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gmjanini
New Member

What is AMT special depreciation allowance deduction?

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1 Reply
KrisD15
Expert Alumni

What is AMT special depreciation allowance deduction?

Are you selling a business asset such as a vehicle? 

AMT is Alternative Minimum Tax. 

For some high income Taxpayers, they are required to adjust deductions, including the depreciation they can claim, in order to pay what the IRS considers a more proper higher tax. 

People that are subjected to this know it. 

If you have never been subjected to Alternative Minimum Tax (AMT) the depreciation would not have been reduced. 

In your case, whatever is reported as "regular" depreciation, would be the same amount for the AMT depreciation allowance. 

 

If this is for something other than a business asset, please explain further. 

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