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On their Form 1040 for 2019, Mr. and Mrs. Watermelon reported alternative minimum taxable income of $1,148,340 before any exemption. What is their AMT exemption?

On their Form 1040 for 2019, Mr. and Mrs. Watermelon reported alternative minimum taxable income of $1,148,340 before any exemption. What is their AMT exemption?

  • $31,935

  • $109,400

  • None of the above

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