Question
1.Ashby, who is single and age 30, provides you with the following information from his financial records for 2019. Regular income tax liability $47,228 AMT
1.Ashby, who is single and age 30, provides you with the following information from his financial records for 2019.
Regular income tax liability
$47,228
AMT positive adjustments
40,000
AMT preferences
20,000
Regular taxable income
648,600
Calculate his AMT exemption for 2019.
a.
$0.
b.
$34,575
c.
$37,125.
d.
$71,700.
e.
None of the above.
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Financial Accounting
Authors: W Steve Albrecht, Earl K Stice
11th Edition
0538746955, 9780538746953
