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All data and information are in the pictures posted Wayne and Mary Sutherby are a married couple filing jointly. They have no children and report
All data and information are in the pictures posted
Wayne and Mary Sutherby are a married couple filing jointly. They have no children and report the following items in 2019: E (Click the icon to view the items reported in 2019.) Read the requirements. E (Click the icon to view the 2019 AMT exemption amounts.) Data Table (a) (b) Sutherby's AMT Wayne's AMT Taxable income 120,000 Tax preferences 19,000 AMT adjustments related to itemized deductions 34,000 Plus: 18,117 Regular tax liability Alternative minimum taxable income (AMTI) Done Print Minus: Alternative minimum tax base amount Tentative minimum tax Minus: Alternative minimum tax (AMT) Alternative Minimum Tax - 2019 If AMTI minus the The Tax Is: exemption amount is: Of the But Not Amount Over- Over- Over- 26% 194,800 * 2$ 194,800 194,800 * 50,648 * + 28% *$97,400 and $25,324 for married taxpayers filing separately. 2019 Basic 2019 Phaseout Exemption Threshold AMT exemption and phase-out amounts: 71,700 $ 510,300 Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing joint returns and surviving spouses 111,700 1,020,600 Married individuals filing separate returns 510,300 55,850 Step by Step Solution
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