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Carol reports taxable income of $48,000. Included in that calculation are the following items. Real estate taxes on her home $2,000 Mortgage interest on acquisition
Carol reports taxable income of $48,000. Included in that calculation are the following items.
Real estate taxes on her home $2,000
Mortgage interest on acquisition indebtedness 1,200
Charitable contribution 550
Carol also had excluded municipal bond interest income of $8,000, $3,000 of which was deemed to be private activity bond interest. What are Carols total alternative minimum tax (AMT) adjustments?
$1,200
$2,000
$3,000
$6,750
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