Example 4: Unmarried taxpayers
A and B are joint owners of a house, each owning a 50% interest in the house.
(1) Providing that if multiple taxpayers Different rules for residing in the same unmarried taxpayers
principal place of create complexity abode are eligible and place unmarried to claim the same parents at a qualifying child, an disadvantage when otherwise eligible compared with other taxpayer may claim types of extended the EITC for workers family situations.
Personal Replaced with the Family Credit (I) available to all Exemptions taxpayers: $3,300 credit for married couples; $2,800 credit for unmarried taxpayers
with child; $1,650 credit for unmarried taxpayers
; $1,150 credit for dependent taxpayers; additional $1,500 credit for each child and $500 credit for each other dependent.
Married taxpayers Former Revised Exclusion Year threshold threshold ends 1993 $60,000 $68,250 $ 98,250 1994 $61,850 $70,350 $100,350 1995 $63,450 $72,150 $102,150 Unmarried taxpayers
Former Revised Exclusion Year threshold threshold ends 1993 $40,000 $45,500 $60,500 1994 $41,200 $46,900 $61,900 1995 $42,300 $48,100 $63,100
The AMT exemption was increased to $40,250 for unmarried taxpayers
, $58,000 for married filing jointly (MFJ) and $29,000 for married taxpayers filing separately.
In 2005, the AMT exemption reverts to the current amount of $45,000 for married couples filing a joint return and surviving spouses, $33,750 for unmarried taxpayers
(not surviving spouses), and $22,500 for married taxpayers filing separately.