Lynn, age 45, is single and has no dependents. Her income and expenses for 2020 are reported as follows.

Income Salary $233,000

Taxable interest on corporate bonds 13,700

Business income 64,000

Expenses Home office expense deduction (associated with sole proprietorship) 3,200

State income taxes 6,000

Real property taxes 8,500

Home mortgage (qualified housing) interest 9,200

Home equity loan interest 2,500

Investment interest 15,500

Cash contributions to various charities 2,900

The $64,000 business income is from Apex Office Supplies Company, a sole proprietorship that Lynn owns and operates. Apex claimed MACRS depreciation of $3,175 on personal property used in the business and placed in service in the current year. Lynn received interest of $30,000 on City of Pensacola private activity bonds that were issued in 2014. Based on the financial information presented above, compute Lynn's AMT for 2020. Ignore the one-half deduction for self-employment taxes for this problem.

Gross income
Adjusted gross income
Less: deductions from AGI
Taxable income
Regular income tax calculation
Total tax
Computation of alternative minimum tax
Taxable income
Plus: positive adjustments and tax preferences
Less: negative adjustment
Alternative minimum taxable income
Less: AMT exemption
AMT base
TMT
AMT