the AMT. Because the AMT is used to force some minimal tax, therefore, AMT would not allowed someone pay less than the regular rate. This is the regular rate:
- 10%on taxable income from $0 to $17,000, plus
- 15%on taxable income over $17,000 to $69,000, plus
- 25%on taxable income over $69,000 to $139,350, plus
- 28%on taxable income over $139,350 to $212,300, plus
- 33%on taxable income over $212,300 to $379,150, plus
- 35%on taxable income over $379,150.
Keep in mind that the first 74450 is not subject to AMT, and part of your number (X) covers this 74450.