Question
In 2022, Deon and NeNe are married filing jointly. Deon and NeNe's taxable income (all ordinary) is $1,190,000, and they itemize their deductions as follows:
In 2022, Deon and NeNe are married filing jointly. Deon and NeNe's taxable income (all ordinary) 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.
a. What is Deon and NeNe's AMT?
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Taxation Of Individuals And Business Entities 2023 Edition
Authors: Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham
14th Edition
1265790299, 978-1265790295
