Question
4. In 2019, Maia (who files as a head of household) reported regular taxable income of $115,000. She itemized her deductions, among them deductions of
4. In 2019, Maia (who files as a head of household) reported regular taxable income of $115,000. She itemized her deductions, among them deductions of $8,000 in charitable contributions and $3,000 in state income taxes. What is Maias alternative minimum taxable income?
a, $115,000
b, $118,000
c, $123,000
d, $126,000
17, Individual taxpayers are not required to file a tax return unless their gross income passes a certain threshold. This threshold is generally the ________.
a, applicable standard deduction amount
b, AMT exemption amount
c, twice the applicable standard deduction amount
d, applicable standard deduction amount plus the personal exemption amount
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