In 2019, Deon and NeNe are married filing jointly. Deon and NeNes taxable income is $1,190,000, and they itemize their deductions as follows: real property taxes of $17,700, charitable contributions of $24,250, and mortgage interest expense of $48,400 ($700,000 acquisition debt for home). Use Exhibit 8-5 and Tax Rate Schedule for reference.

rev: 02_29_2020_QC_CS-202942

a. What is Deon and NeNe's AMT?

**** This is incorrect : Taxable Income 1,190,000Less:Charitable contributions 24,250Mortagage Interest Expense 48,400 (72,650) 1,117,350Less:AMT Exemption 111,700AMT base 1,005,650AMT=AMT*26% 261,469*****