Question: Alice and Frank have the following items on their current-year tax return: Determine the amount of the adjustments that Alice and Frank will have to

Alice and Frank have the following items on their current-year tax return:

Determine the amount of the adjustments that Alice and Frank will have to make in computing their alternative minimumtax.

Adjusted gross income Less: Deductions from adjusted gross income $100,000 Medical expenses Less: 7.5% $100,000 Home mortgage interest Home equity loan interest State income ta xes Property taxes Charita ble contributions (cash) Miscellaneous itemized deductions Less: 290 $100,000 S 7,950 7,500 S450 5,300 1,200 2,325 950 575 2,400 (2,000) 400(11,200) (7,400) Less: Exemptions (2 x $3,700)

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