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Corbett's AMTI is $600,000. What is his AMT exemption under the following alternative circumstances? Exhibit 8-5 EXHIBIT 8-5 2020 AMT Exemptions Filing Status Exemption Phase-Out
Corbett's AMTI is $600,000. What is his AMT exemption under the following alternative circumstances? Exhibit 8-5
EXHIBIT 8-5 2020 AMT Exemptions Filing Status Exemption Phase-Out Begins at This Level of AMTI Married filing jointly Married filing separately Head of household and single $113,400 56,700 72.900 $1.036.800 518.400 518.400 Phase-Out Complete for This Level of AMTI $1,490,400 745,200 810,000 a. He is married and files a joint return. Amount of AMT exemption b. He is married and files a separate return. Amount of AMT exemption c. His filing status is single. Amount of AMT exemption d. His filing status is head of household. Amount of AMT exemptionStep by Step Solution
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