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In 2023, Nadia is single and has $104,000 of regular taxable income. She itemizes her deductions as follows: real property taxes of $1,700, state income
In 2023, Nadia is single and has $104,000 of regular taxable income. She itemizes her deductions as follows: real property taxes of $1,700, state income taxes of $2,200, and mortgage interest expense of $11,000 (acquisition indebtedness of $200,000). In addition, she receives tax-exempt interest of $1,400 from a municipal bond (issued in 2006 ) that was used to fund a new business building for a (formerly) out-of-state employer. Finally, she received a state tax refund of $400 from the prior year. Note: Amounts to be deducted should be indicated by a minus sign. Problem 8-55 Part a-1 (Algo) a-1. What is Nadia's AMTI this year if she deducted $15,500 of itemized deductions last year (including a total of $4,100 of real propi taxes and state income taxes) and did not owe any AMT last year
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