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In 2017, Janet and Ray are married filing jointly. They have five dependent children under 18 years of age. Janet and Rays taxable income is
In 2017, Janet and Ray are married filing jointly. They have five dependent children under 18 years of age. Janet and Rays taxable income is $140,000, and they itemize their deductions as follows: real property taxes of $5,000, state income taxes of $9,000, and mortgage interest expense of $15,000. a. What is Janet and Rays AMT?
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