to a deduction allowed a taxpayer due to their status or circumstances, which reduces taxable income. Common examples include personal exemptions, homestead exemptions, and exemptions under the Alternative Minimum Tax (AMT).

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