34. b

In 2022, Nadia is single and has $100,000 of regular taxable income. She itemizes her deductions as follows: real property taxes of $1,500, state income taxes of $2,000, and mortgage interest expense of $10,000 (acquisition indebtedness of $200,000). In addition, she receives tax-exempt interest of $1,000 from a municipal bond (issued in 2006) that was used to fund a new business building for a (formerly) out-of-state employer. Finally, she received a state tax refund of $300 from the prior year.

Note: Amounts to be deducted should be indicated by a minus sign.

b-1. What is Nadia's AMTI this year if she deducted the standard deduction last year and did not owe any AMT last year?