Joachim's regular tax liability calculated on his 2023 Form 1040 is $451,890. Which of the following statements regarding the Alternative Minimum Tax (AMT) is TRUE?
1) The AMT is calculated based on Joachim's tentative minimum tax
2) The AMT is always higher than the regular tax liability
3) The AMT is not applicable to Joachim's tax situation
4) The AMT is calculated based on Joachim's adjusted gross income