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. 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 single75.900539.900843.500 Step by Step Solution
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Financial Accounting
Authors: Walter Jr. Harrison, Charles T. Horngren, C. William Thomas, Greg Berberich, Catherine Seguin
6th Canadian edition
134564146, 978-0134141091, 134141091, 978-0134564142
