Question
Wolfgang, who is age 33, records AGI of $125,000. He incurs the following itemized deductions for 2016: Medical expenses [$15,000 (10% x $125,000)] $2,500 State
Wolfgang, who is age 33, records AGI of $125,000. He incurs the following itemized deductions for 2016: Medical expenses [$15,000 (10% x $125,000)] $2,500 State income taxes 4,200 Charitable contributions 5,000 Home mortgage interest on his personal residence 6,000 Casualty loss (after $100 and 10% reductions) 1,800 Miscellaneous itemized deductions [$3,500 (2% x $125,000)] 1,000 $20,500 b. What is the total amount of his AMT adjustments from these items? There is a positive adjustment of $5,200. c. Use the solution to (b) to complete Part I of Form 6251, the AMT form for individuals. Line 1 ______ Line 3 _____ Line 5 ____ Line 28_____
I got up to part c can someone please help with part c??
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started