Exemption Worksheet

If line 21 (AMTI) is equal to or more than $697,870 if single or head of household; $930,498 if married/RDP filing jointly or qualifying surviving spouse/RDP; $465,231 if married/RDP filing separately, your exemption amount is zero. Do not complete this worksheet; instead, enter -0- on line 22.

Enter $90,048 if single or head of household; $120,065 if married/RDP filing jointly or qualifying surviving spouse/RDP; $60,029 if married/RDP filing separately

Enter your AMTI from Schedule P (540), Part I, line 21

Enter $337,678 if single or head of household; $450,238 if married/RDP filing jointly or qualifying surviving spouse/RDP; $225,115 if married/RDP filing separately

Subtract line 3 from line 2. If zero or less, enter -0-

Multiply line 4 by 25% (.25)

Subtract line 5 from line 1. If zero or less, enter -0-. If any of the three conditions under "Certain Children Under Age 24" apply to you, go to line 7. Otherwise, enter this amount on Schedule P (540), Part II, line 22 and complete Schedule P (540)

Minimum exemption amount for certain children under age 24 $9,450.

Enter your earned income*, if any.

Add line 7 and line 8.

Enter the smaller of line 6 or line 9 here and on Schedule P (540), Part II, line 22

*Earned income includes wages, tips, and other payments received for personal services performed.