Use the following data to calculate Chiaras AMT base in 2017. Taxable income .......................................... $148,000 Positive AMT
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Use the following data to calculate Chiara’s AMT base in 2017.
Taxable income .......................................... $148,000
Positive AMT adjustments ......................... 73,000
Negative AMT adjustments ....................... 55,000
Preferences ............................................... 30,000
Chiara will itemize deductions and will file as a single taxpayer. Taxable income is computed before the personal exemption amount, which is not included in the positive AMT adjustments amount above.
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Related Book For
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
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