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In each of the following cases, compute AMT (if any). For all cases, assume that taxable income does not include any dividend income or capital
In each of the following cases, compute AMT (if any). For all cases, assume that taxable income does not include any dividend income or capital gain. a. Mr. and Mrs. Baker's taxable income on their joint return was $221,000, and their AMTI before exemption was $221,900. b. Mr. Costa's taxable income on his single return was $194,310, and his AMTI before exemption was $216,900. c. Ms. White's taxable income on her single return was $680,075, and her AMTI before exemption was $809,700 Assume the taxable year is 2019. Use Individual Tax Rate Schedules. Complete this question by entering your answers in the tabs below. Required A Required B Required C Mr. and Mrs. Baker's taxable income on their joint return was $221,000, and their AMTI before exemption was $221,900. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) AMT Individual Tax Rate Schedules Married Flling Jointly and Surviving Spouse Ir taxable income is: The tax is: Not over $19.400 10% of taxable income Over $19,400 but not over $78,950 $1,940 +12% of excess over $19.400 Over $78,950 but not over S168.400 S9,086 +22% of excess over $78.950 Over $168.400 but not over $321,450 $28.765 +24% of excess over $168.400 Over $321,450 but not over $405,200 $65.497 + 32% of excess over $321,450 Over $408,200 but not over $612,350 $93.257 + 35% of excess over $403,200 Over $612,350 $164.709.50 + 37% of excess over $612,350 Married Filing Separately If taxable income is: The tax is: Not over $9.700 10% of taxable income Over $9.700 but not over $39,475 S970 +12% of excess over $9.700 Over $39,475 but not over $84,200 $4,543 + 22% of excess over $39,475 Over $84,200 but not over $160,725 $14,382.50 +24% of excess over $84,200 Over $160,725 but not over $204,100 $32,748.50 +32% of excess over $160,725 Over $204.100 but not over $306,175 $46.628.50 +35% of excess over S204.100 Over $306,175 $82.354.75 +37% of excess over $306,175 Heads of Household If taxable income is: The tax is: Not over $13.850 10% of taxable income Over $13,850 but not over S52,950 $1,355 + 12% of excess over $13.550 Over $52,850 but not over SS4,200 $6,065 + 22% of excess over S52,850 Over $84.200 but not over $160,700 S12.962 +24% of excess over $84.200 Over $160.700 but not over S204,100 S31.322 + 32% of excess over $160.700 Over $204.100 but not over $510,300 $45.210 + 35% of excess over S204,100 Over $510,300 S152,350 + 37% of excess over S510,300 Single If taxable income is: The tax is: Not over $9.700 10% of taxable income Over $9,700 but not over $39,475 S970 + 12% of excess over $9,700 Over $39,475 but not over $84,200 $4,543 +22% of excess over $39,475 Over $84,200 but not over $160,725 14,382,5 + 24% of excess over $84.200 Over $160.725 but not over $204,100 S32.748.5 + 32% of excess over $160.725 Over $204.100 but not over $510,300 $46.628.5+ 35% of excess over S204,100 Over $510,300 S153.798.5 + 37% of excess over 510,300 In each of the following cases, compute AMT (if any). For all cases, assume that taxable income does not include any dividend income or capital gain. a. Mr. and Mrs. Baker's taxable income on their joint return was $221,000, and their AMTI before exemption was $221,900. b. Mr. Costa's taxable income on his single return was $194,310, and his AMTI before exemption was $216,900. c. Ms. White's taxable income on her single return was $680,075, and her AMTI before exemption was $809,700 Assume the taxable year is 2019. Use Individual Tax Rate Schedules. Complete this question by entering your answers in the tabs below. Required A Required B Required C Mr. and Mrs. Baker's taxable income on their joint return was $221,000, and their AMTI before exemption was $221,900. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) AMT Individual Tax Rate Schedules Married Flling Jointly and Surviving Spouse Ir taxable income is: The tax is: Not over $19.400 10% of taxable income Over $19,400 but not over $78,950 $1,940 +12% of excess over $19.400 Over $78,950 but not over S168.400 S9,086 +22% of excess over $78.950 Over $168.400 but not over $321,450 $28.765 +24% of excess over $168.400 Over $321,450 but not over $405,200 $65.497 + 32% of excess over $321,450 Over $408,200 but not over $612,350 $93.257 + 35% of excess over $403,200 Over $612,350 $164.709.50 + 37% of excess over $612,350 Married Filing Separately If taxable income is: The tax is: Not over $9.700 10% of taxable income Over $9.700 but not over $39,475 S970 +12% of excess over $9.700 Over $39,475 but not over $84,200 $4,543 + 22% of excess over $39,475 Over $84,200 but not over $160,725 $14,382.50 +24% of excess over $84,200 Over $160,725 but not over $204,100 $32,748.50 +32% of excess over $160,725 Over $204.100 but not over $306,175 $46.628.50 +35% of excess over S204.100 Over $306,175 $82.354.75 +37% of excess over $306,175 Heads of Household If taxable income is: The tax is: Not over $13.850 10% of taxable income Over $13,850 but not over S52,950 $1,355 + 12% of excess over $13.550 Over $52,850 but not over SS4,200 $6,065 + 22% of excess over S52,850 Over $84.200 but not over $160,700 S12.962 +24% of excess over $84.200 Over $160.700 but not over S204,100 S31.322 + 32% of excess over $160.700 Over $204.100 but not over $510,300 $45.210 + 35% of excess over S204,100 Over $510,300 S152,350 + 37% of excess over S510,300 Single If taxable income is: The tax is: Not over $9.700 10% of taxable income Over $9,700 but not over $39,475 S970 + 12% of excess over $9,700 Over $39,475 but not over $84,200 $4,543 +22% of excess over $39,475 Over $84,200 but not over $160,725 14,382,5 + 24% of excess over $84.200 Over $160.725 but not over $204,100 S32.748.5 + 32% of excess over $160.725 Over $204.100 but not over $510,300 $46.628.5+ 35% of excess over S204,100 Over $510,300 S153.798.5 + 37% of excess over 510,300
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