Question
William and Maria Smith are a married couple filing jointly. They have no children and report the following items in 2020: Taxable income 100,000 Tax
William and Maria Smith are a married couple filing jointly. They have no children and report the following items in 2020:
Taxable income 100,000
Tax Preferences 20,000
AMT adjustments related to itemized deductions 30,000
Regular tax liability 13,580
- What is the Smiths AMT liability?
- What would be Williams AMT liability if he were an unmarried taxpayer filing single with a regular tax liability of $18,080?
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Sound Investing, Chapter 10 - One-Time Charges And Other Format Fakes
Authors: Kate Mooney
2nd Edition
0071719326, 9780071719322
