Carol reports taxable income of $48,000. Included in that calculation are the fol- lowing items. Real estate
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Carol reports taxable income of $48,000. Included in that calculation are the fol- lowing items. Real estate taxes on her home Mortgage interest on acquisition indebtedness Charitable contribution $2,000 1,200 550 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
Essentials Of Taxation Individuals And Business Entities 2019
ISBN: 9780357233290
1st Edition
Authors: William A Raabe, James C Young
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