The Perez Trust incurred the following items this year. Taxable interest income ......................................................... $75,000 Tax-exempt interest income,

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The Perez Trust incurred the following items this year.

Taxable interest income ......................................................... $75,000

Tax-exempt interest income, not on private activity bonds ..................40,000

Tax-exempt interest income, on private activity bonds issued in 1999 ... 20,000

Compute Perez's tentative minimum tax for the year. Perez does not hold any credits available to reduce the AMT liability?

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South Western Federal Taxation 2015

ISBN: 9781305310810

38th Edition

Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young

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Question Posted: Dec 22, 2016 01:38 AM

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The Perez Trust incurred the following items this year. Taxable interest income ......................................................... $75,000 Tax-exempt interest income,

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AMT income 75000 20000 95000 AMT exemption reduction 025 x 95000 78250 19312 AMT tax ...View the full answer

South Western Federal Taxation 2015

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