14. Julio, an unmarried taxpayer filing single with no dependents, has AGI of $680,000 and reports the following items in

2020:

( view the items reported in 2020.)

Data table

Taxable income	$530,000
Tax preferences	47,000
AMT adjustments related to itemized deductions	41,000
Regular tax liability	160,527

( view the 2020 AMT exemption amounts.)

Reference

Alternative Minimum Tax - 2020
If AMTI minus the
exemption amount is:		The Tax Is:
						Of the
	But Not					Amount
Over-	Over-					Over-
$0	$197,900	*			26%	$0
197,900	*		$51,454	* +	28%	$197,900
*$98,950 and $25,727 for married taxpayers filing separately.
								2020 Basic	2020 Phaseout
AMT exemption and phase-out amounts:		Exemption	Threshold
Unmarried individuals (other than surviving spouses and heads of households)		$72,900	$518,400
Married individuals filing joint returns and surviving spouses		113,400	1,036,800
Married individuals filing separate returns		56,700	518,400

Requirement

What is Julio's AMT liability for 2020?

Part 1

Begin by computing Julio's alternative minimum tax base amount for 2020.

(Do not round intermediary calculations, only round the amounts you enter into the input cell to the nearest whole dollar.)

Plus:
Alternative minimum taxable income (AMTI)
Minus:
Alternative minimum tax base amount

Part 2

Complete the table below to determine Julio's AMT liability for 2020.

(Do not round intermediary calculations, only round the amounts you enter into the input cell to the nearest whole dollar. Enter a "0" if Julio does not have an AMT liability.)