Question
35. In 2022, Deon and NeNe are married filing jointly. Deon and NeNe's taxable income is $1,090,000 (all ordinary), and they itemize their deductions as
35. In 2022, Deon and NeNe are married filing jointly. Deon and NeNe's taxable income is $1,090,000 (all ordinary), and they itemize their deductions as follows: real property taxes of $10,000, charitable contributions of $30,000, and mortgage interest expense of $40,000 ($700,000 acquisition debt for home). Use Exhibit 8-5 and Tax Rate Schedule for reference.
a. What is Deon and NeNe's AMT?
In 2022, Deon and NeNe are married filing jointly. Deon and NeNe's taxable income is $1,090,000 (all ordinary), and they itemize their deductions as follows: real property taxes of $10,000, charitable contributions of $30,000, and mortgage interest expense of $40,000 ($700,000 acquisition debt for home). Use Exhibit 8-5 and Tax Rate Schedule for reference.
a. What is Deon and NeNe's AMT?
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Broadcasting Finance In Transition
Authors: Jay G. Blumler, T. J. Nossiter
1st Edition
0195050894, 978-0195050899
