In 2014, Janet and Ray are married filing jointly. They have five dependent children under 18 years

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In 2014, Janet and Ray are married filing jointly. They have five dependent children under 18 years of age. Janet and Ray's taxable income is $140,000, and they itemize their deductions as follows: real property taxes of $5,000, state income taxes of $9,000, and mortgage interest expense of $15,000 (not home-equity loan). What is Janet and Ray's AMT? Complete Form 6251 for Janet and Ray. (Use 2014 AMT exemption amounts).
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Related Book For  answer-question

Taxation Of Individuals And Business Entities 2015

ISBN: 9780077862367

6th Edition

Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

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