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Vic and Wanda are married and file a joint return for the current year. They have no dependents and they take the standard deduction. Their
Vic and Wanda are married and file a joint return for the current year. They have no dependents and they take the standard deduction. Their taxable income is $800,000 (including their standard deduction). They have $200,000 of AMT preference items and $60,000 of AMT positive adjustments (other than the standard deduction). Determine the couples tentative AMT and their AMT liability.
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