[wakefern58]

The explanations for AMT questions are poorly written so could someone please clarify that I have the thought process right here. Your help is greatly appreciated!

For AMT – Med Expenses are allowable as itemized deductions for the amount that exceeds 10% of AGI. Med Expenses that do not exceed 10% of AGI are add backs. For Med Expense AMT purposes, the 10% of AGI threshold is for under 65 as well as 65+. So if a 65+ couple used the 7.5% of AGI limit for med expense to compute regular tax income, you would have to add back the remaining 2.5% of med expenses to reach 10% total for AMT purposes.

For AMT – Misc. Itemized Deductions are allowable for the expenses up to the first 2% of AGI. Misc. Itemized deductions exceeding 2% are add backs.

Do I have this right?

BEC - 77

AUD - 85

REG - TBD

FAR - Q2