Question
In 2015, Deon and NeNe are married filing jointly. They have three dependent children under 18 years of age. Deon and NeNes AGI is $815,800,
In 2015, Deon and NeNe are married filing jointly. They have three dependent children under 18 years of age. Deon and NeNes AGI is $815,800, their taxable income is $740,800, and they itemize their deductions as follows: real property taxes of $14,600, state income taxes of $43,400, miscellaneous itemized deductions of $10,500 (subject to but in excess of 2 percent AGI floor), charitable contributions of $7,200, and mortgage interest expense of $53,000 ($16,400 of which is attributable to a home-equity loan used to buy a new car). Use Tax Rate Schedule for reference.
A. What is Deon and NeNe's AMT? (Do not round intermediate calculations. Round your final answer to the nearest whole number.)
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