32. LO.2 Arthur Wesson, an unmarried individual who is age 68, has taxable income of $160,000 in...
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32. LO.2 Arthur Wesson, an unmarried individual who is age 68, has taxable income of
$160,000 in 2013. He has AMT positive adjustments of $40,000 and tax preferences of
$35,000.
a. What is Arthur’s AMT?
b. What is the total amount of Arthur’s tax liability?
c. Draft a letter to Arthur explaining why he must pay more than the regular income tax liability. Arthur’s address is 100 Colonel’s Way, Conway, SC 29526.
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Related Book For
South-Western Federal Taxation 2014 Corporations Partnerships Estates And Trusts
ISBN: 9781285424484
37th Edition
Authors: William H. Hoffman Jr., William A. Raabe, James E. Smith, David M. Maloney, James C. Young
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