What’s New

Alternative minimum tax (AMT) exemption amount in- creased. The AMT exemption amount is increased to $90,100 ($140,200 if married filing jointly or qualifying surviving spouse; $70,100 if married filing separately). The income level at which the AMT exemption begins to phase out has increased to $500,000 ($1,000,000 if married filing jointly; $500,000 if married filing separately).

Social security tax. For 2026, the maximum amount of earned income (wages and net earnings from self-employment) subject to the social security tax is $184,500.

Standard deduction. If you do not itemize your deductions, you may be able to take the standard deduction. The basic standard deduction has increased for 2026. See Standard Deduction (Group I Only) , later.

Taxable income. When calculating your taxable income, you may be eligible for certain deductions. See Lines 3 and 9, later.