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Whitley and Maggie Sweeney are a married couple filing jointly. They have no children and report the following items in 2017 ?(Click the icon to
Whitley and Maggie Sweeney are a married couple filing jointly. They have no children and report the following items in 2017 ?(Click the icon to view the items reported in 2017) Read the requirements Click the icon tov ew the 2017 personal exemption schedule ?(Click the con tove the 2017 AMT exemption amounts. Requirement a and b. What is the Sweeney's AMT liabil ity? What would be Whitey's AMT liability if he were an unmarried taxpayer filing single with a regular tax liability of $11,739? with a regular tax liability of $11,739. Select the labels and complete the table below to determine the Sweeney's alternative minimum tax (AMT). there is no AMT liability.) Data Table Sweeney's AMT Whitey's AMT 64,000 24,000 10,000 8,668 Taxable income Plus: Tax preferences AMT adjustments related to itemized deductions Regular tax liabil ity Alternative minimum taxable income (AMT) Minus: Alternative minimum tax base amount Print Done Tentative minimum tax Minus: Alternative minimum tax (AMT) Requirements a. What is the Sweeney's AMT liability? b. What would be Whitley's AMT liability if he were an unmarried taxpayer filing single with a regular tax liability of $11,739? PrintDone
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