Question
Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she deduct under each of the following
Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she deduct under each of the following alternative circumstances? Exhibit 8-5. (Leave no answer blank. Enter zero if applicable.)
b. Her AMTI is $1,080,000.
| Filing Status | Exemption | Phase-Out Begins at This Level of AMTI | Phase-Out Complete for This Level of AMTI |
|---|---|---|---|
| Married filing jointly | $113,400 | $1,036,800 | $1,490,400 |
| Married filing separately | 56,700 | 518,400 | 745,200 |
| Head of household and single | 72,900 | 518,400 | 810,000 |
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
26th edition
128574361X, 978-1305446052, 1305446054, 978-1285743615
