• Account Management
  • Update Firm Information
  • Update Addresses
  • Update Login Information
• PPR/ EF Activity
  • Increase PPR Balance
  • Client E-File Status
  • SBBT Funding Status
• Product Information
  • Download Products
  • Order Status
  • Product Licensing
  • Release Dates
• Support
  • Support Home
  • Top Support Topics
  • Newsletters
  • Phone Support

ProSeries Frequently Asked Questions

Tax Planner AMT Exemptions Are Less in 2007 Due to Tax Law Changes

Products Affected:

• ProSeries/1040
• ProSeries Express/1040

The Tax Planner uses lower Alternative Minimum Tax (AMT) exemption amounts for 2007 than for 2006. This is due to tax law changes that became effective on January 1, 2007.

More information on the AMT changes can be found in Publication 553, page 10. Below is the section of the publication that references AMT exemptions:

"AMT exemption amount decreased. The AMT exemption amount has decreased to $33,750 ($45,000 if married filing jointly or qualifying widow(er); $22,500 if married filing separately)."

Publication 553 also outlines other changes such as standard mileage rates and earned income credit rates.

Did this information help you? Yes     No Does Not Apply     Comments about this page:   Note: You will not receive a personal response to your comment.