Question
Josephus, an unmarried taxpayer filing single with no dependents, has AGI of $200,000 and reports the following items in 2015: Taxable income $160,000 Tax preferences
Josephus, an unmarried taxpayer filing single with no dependents, has AGI of $200,000 and reports the following items in 2015:
Taxable income $160,000
Tax preferences 10,000
AMT Adjustments related to itemized deductions 30,000
Regular tax liability 37,871
What is Josephuss AMT liability for 2015?
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Managerial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
8th edition
ISBN: 978-1-119-3904, 1119392422, 111939242X, 1119390451, 978-1119392422
