Extension of increased alternative minimum tax exemption amounts and modification of phaseout thresholds

(a) In general Section 55(d)(4) is amended— (1) in subparagraph (A), by striking, and before January 1, 2026, and (2) by striking and before 2026 in the heading. (b) Modification of inflation adjustment Section 55(d)(4)(B) is amended— (1) by striking 2018 and inserting 2018 (2026, in the case of the $1,000,000 amount in subparagraph (A)(ii)(I)), and (2) by striking determined by substituting calendar year 2017 for calendar year 2016 in subparagraph (A)(ii) thereof. and inserting “determined by substituting for ‘calendar year 2016’ in subparagraph (A)(ii) thereof— (1) calendar year 2017, in the case of the $109,400 amount in subparagraph (A)(i)(I) and the $70,300 amount in subparagraph (A)(i)(II), and (2) calendar year 2025, in the case of the $1,000,000 amount in subparagraph (A)(ii)(I).. (c) Modification of phaseout amount Section 55(d)(4)(A)(ii) is amended by striking and at the end of subclause (II), and by adding at the end the following new subclause: (IV) by substituting 50 percent for 25 percent, and. (d) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2025.