The AMT limits your tax deductions as your income increases. You can review the instructions for IRS Form 6251. If you have TurboTax software on your PC (not online) you can estimate your tax liability based on income changes in the release for current tax year. Save a copy of your tax return for the current tax year. Then copy and save the file [Save As] with a new file name such as TY2017 Estimate. After that you can add the ISO stock transaction to the income section of your "Estimate" file. Search for AMT in the TurboTax application, and run the AMT test. Changes to your income and tax liability will appear on the top of the screen. Keep in mind that changes in the tax laws may affect your results. If you do not have the software locally, you can use the IRS AMT Assistant here:
https://www.irs.gov/businesses/small-businesses-self-employed/alternative-minimum-tax-assistant-for-...The AMT Assistant is being retired after the 2017 Tax Year.
