Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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. Note: Leave no answer blank. Enter zero if applicable.
Her AMTI is $394,000.
Her AMTI is $1,181,600.
Her AMTI is $1,604,000
EXHIBIT 8-5 2022 AMT ExemptionsPhase-Out CompleteFiling StatusExemptionPhase-Out Begins atThis Level of AMTIfor This Level ofAMTIMarried filing jointly$118,100$1,079,800$1.552,200Married filing separately59.050539.900776.100Head of household and single75.900539.900843.500Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started