Pat is 40, is single, and has no dependents. She received a salary of $390,000 in 2022.

Question:

Pat is 40, is single, and has no dependents. She received a salary of $390,000 in 2022. She earned interest income of $11,000, dividend income of $15,000, gambling winnings of $14,000, and interest income from private activity bonds (issued in 2018) of $40,000. The dividends are not qualified dividends. The following additional information is relevant. Compute Pat’s tentative minimum tax for 2022.

State income taxes Real estate taxes Mortgage interest on residence Investment interest expense Gambling

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

South Western Federal Taxation 2023 Essentials Of Taxation Individuals And Business Entities

ISBN: 9780357720103

26th Edition

Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young

Question Posted: