2)Jackson, an unmarried taxpayer, qualified to itemize deductions. Jackson's adjusted gross income was $90,000 and he made a $20,000 cash donation directly to a needy family. During the year, Jackson also donated stock, valued at $30,000, to his church. Jackson had purchased the stock four months earlier for $15,000. What was the maximum amount of the charitable contribution allowable as an itemized deduction on Jackson's current year income tax return?

3)Walter swaps his warehouse for Sally's office building, and

the exchange qualifies as a like-kind exchange. Walter's adjusted basis for the

warehouse is $500,000 and the warehouse is subject to a liability of $150,000.

The FMV of Sally's office building is $740,000 and it is subject to a liability

of $95,000. Each asset is transferred subject to the liability. What is

Walter's recognized gain, if any, on the transaction; and what is his basis in

the office building?

8)During 2019, Linda suffered serious injuries in an automobile accident. She incurred the following costs as a result:

Doctor bills $15,700

Hospital bills 10,300

Physical therapy to recover full mobility 5,000

Transportation to/from hospital and doctor's office 200

Linda is single with no dependents. Her 2019 salary was $68,000.

She paid $1,000 in medical and dental insurance premiums, which were withheld

from her salary on an after-tax basis, $4,250 in mortgage interest on

acquisition indebtedness on her personal residence, and $1,500 in interest on

her car loan. She was reimbursed for $15,000 in medical expenses by her health

insurer. Calculate her 2019 taxable income.

10)Josephus, an unmarried taxpayer filing single with no dependents, has AGI of $1,200,000and reports the following items in 2019:

Taxable income$ 700,000

Tax preferences40,000

AMT Adjustments related to itemized deductions30,000

Regular tax liability$ 150,000

What is Josephus's AMT liability for 2019?