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For all the following cases, assume that taxable income does not include any dividend income or capital gain. Required: a. Compute AMT (if any) if
For all the following cases, assume that taxable income does not include any dividend income or capital gain. Required: a. Compute AMT (if any) if Mr. and Ms. Baker's, married filing jointly, reported taxable income of $200,000 and AMTI before exemption of $203,000. b. Compute AMT (if any) if Mr. Costa's, single taxpayer, reported taxable income of $177,300 and AMTI before exemption of $198,000. c. Compute AMT (if any) if Ms. Juma's, a single taxpayer, reported taxable income of $650,675 and AMTI before exemption of $795,000. Assume the taxable year is 2023. Use Individual Tax Rate Schedules. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Compute AMT (if any) if Ms. Juma's, a single taxpayer, reported taxable income of $650,675 and AMTI before exemption of $795,000. Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Enter "0" if taxpayer is not subject to AMT. Individual Tax Rate Schedules \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ Married Filing Jointly and Surviving Spouse } \\ \hline If taxable income is & The tax is \\ \hline Not over $22,000 & 10% of taxable income \\ \hline Over $22,000 but not over $89,450 & $2,200.00+12% of excess over $22,000 \\ \hline Over $89,450 but not over $190,750 & $10,294.00+22% of excess over $89,450 \\ \hline Over $190,750 but not over $364,200 & $32,580.00+24% of excess over $190,750 \\ \hline Over $364,200 but not over $462,500 & $74,208.00+32% of excess over $364,200 \\ \hline Over $462,500 but not over $693,750 & $105,664.00+35% of excess over $462,500 \\ \hline Over $693,750 & $186,601.50+37% of excess over $693,750 \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ Married Filing Separately } \\ \hline If taxable income is & The tax is \\ \hline Not over $11,000 & 10% of taxable income \\ \hline Over $11,000 but not over $44,725 & $1,100.00+12% of excess over $11,000 \\ \hline Over $44,725 but not over $95,375 & $5,147.00+22% of excess over $44,725 \\ \hline Over $95,375 but not over $182,100 & $16,290.00+24% of excess over $95,375 \\ \hline Over $182,100 but not over $231,250 & $37,104.00+32% of excess over $182,100 \\ \hline Over $231,250 but not over $346,875 & $52,832.00+35% of excess over $231,250 \\ \hline Over $346,875 & $93,300.75+37% of excess over $346,875 \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ Head of Household } \\ \hline If taxable income is & The tax is \\ \hline Not over $15,700 & 10% of taxable income \\ \hline Over $15,700 but not over $59,850 & $1,570.00+12% of excess over $15,700 \\ \hline Over $59,850 but not over $95,350 & $6,868.00+22% of excess over $59,850 \\ \hline Over $95,350 but not over $182,100 & $14,678.00+24% of excess over $95,350 \\ \hline Over $182,100 but not over $231,250 & $35,498.00+32% of excess over $182,100 \\ \hline Over $231,250 but not over $578,100 & $51,226.00+35% of excess over $231,250 \\ \hline Over $578,100 & $172,623.50+37% of excess over $578,100 \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ Single } \\ \hline If taxable income is & The tax is \\ \hline Not over $11,000 & 10% of taxable income \\ \hline Over $11,000 but not over $44,725 & $1,100.00+12% of excess over $11,000 \\ \hline Over $44,725 but not over $95,375 & $5,147.00+22% of excess over $44,725 \\ \hline Over $95,375 but not over $182,100 & $16,290.00+24% of excess over $95,375 \\ \hline Over $182,100 but not over $231,250 & $37,104.00+32% of excess over $182,100 \\ \hline Over $231,250 but not over $578,125 & $52,832.00+35% of excess over $231,250 \\ \hline Over $578,125 & $174,238.25+37% of excess over $578,125 \\ \hline \end{tabular}
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