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63. (L02) In 2011, Janet and Ray are married filing jointly. They have five dependent children under 18 years of age. The couple's AGI is
63. (L02) In 2011, Janet and Ray are married filing jointly. They have five dependent children under 18 years of age. The couple's AGI is $180,000 and their taxable income is $140,000. They itemize their deductions as fol- lows: real property taxes of $5,000, state income taxes of $9,000, and mortgage interest expense of $15,000 (not a home-equity loan). What is Janet and Ray's AMT? please, explain from where you got the numbers
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Horngrens Accounting The Managerial Chapters
Authors: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
11th Global Edition
1292105879, 978-1292105871
