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deduction).”7 Sec. 63(a) (emphasis added). We conclude on the
basis of our plain reading of the unambiguous text of sections 55
and 63(a) that a computation of AMTI requires that a taxpayer
first compute its taxable income and then alter that amount (by
way of an adjustment or an increase) to reflect the items
described in the remainder of pt. VI, subch. A, ch. 1, subtit. A
(part VI).8 In fact, notwithstanding respondent’s invitation to
the Court to conclude that AMTI is calculated de novo, and
without regard to any calculation made for regular tax purposes,
our conclusion is on all fours with the manner in which
respondent requires taxpayers to report their calculations of
AMTI for Federal income tax purposes. See, e.g., Form 4626,
7 Congress provided the sole exception to this rule in sec.
63(b). See sec. 63(a). Section 63(b) provides:
(b) Individuals Who Do Not Itemize Their
Deductions.--In the case of an individual who does not
elect to itemize his deductions for the taxable year,
for purposes of this subtitle, the term “taxable
income” means adjusted gross income, minus--
(1) the standard deduction, and
(2) the deduction for personal
exemptions provided in section 151.
8 Part VI includes five sections, numbered and titled as
follows:
SEC. 55. Alternative Minimum Tax Imposed;
SEC. 56. Adjustments in Computing Alternative Minimum
Taxable Income;
SEC. 57. Items of Tax Preference;
SEC. 58. Denial of Certain Losses; and
SEC. 59. Other Definitions and Special Rules.
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