Carol reports taxable income of $48,000. Included in that calculation are the following items. Real estate taxes
Question:
Carol reports taxable income of $48,000. Included in that calculation are the following items.
Real estate taxes on her home ............................................... $2,000
Mortgage interest on acquisition indebtedness ................... 1,200
Charitable contribution ............................................................ 550
Carol also had excluded municipal bond interest income of $8,000, $3,000 of which was deemed to be private activity bond interest. What are Carol's total alternative minimum tax (AMT) adjustments?
a. $1,200
b. $2,000
c. $3,000
d. $6.750
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Related Book For
South-Western Federal Taxation 2019 Essentials Of Taxation Individuals And Business Entities
ISBN: 9781337702966
22nd Edition
Authors: William A. Raabe, James C. Young, Annette Nellen, David M. Maloney
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