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Can everyone help me with this question? Kevin reported several tax preference items in taxable income in 2019. The normal federal tax in 2019 was
Can everyone help me with this question?
Kevin reported several tax preference items in taxable income in 2019. The normal federal tax in 2019 was $35,000 and the alternative minimum tax (AMT) was $52,000. In 2020 Niko earned only employment income, and the normal tax for the year was $25,000.
Required:
A. Determine the total actual taxes paid for 2019.
B. Determine the total actual taxes paid for 2020.
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