Question
Lisa has nonrefundable credits of $65,000 for 2015. Her regular income tax liability before credits is $190,000, AND HER TMT IS$150,000. a. Compute the amount
Lisa has nonrefundable credits of $65,000 for 2015. Her regular income tax liability before credits is $190,000, AND HER TMT IS$150,000.
a. Compute the amount of Lisa's AMT. Note: If an amount is zero, enter "0".
TMT $ 150,000
Regular income tax liability 190,000
Excess of regular tax over TMT liability 40,000
# Lisa's AMT is $$
. b. What is the amount of Lisa's regular income tax liability after credits? Nonrefundable personal credits can be used to offset the entire amount of the taxpayers regular tax liability. Lisa's regular income tax liability after credits is $$ .
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