Jaclyn Biggs, who files as a head of household, never paid AMT before 2015. In 2015, her
Question:
a. Compute Jaclyn’s total income tax for 2015.
b. Assume that Jaclyn has a $5,200 minimum tax credit carry forward from 2015. Her 2016 taxable income is $179,100, all of which is ordinary income. Her 2016 AMTI in excess of her exemption amount is $146,900. Compute Jaclyn’s total tax for 2016 (use the 2015 tax rates) and her minimum tax carry forward into 2017.
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Related Book For
Principles Of Taxation For Business And Investment Planning 2016 Edition
ISBN: 9781259549250
19th Edition
Authors: Sally Jones, Shelley Rhoades Catanach
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