In 2022, Sven is single and has $120,000 of regular taxable income. He itemizes his deductions as

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In 2022, 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, and mortgage interest expense of $15,000 (acquisition debt of $300,000). He also has a positive AMT depreciation adjustment of $500. What is Sven’s alternative minimum taxable income (AMTI)? Complete Form 6251 (through line 4) for Sven.

From 6251

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Taxation Of Individuals And Business Entities 2023 Edition

ISBN: 9781265790295

14th Edition

Authors: Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham

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