What is the alternative minimum tax amount Jake owes?

The alternative minimum tax (AMT) is a separate tax calculation designed to ensure that individuals pay at least a minimum amount of tax, regardless of deductions and credits that could significantly reduce their taxable income under the regular tax system.

In Jake's case, if the answer indicates that he owes $0 as an AMT amount, it suggests that his income, after accounting for AMT adjustments and preferences, falls below the threshold where AMT applies. This means that his regular tax liability is equal to or greater than any calculated AMT.

For many taxpayers, the AMT exemption amounts, which can reduce taxable income for AMT purposes, result in no AMT being owed, especially if they do not have certain types of income or deductions that are subject to AMT adjustments. Therefore, if Jake's financial situation aligns such that his tax liability meets or exceeds the requirements set by the AMT rules, then he would not owe any additional AMT above his regular tax liability, resulting in an AMT amount of $0.