Question
In 2023, Deon and NeNe are married filing jointly. Deon and NeNe's taxable income (all ordinary) is $1,426,000, and they itemize their deductions as follows:
In 2023, Deon and NeNe are married filing jointly. Deon and NeNe's taxable income (all ordinary) is $1,426,000, and they itemize their deductions as follows: real property taxes of $15,000, charitable contributions of $27,650, and mortgage interest expense of $55,600 ($700,000 acquisition debt for home). Use Exhibit 8-5 and Tax Rate Schedule for reference.
What is Deon and NeNe's AMT?
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Financial Accounting An Introduction
Authors: Jacqui Kew, Alex Watson
4th Edition
0199046484, 978-0199046485
