Question
In 2020, Deon and NeNe are married filing jointly. Deon and NeNes taxable income is $1,192,400, and they itemize their deductions as follows: real property
In 2020, Deon and NeNe are married filing jointly. Deon and NeNes taxable income is $1,192,400, and they itemize their deductions as follows: real property taxes of $13,800, charitable contributions of $27,750, and mortgage interest expense of $57,400 ($700,000 acquisition debt for home). Use Exhibit 8-5 and Tax Rate Schedule for reference.
a. What is Deon and NeNe's AMT? (Leave no answer blank.)
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Auditing and Assurance Services A Systematic Approach
Authors: William Messier Jr, Steven Glover, Douglas Prawitt
10th edition
77732502, 978-0077732509
