Examlex
AMTI
Alternative Minimum Taxable Income, calculated by adjusting the regular taxable income with specific preference items and adjustments.
Exemption Amount
A specific dollar amount that taxpayers can claim for themselves and their dependents to reduce taxable income before computing the income tax owed.
Joint Tax Return
A combined tax return filed by married couples or civil partners, allowing them to report their incomes, exemptions, and deductions together.
Limited Partnership Loss
Refers to financial losses within a limited partnership, impacting the tax liabilities and capital accounts of the partners involved.
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