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Required information

$[$The following information applies to the questions displayed below.$]$

In $2022,$ Deon and NeNe are married filing jointly. Deon and NeNe's taxable income is $$1,090,000$

$($all ordinary$),$ and they itemize their deductions as follows: real property taxes of $$10,000,$

charitable contributions of $$30,000,$ and mortgage interest expense of

acquisition debt for home$).$ Use Exhibit $8-5$ and Tax Rate Schedule for reference.

a$.$ What is Deon and NeNe's AMT?

$2022$ Tax Rate Schedules

IndividualsSchedule X$-$Single

If taxable income$$is over: But not over: The tax is:

$ $0$ $$10,27510\%$ of taxable income

$ $10,275$ $ $41,775$ $$1,027\mathrm{.}50$ plus $12\%$ of the excess over $$10,275$

$ $41,775$ $ $89,075$ $$4,807\mathrm{.}50$ plus $22\%$ of the excess over $$41,775$

$ $89,075$ $$170,050$ $$15,213\mathrm{.}50$ plus $24\%$ of the excess over $$89,075$

$$170,050$ $$215,950$ $$34,647\mathrm{.}50$ plus $32\%$ of the excess over $$170,050$

$$215,950$ $$539,900$ $$49,335\mathrm{.}50$ plus $35\%$ of the excess over $$215,950$

$$539,900$ $$162,718$ plus $37\%$ of the excess over $$539,900$

Schedule Y$-1-$Married Filing Jointly or Qualifying Widow$($er$)$

If taxable income is over: But not over: The tax is:

$ $0$ $ $20,55010\%$ of taxable income

$ $20,550$ $ $83,550$ $$2,055$ plus $12\%$ of the excess over $$20,550$

$ $83,550$ $$178,150$ $$9,615$ plus $22\%$ of the excess over $$83,550$

$$178,150$ $$340,100$ $$30,427$ plus $24\%$ of the excess over $$178,150$

$$340,100$ $$431,900$ $$69,295$ plus $32\%$ of the excess over $$340,100$

$$431,900$ $$647,850$ $$98,671$ plus $35\%$ of the excess over $$431,900$

$$647,850$ $$174,253\mathrm{.}50$ plus $37\%$ of the excess over $$647,850$

Schedule Z$-$Head of Household

If taxable income$$is over: But not over: The tax is:

$ $0$ $ $14,65010\%$ of taxable income

$ $14,650$ $ $55,900$ $$1,465$ plus $12\%$ of the excess over $$14,650$

$ $55,900$ $ $89,050$ $$6,415$ plus $22\%$ of the excess over $$55,900$

$ $89,050$ $$170,050$ $$13,708$ plus $24\%$ of the excess over $$89,050$

$$170,050$ $$215,950$ $$33,148$ plus $32\%$ of the excess over $$170,050$

$$215,950$ $$539,900$ $$47,836$ plus $35\%$ of the excess over $$215,950$

$$539,900$ $$161,218\mathrm{.}50$ plus $37\%$ of the excess over $$539,900$

Schedule Y$-2-$Married Filing Separately

If taxable income is over: But not over: The tax is:

$ $0$ $ $10,27510\%$ of taxable income

$ $10,275$ $ $41,775$ $$1,027\mathrm{.}50$ plus $12\%$ of the excess over $$10,275$

$ $41,775$ $ $89,075$ $$4,807\mathrm{.}50$ plus $22\%$ of the excess over $$41,775$

$ $89,075$ $$170,050$ $$15,213\mathrm{.}50$ plus $24\%$ of the excess over $$89,075$

$$170,050$ $$215,950$ $$34,647\mathrm{.}50$ plus $32\%$ of the excess over $$170,050$

$$215,950$ $$323,925$ $$49,335\mathrm{.}50$ plus $35\%$ of the excess over $$215,950$

$$323,925$ $$87,126\mathrm{.}75$ plus $37\%$ of the excess over $$323,925$

Filing Status Exemption Phase$-$Out Begins at this Level of AMTI Pase$-$Out Complete for This Level of AMTI

Married Filing Jointly $$118,100$ $$1,079,800$ $$1,522,200$

Married Filing Seperately $$59,050$ $$539,900$ $$776,100$

Head of household and single $$75,900$ $$539,900$ $$843,500$