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.
- Mr. and Mrs. Bakers taxable income on their joint return was $205,000, and their AMTI before exemption was $207,500.
- Mr. Costas taxable income on his single return was $181,350, and his AMTI before exemption was $202,500.
- Ms. Whites taxable income on her single return was $657,675, and her AMTI before exemption was $798,500.
Assume the taxable year is 2019. Use Individual Tax Rate Schedules.
Individual Tax Rate Schedules Married Filing Jointly and Surviving Spouse If 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 $168,400 $9,056 + 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 $408,200 $65,497 + 32% of excess over $321,450 Over $403,200 but not over $612,350 $93,257 + 35% of excess over $408,200 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 $970 + 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 $204,100 Over $306,175 $32,354.75 + 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 $52,950 $1,385 + 12% of excess over $13,850 Over $52,850 but not over $84,200 $6,065 + 22% of excess over $52,850 Over $84,200 but not over $160,700 $12,962 +24% of excess over $84,200 Over $160,700 but not over $204,100 $31,322 + 32% of excess over $160,700 Over $204,100 but not over $510,300 $45,210 + 35% of excess over $204,100 Over $510,300 $152,380 + 37% of excess over $510,300 Single If taxable income is: The tax is: Not over $9,700 10% of taxable income Over $9,700 but not over $39,475 $970 + 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 $54,200 Over $160,725 but not over $204,100 $32,748.5 + 32% of excess over $160,725 Over $204,100 but not over $510,300 $46,628.5 + 35% of excess over $204,100 Over $510,300 $153,798,5 + 37% of excess over 510,300 Required A Required B Required C Mr. and Mrs. Baker's taxable income on their joint return was $205,000, and their AMTI before exemption was $207,500. (Round your intermediate calculations and final answer to the nearest whole do AMT Required A Required B Required C Ms. White's taxable income on her single return was $657,675, and her AMTI before exemption was $798,500. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) AMT
