Question
Ashby, who is single and age 30, provides you with the following information from his financial records for 2020. Regular income tax liability $78,045 AMTI
Ashby, who is single and age 30, provides you with the following information from his financial records for 2020.
| Regular income tax liability | $78,045 |
| AMTI | 525,000 |
| Taxable income | 295,000 |
Calculate his AMT exemption for 2020.
| a. | $72,900 | |
| b. | $71,250 | |
| c. | $0 | |
| d. | $1,650 |
I chose A. It was wrong but I would like to know what the correct answer was.
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Fair Value Measurement Practical Guidance And Implementation
Authors: Mark L. Zyla
3rd Edition
1119191238, 9781119191230
