Bonnie, who is single and itemizes deductions, reports a zero taxable income for 2022 . She incurs positive timing adjustments of $200,000 and AMT exclusion items of $100,000 for the year. Click here to access exemption tables. If required, round your answers to the nearest dollar. If an amount is zero, enter "0". a. Compute Bonnie's AMTI and AMT. Feedback Check My Work It is important to understand the role of the AMT credit in the alternative minimum tax structure. Timing differences give rise to adjustments to the minimum tax base. In later years, the timing differences reverse. To provide equity for the taxpayer when timing differences reverse, the regular tax liability may be adjusted by a tax credit for prior years' minimum tax liability attributable to timing differences. b. Compute the amount of Bonnie's AMT credit for carryover to 2023 . AMT without timing adjustments Taxable income $0 Plus: AMT exclusion items AMTI Less: AMT exemption AMT base Tentative minimum tax Less: regular tax liability AMT Credit carryover computation AMT Less: AMT without timing adjustments AMT credit carryover Bonnie, who is single and itemizes deductions, reports a zero taxable income for 2022 . She incurs positive timing adjustments of $200,000 and AMT exclusion items of $100,000 for the year. Click here to access exemption tables. If required, round your answers to the nearest dollar. If an amount is zero, enter "0". a. Compute Bonnie's AMTI and AMT. Feedback Check My Work It is important to understand the role of the AMT credit in the alternative minimum tax structure. Timing differences give rise to adjustments to the minimum tax base. In later years, the timing differences reverse. To provide equity for the taxpayer when timing differences reverse, the regular tax liability may be adjusted by a tax credit for prior years' minimum tax liability attributable to timing differences. b. Compute the amount of Bonnie's AMT credit for carryover to 2023 . AMT without timing adjustments Taxable income $0 Plus: AMT exclusion items AMTI Less: AMT exemption AMT base Tentative minimum tax Less: regular tax liability AMT Credit carryover computation AMT Less: AMT without timing adjustments AMT credit carryover