Question
Taxpayer Lucian, lives in Florida and files as single. Lucian's taxable income is $550,000. In 2020 Lucian Tax Liability before adjustment is $158,427. Lucia has:
Taxpayer Lucian, lives in Florida and files as single. Lucian's taxable income is $550,000. In 2020 Lucian Tax Liability before adjustment is $158,427. Lucia has:
1. Positive AMT adjustment of $100,000 - incentive stock options.
2. Itemized deductions limitation and tax preferences of $25,000
3. What is Lucian Alternative Minimum Tax for 2020?
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Factory Accounts
Authors: John Whitmore
1st Edition
0367494825, 9780367494827
