Kramer is married and has the following tax information for 2016:

Wages$310,000Medical expenses35,000State income taxes25,000Property taxes on residence18,000Cash contributions to qualified charities10,000Alimony10,000Home mortgage interest15,000Interest on home-equity loan, proceeds used to buy boat5,0002% miscellaneous itemized deductions8,000Both Kramer and his wife are 68 years old. Additionally, on March 13, 2016 Kramer exercised incentive stock options. The price of the UTK stock on March 13 was $80,000 and Kramer paid $10,000 for the stock.

List the amount for each adjustments/preference that must be accounted for when computing alternative minimum taxable income. Assume that adjusted gross income is $300,000 and taxable income is $250,000. If an add back is not required for a specific adjustments/preference, enter 0.

Adjustment/preference

Amount

2Personal (Exemptions)

3Compensation element of incentive stock option

4Cash contributions to charity

5State income taxes

6Property taxes

7Alimony

8Medical expenses

9Home equity interest

10Wages

11

2% miscellaneous itemized deductions