Question
In 2017, Deon and NeNe are married filing jointly. They have three dependent children under 18 years of age. Deon and NeNe's AGI is $935,500,
In 2017, Deon and NeNe are married filing jointly. They have three dependent children under 18 years of age. Deon and NeNe's AGI is $935,500, their taxable income is $865,500, and they itemize their deductions as follows: real property taxes of $18,200, state income taxes of $55,200, miscellaneous itemized deductions of $9,500 (subject to but in excess of 2 percent AGI floor), charitable contributions of $8,900, and mortgage interest expense of $56,200 ($15,200 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?
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