The Alternative Minimum Tax is a parallel system developed more than 40 years ago by Congress to make sure the wealthy paid at least some income tax. But because the AMT was never indexed for inflation, it increasingly ensnares many middle-class Americans. Knowing whether you’re likely to be snagged by the AMT can help guide your year-end tax planning.



Try our calculator below. Enter:

• What you expect your 2011 taxable income to be (use line 43 from last year’s 1040 if you had no big changes in income this year.)
• How many exemptions you will claim for yourself and your dependents.
• Whether you choose the standard deduction or itemize deductions