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Tax Rates on Capital Gains and Dividends Under the AMT

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Publication Date: March 2008

Publisher(s): Tax Policy Center

Author(s): Benjamin H. Harris; Christopher Geissler

Special Collection: John D. and Catherine T. MacArthur Foundation

Topic: Banking and finance (Taxation and tax policy)

Keywords: Tax Policy; Tax Distribution and Economic Trends; Taxation of Households; Individual Alternative Minimum Tax

Type: Report


Recent tax acts sharply lowered tax rates on long-term capital gains and dividend income. For millions of taxpayers, however, the alternative minimum tax limits the benefits from these cuts by increasing the effective marginal tax rates on capital gains and dividend income. The culprit is the phaseout of the AMT exemption.