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In 2020, Jude, a single taxpayer, has $150,000 of regular taxable income. He has itemized deductions as follows: real property taxes of $4,000; state income
In 2020, Jude, a single taxpayer, has $150,000 of regular taxable income. He has itemized deductions as follows: real property taxes of $4,000; state income taxes of $2,500; and mortgage interest expense of $1,000. Jude also has charitable contributions of $2,000; interest income from a municipal bond that funds a private building of $2,000; excess regular depreciation over AMT allowed depreciation of $3,000. What is Judes alternative minimum taxable income (AMTI) for 2020?
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