Question
Kevin reported several tax preference items in taxable income in 2019. The normal federal tax in 2019 was $35,000 and the alternative minimum tax (AMT)
Kevin reported several tax preference items in taxable income in 2019. The normal federal tax in 2019 was $35,000 and the alternative minimum tax (AMT) was $52,000. In 2020 Niko earned only employment income, and the normal tax for the year was $25,000.
Required:
A. Determine the total actual taxes paid for 2019.
B. Determine the total actual taxes paid for 2020.
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A To determine the total actual taxes paid for 2019 we need ...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
