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Not necessarily. The standard deduction is an adjustment item as well.

Some of the adjustment items are very common, while others only affect a small number of individual taxpayers. The items that are subject to adjustment  for AMT for individual taxpayers include:

• The limitation on overall itemized deductions.
• Miscellaneous itemized deductions subject to the 2% floor.
• Standard deduction and personal exemptions.
• Certain state, local and foreign taxes.
• Medical expenses.
• Certain interest (including home mortgage and investment interest).
• Incentive Stock Option (ISO) exercises
• Depreciation deduction.
• Mining exploration and development costs.
• Long-term contract expenses.
• Alternative tax net operating losses.
• Amortization deductions for pollution control facilities.
• Gain or loss on the disposition of property.
• Circulation expenses.
• Research and experimental expenses.

An individual taxpayer’s AMT adjustment items are added or subtracted in the calculation of AMTI on page 1 of Form 6251. These adjustments are discussed below.

AMT