William and Maria Smith are a married couple filing jointly. They have no children and report the following items in 2015:
Taxable income ………………………………………………..$70,000
Tax preferences ……………………………………………….. 20,000
AMT adjustments related to itemized deductions …………… 15,000
Regular tax liability ………………………………………….. 9,578
a. What is the Smith’s AMT liability?
b. What would be William’s AMT liability if he were an unmarried taxpayer filing single with a regular tax liability of $13,294?