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In 20X1, Ellison's regular tax liability is $10,000. For 20X1, Ellison's CPA runs a calculation and determined Ellison's Tentative Minimum Tax, for Alternative Minimum Tax
In 20X1, Ellison's regular tax liability is $10,000. For 20X1, Ellison's CPA runs a calculation and determined Ellison's Tentative Minimum Tax, for Alternative Minimum Tax (AMT) purposes, was $12,000. For 20X1, what is Ellison's total income tax liability for Federal Income Taxes? Group of answer choices $10,000 $11,000 $2,000 $12,000
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Financial Accounting
Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac
14th edition
1305088433, 978-1305088436
