Jaclyn Biggs, who files as a head of household, never paid AMT before 2019. In 2019, her
Question:
Jaclyn Biggs, who files as a head of household, never paid AMT before 2019. In 2019, her regular tax liability was $102,220 which included $39,900 capital gain taxed at 20 percent, and her AMTI in excess of her exemption amount was $422,500. Compute Jaclyn’s total income tax for 2019.
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Regular tax 102220 Taxable AMTI 422500 Tentative minimum tax 194800 ...View the full answer
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Related Book For
Principles Of Taxation For Business And Investment Planning 2020
ISBN: 9781259969546
23rd Edition
Authors: Sally Jones, Shelley Rhoades Catanach
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