Required information [The following information applies to the questions displayed below.) Corbett's AMTI is $600,000. What is his AMT exemption under the following alternative circumstances? Exhibit 8-5. a. He is married and files a joint return Answer is complete but not entirely correct. Amount of AMT exemption $ 56,700 EXHIBIT 8-5 2020 AMT Exemptions Filing Status Exemption Married filing jointly Married filing separately Head of household and single $113,400 56,700 72,900 Phase-Out Begins at Phase-Out Complete for This Level of This Level of AMTI AMTI $1,036,800 $1,490,400 518,400 745,200 518,400 810,000 Required information [The following information applies to the questions displayed below.) Corbett's AMTI is $600,000. What is his AMT exemption under the following alternative circumstances? Exhibit 8-5. c. His filing status is single. Answer is complete but not entirely correct. Amount of AMT exemption $ 40,260 EXHIBIT 8-5 2020 AMT Exemptions Filing Status Exemption Married filing jointly Married filing separately Head of household and single $113,400 56,700 Phase-Out Begins at Phase-Out Complete for This Level of This Level of AMTI AMTI $1,036,800 $1,490,400 518,400 745,200 518,400 810,000 72,900