In 2023, Deon and NeNe are married filing jointly. Deon and NeNes taxable income is $1,390,000 (all
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In 2023, Deon and NeNe are married filing jointly. Deon and NeNe’s taxable income is $1,390,000 (all ordinary), and they itemize their deductions as follows: real property taxes of $10,000, charitable contributions of $30,000, and mortgage interest expense of $40,000 (acquisition debt of $700,000 for home). What is Deon and NeNe’s AMT? Complete Form 6251 for Deon and NeNe.
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Deon and NeNe will not owe AMT Description 1 Regular taxable income 2 Real property taxes 3 AMTI 4 Full exemption 5 Phaseout of exemption 6 AMT exemption 7 AMT base 8 AMT Rate 9 Tentative minimum tax 10 Regular tax ...View the full answer
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Related Book For 
McGraw Hills Taxation Of Individuals And Business Entities 2024
ISBN: 9781265357276
15th Edition
Authors: Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham, Edmund Outslay
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