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6251. Use of this worksheet demonstrates that petitioners should
have completed Form 6251.
Second, we observe that the AMT is imposed in addition to
the “regular tax”, which is, in general, the income tax computed
on taxable income by reference to the tax table or rate schedule.
Secs. 26(b), 55(a), (c)(1); see secs. 1(a)(1), 3(a). Petitioners
reported zero regular tax for 2002 on line 55 of their return.
Therefore, we now turn to section 55 that imposes the AMT.
The AMT is the difference between the “tentative minimum tax” and
the regular tax. Sec. 55(a). As relevant herein, the tentative
minimum tax is 26 percent of the excess of a taxpayer’s
“alternative minimum taxable income” over an exemption amount of
$49,000. Sec. 55(b)(1)(A)(i)(I), (b)(2), (d)(1)(A)(i).
As relevant herein, section 55(b)(2) defines alternative
minimum taxable income as the taxpayer’s taxable income for the
taxable year determined with the adjustments provided in section
56 and increased by the amount of items of tax preference
described in section 57.4 As previously stated, petitioners had
no items of tax preference in 2002. Therefore, the alternative
minimum taxable income is petitioners’ taxable income determined
with the adjustments provided in section 56.
4 As relevant herein, sec. 63 defines taxable income as
adjusted gross income less (1) Schedule A itemized deductions and
(2) personal exemptions.
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