Question
Sylvester files as a single taxpayer during 2018. He itemizes deductions for regular tax purposes. He paid charitable contributions of $8,400, real estate taxes of
Sylvester files as a single taxpayer during 2018. He itemizes deductions for regular tax purposes. He paid charitable contributions of $8,400, real estate taxes of $1,200, state income taxes of $4,650, and mortgage interest of $1,600 on $31,800 of acquisition indebtedness on his home. Sylvesters regular taxable income is $160,000. What is Sylvesters AMTI?
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Financial Reporting and Analysis
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
7th edition
1259722651, 978-1259722653
