Alternative Minimum Tax AMT adjustments For most taxpayer AMTI adjustments represent itemized deductions that are not allowed in com puting AMTI Only certain itemized deductions allowed for AMt purposes Casualty and theft loss in excess of 10% of AGi Charitable contributions Medical expenses in excess of 10% ofAG Qualified housing interestAlternative Minimum Tax • AMT adjustments – For most taxpayer AMTI adjustments represent itemized deductions that are not allowed in computing AMTI – Only certain itemized deductions allowed for AMT purposes • Casualty and theft loss in excess of 10% of AGI • Charitable contributions • Medical expenses in excess of 10% of AGI • Qualified housing interest