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Corbett's AMTI is $600,000. What is his AMT exemption under the following alternative circumstances? Exhibit 8-5. EXHIBIT 3-5 2020 AMT Exemptions Filing Status Exemption Married
Corbett's AMTI is $600,000. What is his AMT exemption under the following alternative circumstances? Exhibit 8-5.
EXHIBIT 3-5 2020 AMT Exemptions Filing Status Exemption Married filing jointly Married filing separately Head of household and single $113,400 56,700 72.900 Phase-Out Begins at Phase-Out Complete for This Level of This Level of AMTI AMTI $1,036,800 $1.490.400 518.400 745,200 518,400 810,000 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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