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At your income level, you need to calculate your AMT as well as your ordinary tax, because you will end up paying whichever is greater

Does AMT affect people who are W2 employees? I thought it was for self-employed or equivalent 1099-income earners. Why would I have to worry about AMT if my tax liability is covered through withholding from my paycheck?

You thought wrong. AMT does not care (as if it were a person) where your income comes from, just how much income you have and how much tax you owe. AMT affects many W-2 income employees who own a home and live in a high-income tax location like NYC.

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