Gabriel, age 40, and Emma, age 33, are married with two dependents. They recorded AGI of $250,000 in 2019 that included net investment income of $3,000 and gambling winnings of $2,500. The couple the following expenses during the year (all of which resulted in itemized deductions for regular income tax purposes). Medical expenses (before 10%-of-AGI floor) $12,000 State income taxes 5,800 Real estate tax 9,100 Interest on personal residence Interest on home equity loan (proceeds were used to remodel the couple's kitchen) 18,600 9,800 4,500 14,200 Investment interest expense Charitable contributions (cash) If an amount is zero, enter "O". a. Enter Gabriel and Emma's regular income tax itemized deductions; AMT itemized deductions; the net amount of adjustments (if any) and if the adjustment is a positive or negative adjustment. Regular Income Tax AMT Purposes Amount of Adjustment Positive, Negative, or None Medical expenses State income and real estate taxes Interest on residence Interest (home equity) Investment interest Charitable contributions Totals b. Gabriel and Emma also earned interest of $5,000 on private activity bonds that were issued in 2015. They borrowed money to buy these bonds and paid interest of $3,900 on the loan. What is the effect on AMTI? The effect of this transaction is a tax preference of $ However, considering the transactions in part (a) as well as the transaction above, the taxpayers will have a total AMT adjustment of $