Originally Posted by
bugman61
Not to go down a rabbit hole, but it’s surprising that you had your taxes go up under TCJA, as it was a very narrow group of people that would happen to. For me it was a huge decrease. Removal of the “marriage penalty” and adjusting the AMT made my actual taxes go down significantly. Under the previous code many of my deductions were already useless due to the AMT. TCJA eliminated much of my SALT deductions and all the job expenses, but my effective rate still went way, way down.
Originally Posted by
HelloNewnan
The AMT obliterated me year after year, for several years. It wasn't indexed in any meaningful way, and made all the small deductions irrelevant. I personally saw a significant decrease.
Same here. Reindexing AMT has lowered taxes for me tremendously.
If we revert to the old AMT threshold, a lot of you better be ready to pay 28% with little deductions.