Jane and Robert Brown are married and have eight children, all of whom are considered dependents for Federal income tax purposes. Robert earns $196,000 working as senior manager in a public accounting firm, and Jane earns $78,000 as a second-grade teacher. Given their large family, they live in a frugal manner. The Browns maintain a large garden and fruit trees from which they get most of their produce, and the children take family and consumer science classes so that they can help make the family’s clothing and make household repairs. 

The Browns record no gross income other than their salaries (all of their investment income is earned from qualified retirement savings), and their itemized deductions are less than the standard deduction. In addition, they incur no additional adjustments or preferences for AMT purposes.

a. What is the couple’s 2021 regular tax liability?

b. What is the couple’s 2021 AMT?

c. Express the calculation of the couple’s AMT for 2021 as a Microsoft Excel formula. Place any parameter that could change annually in a separate cell, and incorporate the cell references into the formula.