In 2016, Sven is single and has $120,000 of regular taxable income. He itemizes his deductions as
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In 2016, Sven is single and has $120,000 of regular taxable income. He itemizes his deductions as follows: real property tax of $2,000, state income tax of
$4,000, mortgage interest expense of $15,000 (not a home-equity loan). He also paid $2,000 in tax preparation fees and has a positive AMT depreciation adjustment of $500. What is Sven’s alternative minimum taxable income (AMTI)?
Complete Form 6251 (through line 28) for Sven.
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Related Book For
McGraw-Hill's Taxation Of Individuals
ISBN: 9781259729027
2017 Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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