LO.2, 3, 4 Jerry, who is single with no dependents and does not itemize, provides you with

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LO.2, 3, 4 Jerry, who is single with no dependents and does not itemize, provides you with the following information for 2012:

Short-term capital loss $ 7,000 Long-term capital gain 25,000 Municipal bond interest received on private activity bonds acquired in 1997 9,000 Dividends from Procter & Gamble 2,300 Excess of FMV over cost of ISOs (the rights became freely transferable and not subject to a substantial risk of forfeiture in 2012) 35,000 What is the total amount of Jerry’s tax preference items and AMT adjustments for 2012?

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