I think AMT kicks in way less than $100,000 per single.
Anybody know the details on AMT?
The real answer is… it depends. Instructions for AMT are on page 39 of form 1040. The instructions can be confusing as hell.
By what definition isn’t it high income? Especially since in this context high income means “high enough that you can afford to pay a slightly higher tax rate”, not “high enough that you can afford to start your own country”. It’s more than 90-some percent of *household* incomes in the area,
Median income in San Diego is $63,400/yr. This means 50% of the people have higher incomes, 50% have lower incomes. To purchase a median priced house in San Diego (price $455,000), you need an income of $144,294 to support it. If you work in the ‘technology’ fields, there is a very good chance that your income is above $100,000/yr… therefore more than 90% of the households in San Diego don’t have incomes less than $100,000.
San Diego Housing Commission has it at median price of $472,000 income $100,000. I suspect their data is a little old because house prices have come down and interest rates have gone up.
Here are some interesting demographics on Carmel Valley. Median income $110,128, average $164,212 (some real high earners are skewing the statistics).
