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[The following information applies to the questions displayed below.] In 2019, Deon and NeNe are married filing jointly. Deon and NeNes taxable income is $1,190,000,
[The following information applies to the questions displayed below.] In 2019, Deon and NeNe are married filing jointly. Deon and NeNes taxable income is $1,190,000, and they itemize their deductions as follows: real property taxes of $17,700, charitable contributions of $24,250, and mortgage interest expense of $48,400 ($700,000 acquisition debt for home). Use Exhibit 8-5 and Tax Rate Schedule for reference. rev: 02_29_2020_QC_CS-202942 a. What is Deon and NeNe's AMT
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