[misoc23]

Im working on AMT in regards to individual taxation and I am having a tough time with the calculations. What does or does not get added back. Im confused with the adjustments (+ or -) and then the itemized deductions (always added to regular taxable income. Not getting anywhere with Becker or Ninja book as of right now. Any help is appreciated!

[Anonymous]

it is. I would look up videos on the subject in youtube. It helped a little bit especially as you study it more. I wouldnt worry about it too much though…its not as important as other topics in REG

[More_Coffee]

It's not just you! That was one of my weak areas that I had to go through over and over again… the mnemonics Becker gives you are useful, but they don't really help you with applying them… 🙁 The Youtube videos sound like a good idea though.

REG - 86 (4/11/15)
BEC - 92 (5/29/15)
AUD - 99 (7/23/15)
FAR - 89 (11/23/15) It's over!!!
>> Becker Self Study

[rana_cali]

It's very confusing. There's a video on youtube that Jeff made to explain AMT. Look it up…he simplifies it pretty well!

AUD: 84
FAR: 75
BEC: 78
REG: 75

DONE-ZO!!!!!!!!

REG: Used Becker 2014 book, NINJA MCQ, Ninja notes, ninja audio
_______________________________
CFE since Oct. 2013.

[Anonymous]

Everyone hates AMT but it's something you really need to know for the exam. After you pass you can, safely, forget all of it.

[texashect]

Yeah, you can almost bet on having an AMT question on your exam, whether it's corporate or individual!

REG - 82
AUD - 83
FAR - 84
BEC - 81

DONE!

[tcheney3]

It's intimidating at first, but if you really think about it conceptually, it makes sense. AMT is just designed to reduce deductions for high income taxpayers in areas that aren't necessities. For example you don't add back medical expenses (I guess you do add back the difference between the 7.5% and the 10%), but you do add back real estate taxes. Think through it logically and with some light memorization you will be fine.

BEC - 82
REG - 86
FAR - 85
AUD - 84 and I'm out!!!!!
Ethics - 95
In Skynet's Honor:
Act I: Shutdown Skynet and prevent Judgment Day.
Act II: Add a comma and three letters to my title.
Act III: Time Travel and marry a young Denise Richards (and prevent subsequent plastic surgery),return to present.
Act IV: Serve as Successor to Elon Musk as CEO of Tesla.
Act V: Ensure Judgment Day has been stopped. Utopia achieved.

[Anonymous]

Nope, it's not just you. Individual AMT is pretty confusing. Corporate AMT even more so..

[Anonymous]

That was my weak area as well. The most important pieces are remembering what is added, what is subtracted, and what is not counted. They will likely throw in some “adjustments” that aren't actually adjustments just to throw you off.

[Wannafree]

You are not alone .I had used Becker's Homework and that helped me a lot to clarify the confuson.My another suggestion regarding AMT , please imagine that whole big question of Becker will not be asked in MCQ ,accordingly you slice and dice the question into smaller parts.Try to solve some questions on AMT and then you would see it's doable in exam.

[cpa1982]

You are not the only one. Both individual and corporate AMT are confusing. I have read many times and still make alot mistakes during calculations. I have hard time remembering what is adjustment and preferences and what things should add back and what's not. overall AMT sucks big time.

[Yolonge]

AMT is such a small topic, you are expected to get no to very little question on it. I only tried to understand the logic and key items, but that was it. Do not sweat over AMT, it is very likely you will see 0 or 1-2 questions on it.

Materials: Wiley book + Ninja MCQ

FAR - 83 (Jan 2016)
Study time: 6 weeks
BEC - 87 (April 2016)
Study time: 2 weeks
AUD - 92 (July 2016), (74 Feb 2016), (72 May 2016)
Study time: 4 (Feb) + 2 (May) + 3 (July) = 9 weeks total
REG - (70 April 2016)
Study time: 3 weeks

[Skynet]

AMT should be referred to as “Another Mindnumbing Tax” topic, because that was what it was. Mindnumbing while to study for as well as confusing too.

[aaronmo]

AMT is, conceptually, very easy…it just turns into memorizing what goes back into the gumbo. Focus on the word alternative.

All it is is an adjustment to deductions…where stuff gets added back into the gumbo…and then running some fairly simple formulas. It's basically memorization of form and components. Use whatever memorization techniques work for you…

The only confusing part for me was the different kinds of depreciation, but I doubt they'd test that conceptually. Memorizing which deductions go back into the gumbo should, IMO, be enough. I had just a few questions on AMT as I recall…and they were fairly basic. I'd also understand that AMT is, in future years, a credit. I don't remember how that part works now, but I knew it the day I took the exam.

[Anonymous]

I didn't study AMT at all, which is probably why I only made a 79 on REG.

[Author]

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