rp-18-22.pdf

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26 CFR 601.602: Tax forms and instructions.
(Also Part I, §§ 42, 55.)

Rev. Proc. 2018-22

# SECTION 1. PURPOSE

This revenue procedure modifies and supersedes section 3.08 of Rev. Proc.
2018-18, 2018-10 I.R.B. 392, to reflect the statutory amendment by section 102, of
Division T, of the Consolidated Appropriations Act, 2018, P.L. 115-141 (H.R. 1625) to
increase the state housing credit ceiling. This revenue procedure also modifies and
supersedes section 3.10 of Rev. Proc. 2018-18 to correct the alternative minimum tax
phaseout threshold amount for estates and trusts.

SECTION 2. MODIFICATION OF SECTION 3.08 and SECTION 3.10 OF REV. PROC.
2018-18

Section 3.08 of Rev. Proc. 2018-18 is modified and superseded to read as
follows:

.08 Low-Income Housing Credit. For calendar year 2018, the amount used under
§ 42(h)(3)(C)(ii) to calculate the State housing credit ceiling for the low-income housing
credit is the greater of (1) $2.70 multiplied by the State population, or (2) $3,105,000.

Section 3.10 of Rev. Proc. 2018-18 is modified and superseded to read as
follows:

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## 10 Exemption Amounts for Alternative Minimum Tax. For taxable years beginning in 2018, the exemption amounts under § 55(d)(1) are:

Joint Returns or

$109,400

Surviving Spouses

Unmarried Individuals (other than

$70,300

Surviving Spouses)

Married Individuals Filing Separate

$54,700

Returns

Estates and Trusts

$24,600

For taxable years beginning in 2018, under § 55(b)(1), the excess taxable income
above which the 28 percent tax rate applies is:

Married Individuals Filing Separate Returns

$95,550

Joint Returns, Unmarried Individuals (other

than surviving spouses), and Estates and Trusts

$191,100

For taxable years beginning in 2018, the amounts used under § 55(d)(3) to determine
the phaseout of the exemption amounts are:

Joint Returns or

$1,000,000

Surviving Spouses

Unmarried Individuals (other than

$500,000

Surviving Spouses)

Married Individuals Filing Separate

$500,000

Returns

Estates and Trusts

$81,900

# SECTION 3. EFFECT ON OTHER DOCUMENTS

This revenue procedure modifies and supersedes sections 3.08 and 3.10 of Rev.

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Proc. 2018-18, which modified and superseded certain sections of Rev. Proc. 2017-58,
2017-45 I.R.B. 489.

# SECTION 4. EFFECTIVE DATE

Sections 3.08 and 3.10 of Rev. Proc. 2018-18 are modified and superseded for
taxable years beginning in 2018.

# SECTION 5. DRAFTING INFORMATION

The principal author of this revenue procedure is William Ruane of the Office of
Associate Chief Counsel (Income Tax & Accounting). For further information regarding
this revenue procedure, contact Mr. Ruane at (202) 317-4718 (not a toll-free call).