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QUESTION 1 If your tentative alternative minimum tax for 2020 was $10,000 and your regular tax liability was 59,000. What would be the amount of
QUESTION 1 If your tentative alternative minimum tax for 2020 was $10,000 and your regular tax liability was 59,000. What would be the amount of your total tax due? 10,000 How much regular tax would you be paying? 9,000 How much AMT would you be paying? 1,000 QUESTION 2 Roella AGI is $97,000. Her current tax liability is $14,300. Last year, her tax liability was $11,100. She will not owe underpayment penalties (safe harbor provision) if her total estimated tax payments are at LEAST which of the following (rounded) amounts (assume she makes the required payments each quarter)? 11,100 QUESTION 3 Cali is single and in 2020, he reported $600,000 of taxable income, including a long-term capital gain of $10,000. What is his gross tax liability, rounded to the nearest whole dollar amount (use the tax rate schedules)? 184727 QUESTION 4 Sal earned a $60,520 salary as an employee in the current year. How much should his employer have withheld from his paycheck (employee portion) for FICA taxes (rounded to the nearest whole dollar amount)? 4,630
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